Entrepreneurship and Business Model Canvas Review

Vocabulary flashcards based on entrepreneurship study questions, financial terminology, and the nine building blocks of the Business Model Canvas.

Ethical Culture

A culture within a company that helps reduce legal risks and builds stakeholder trust.

Founders’ Agreement

A contract between the founders of a company; it is not exclusive to large corporations.

Bootstrapping

A method of starting a business that does not depend on bank loans, but rather on personal savings or company revenue.

Income Statement

A financial statement that shows a company's revenue and expenses over a specific period.

Balance Sheet

A financial statement that shows a company's assets, liabilities, and owner’s equity.

Equity Financing

A method of raising capital by selling ownership shares of the company.

Debt Financing

A financing option that involves borrowing money which must be repaid with interest.

Noncompete Agreement

An agreement that prevents employees from starting a competing business or working for competitors (distinct from an NDA).

NDA (Non-Disclosure Agreement)

An agreement specifically designed to protect company secrets from being shared.

Market Segmentation

The process of dividing customers into distinct groups with similar needs.

Business Model Canvas

A strategic management tool containing nine building blocks used to visualize a business model.

LLC (Oman)

A business structure in Oman that provides limited liability protection to its owners.

Sweat Equity

A founder’s unpaid time and effort contributed to the business.

Market Selection Order

The chronological process of Segmentation → Targeting → Positioning.

Marketing Mix

A set of tools used by a business, including Promotion, to achieve its marketing objectives.

Bricks & Clicks

A business model that combines physical retail stores with online selling.

Revenue Streams

The Business Model Canvas block that explains how a company earns money, such as food sales or catering services.

SPC (Oman)

A Single Person Company, which is owned by one person with limited liability.

Value Proposition

The Business Model Canvas block describing the specific benefits offered to customers, such as healthy meals at affordable prices.

Channels

The Business Model Canvas block describing how a company reaches its customers, such as via Instagram or delivery apps.

Customer Relationships

The Business Model Canvas block detailing how a company interacts with customers, such as through loyalty cards or online support.

Key Resources

The Business Model Canvas block identifying critical assets like location, chefs, ingredients, and social media accounts.

Key Activities

The Business Model Canvas block outlining essential tasks like cooking, marketing, and customer service.

Key Partnerships

The Business Model Canvas block listing external collaborators such as food suppliers and delivery companies.

Cost Structure

The Business Model Canvas block identifying all expenses, including rent, salaries, and marketing.