Entrepreneurship and Business Concepts

These flashcards cover key vocabulary and concepts related to entrepreneurship and business practices.

Entrepreneur

Someone who shows vision and creativity, and who takes risks by creating business ventures.

Entrepreneurship

The process of identifying, creating, and managing innovative ventures, driven by individuals who take calculated risks to bring about positive change and financial success.

Enterprise

A business that has been created by aspiring individuals.

Self-fulfillment

Doing something that makes you happy and allows you to pursue your passions and interests.

Self-Actualization

A personal state of doing something that meets the highest level of human needs.

Creative

The ability to come up with new ideas and to find solutions to problems.

Innovative

The ability to identify new methods and ways of doing things and to develop a new idea.

Risk Taker

Being willing to take sensible risks even though there is a chance of failure.

Business Plan

A document that details a company's goals and how it intends to achieve them.

Feasibility Study

A piece of research to find out whether a business or project will work.

Primary Research

The collection of original and firsthand data directly from the source.

Secondary Research

The use of existing data that has already been collected by someone else for a different purpose.

Collateral

An asset that a borrower provides as security in order to secure a loan from a lender.

Fiscal Policy

A collective term for the taxing and spending actions done by the government to influence aggregate demand in the economy.

Monetary Policy

The management of interest rates and the total supply of money in circulation in a business.

Consumer Protection Agencies

Agencies that stop unfair and fraudulent business practices by collecting complaints and conducting investigations.