Chapter 6 Flashcards Preview

Business Management BUS 310 > Chapter 6 > Flashcards

Flashcards in Chapter 6 Deck (12)
Loading flashcards...
1

Mompreneurs

Pursues business opportunities they spot as mothers

2

Social Entreprenuers

Take risks to find new ways to solve pressing social problems such as poverty, literacy, illness, and homelessness

3

Entrepreneurship

Risk taking behavior that results in new opportunities

4

Classical Entrepreneur

Pursues opportunities others view as problems

5

Intrapreneurs

Display entrepreneurial behavior as employees of larger firms

6

4 Forms of Business Ownership

1) Sole Proprietorship
2) Partnership
3) Corporation
4) Limited Liability Corporation

7

Sole Proprietorship

An individual or married couple pursuing business for a profit

8

Partnership

Two or more people agree to contribute resources to start and operate a business together

9

Corporation

A legal entity that exists separately from its owners

10

Limited Liability Corporation

A hybrid business form combining the advantages of the sole proprietorship, partnership, and corporation.

11

Business Plan

Describes the direction for a new business and the financing needed to operate it

12

Elements of Business Plan (bad flashcard)

Executive summary, industry analysis, company description, product and services description, market description, marketing strategy, operations description, staffing description, financial projection, capital needs, milestones