Entrepreneurship WW1 Reviewer

Entrepreneur

Entrepreneur

an individual who creates an innovative business, bearing most of the risks and enjoying most of the rewards.

Entrepreneurship

The process of creating a innovative business.

Necessity

Type of entrepreneurship where this is individuals who start businesses because they cannot find a decent job (or in some cases, keep one).

Opportunity

Type of entrepreneurship where people who leave or shun good employment to pursue even more lucrative or attractive careers as entrepreneurs.

Regular Entrepreneurship

The primary goal of this entrepreneurship is to maximize profits.

Social Enterprise

A type of entrepreneurship where in this is a self sustaining, yet a way to tackle a social or environmental issue. No external money is needed to grow and impact more lives.

NGO

Addresses the social and environmental problems via direct intervention. Gains funds via fundraising or donations.

Product Innovation

A type of Innovation where in this refers to what you design and create, including the quality of the materials used.

Process Innovation

A type of innovation where in the translation of an idea into goods or services that create value.

Price Innovation

A type of innovation where in this allows buyers to pay what they want for different types of product.

Place Innovation

A type of innovation where in a thousand branches used as outlets where consumers can buy. This as-well significantly improved availability of the products and decrease bargaining power risk.

Service Innovation

This is a type of innovation where in this is about embracing creativity and adaptability to stay attuned to the ever-shifting demands of the market and the dynamic preferences of consumers.

Physical Environment Innovation

A type of innovation where in this creates an ambience which relates to the business or operation.

Scalable Startup

A type of entrepreneurship where in a new company that's in the initial stages and has yet to begin full-scale operations. It focuses on one product or service that owners want to develop and bring to market.

Small Business

A type of entrepreneurship where in they start as and remain small businesses.

Large Corporation

A type of entrepreneuship where in these companies may involve large-scale production, manufacturing, and distribution and they're made up of various levels of management.

Employment Development

One of the 4 needs of a social entrepreneurship where in: they provide employment opportunities and job training to the disadvantaged segments of society.

Innovation

One of the 4 needs of a social entrepreneurship where in: they provide solutions for societal problems like illiteracy, hunger, malnutrition, gender equality, and environmental protection.

Social Capital

One of the 4 needs of a social entrepreneurship where in: this is needed to maintain long-term relationship between communities and countries that practices the ethics of cooperation.

Equity Promotion

One of the 4 needs of a social entrepreneurship where in: They are the change agents that provide unmet social needs.

Corruption

The first factor that negatively affects business growth.

High interest rates and no access to finance

The second factor that negatively affects business growth.

Lack of skilled workforce

The third factor that negatively affects business growth.

Lack of product/service demand

The fourth factor that negatively affects business growth.

Slow economy and rising costs

The fifth factor that negatively affects business growth.

No access to infrastructure and electricity

The sixth factor that negatively affects business growth.

Business Idea Generation

The first entrepreneurial process where in this is an idea that you would like to innovate.

Development of a Business Plan

The second entrepreneurial process where in this is a document that outlines a company’s goals and the strategies to achieve them.

Gathering of Resources

The third entrepreneurial process where in this is the method that you will use to create your product.

Management of Resulting Enterprise

The fourth entrepreneurial process where in you open the business itself or manage/monitor the business operations.

Trade Mark

A type of Intellectual Property Rights where in this is used by a business to protect their brands.

Copyright

A type of Intellectual Property Rights where in this covers the protection for documents, maps, plans, and websites.

Design Rights

A type of Intellectual Property Rights where in this protects jewelries, clothes, and furniture.

Patent

A type of Intellectual Property Rights where in this protects a process, method, accessories, software, hardware, and the like.

Advertising Innovation

A type of innovation where in the hiring of popular celebrities take place and make use of social media.

Securing a paycheck

What is the first risk when it comes to entrepreneurship?

Depending on a personal capital

What is the second risk when it comes to entrepreneurship?

Evaluating popular interest

What is the third risk when it comes to entrepreneurship?

Sacrificing time

What is the fourth risk when it comes to entrepreneurship?

Depending on key employees

What is the fifth risk when it comes to entrepreneurship?

Passion

What is the first reward when it comes to entrepreneurship?

Satisfaction

What is the second reward when it comes to entrepreneurship?

Self-employment

What is the third reward when it comes to entrepreneurship?

Financial Reward

What is the fourth reward when it comes to entrepreneurship?

Business Model Innovation

The type of innovation where in it is the combination of product and process innovation to create new models.