Entrepreneurial Management & Consumer Behavior – Class Orientation Vocabulary

30 vocabulary flashcards covering essential terms and concepts introduced during the class orientation for Entrepreneurial Management & Consumer Behavior.

Entrepreneurship

The interdisciplinary process of identifying opportunities, launching, and operating a business, often while still in school.

Entrepreneurial Management

A course (MEL101) that teaches students to think, act, and make decisions like entrepreneurs while running small ventures.

Consumer Behavior

The study of how individuals and groups select, purchase, use, and dispose of goods and services.

Course Description

A concise overview outlining the scope, skills, and learning methods of a subject.

Course Objectives

Specific goals that detail the knowledge and skills students should acquire by the end of the course.

Attendance Policy

Set of rules governing student presence in class, including punctuality and consequences for absences.

Tardiness

Arriving late to class; three instances equal one absence according to the policy.

Excuse Letter

Written justification, with supporting documents, submitted after an absence to have it validated.

Grading System

The scheme that allocates percentages to various assessments to compute final grades.

Formative Assessment (FA)

Ongoing evaluations such as attendance, quizzes, seat work, and recitation worth 30% of the grade.

Creative Assessment (CA)

Projects, case studies, and paper requirements that account for 30% of the grade.

Summative Assessment (SA)

Major examinations (Midterm and Finals) that comprise 40% of the final grade.

Business Plan

A formal written document detailing a venture’s objectives, strategies, market analysis, and financial projections.

Target Market

The specific group of consumers a business aims to reach with its products or services.

Location Determination

The process of selecting a site where a business will operate to best reach customers.

Production of Goods and Services

The creation and delivery of products or offerings to satisfy consumer needs.

Department Head

The academic leader responsible for overseeing a specific department, e.g., Hotel and Restaurant Management.

Director

A supervisory position managing a specialized unit such as an Assessment Center or Alumni Office.

Consultation Hours

Scheduled time when students can meet the professor to discuss course-related concerns.

Perfect Attendance Incentive

An additional 5 points awarded on exams for students with no absences in a grading period.

Transmutation Table

A chart converting computed raw scores into transmuted or official grades.

Class President

Student leader who represents and oversees the class’s overall activities and discipline.

Class Secretary

Officer responsible for accurate attendance checking and record keeping.

Logistics Officer

Student tasked with managing classroom setup and equipment for smooth sessions.

Time Keeper

Class officer who monitors time and reminds the teacher of breaks and dismissal.

Class Program

Structured sequence of activities during each session, from invocation to dismissal.

Hands-on Learning

Educational approach emphasizing practical, experiential activities to reinforce concepts.

Inquiry-based Learning

Student-centered method encouraging questioning, exploration, and investigation to acquire knowledge.

Risk-taking

The entrepreneur’s willingness to assume uncertain outcomes when pursuing business opportunities.

Marketplace

The venue, physical or virtual, where products reach consumers or are presented to investors.