Year 7 Economics And Business

Front 1

entrepreneur

Back 1

Is a person who sets out to build a successful business in a new field, who takes calculated risks in search of a profit.

Front 2

Self-management

Back 2

Is when an entrepreneur is their own boss.

Front 3

Job Security

Back 3

Is when you know the job you have now will, continue to be your job in the future.

Front 4

Financial Success

Back 4

Is when your business runs at profit year after year.

Front 5

profit

Back 5

Is the surplus remaining after total costs (expenses) are deducted from total revenue. (income)

Front 6

globalisation

Back 6

Is the term describing a broad outlook of an interconnected and independent world with free transfer of capital, goods, and services between countries.

Front 7

vision

Back 7

Is the overall idea for how to make a business idea s success.

Front 8

High Energy Level

Back 8

Is a personality characteristic that shows a willingness.

Front 9

Need to Achieve

Back 9

Is a personality characteristic that is a driving factor for entrepreneurs that work hard because they want to excel.

Front 10

Self-Confidence

Back 10

Is a personality character that shows fearlessness in the face of difficult odds.

Front 11

Tolerance for Failure

Back 11

Is a personality characteristic that shows entrepreneurs are not easily discouraged by set backs.

Front 12

Creativity

Back 12

Is a personality characteristic of entrepreneur that help them devise innovative ways to overcome difficult problems and situations.

Front 13

Unique Selling Point

Back 13

Is determining how a business is to differentiate itself from the competition.

Front 14

advertisement

Back 14

Is a paid, non-personal, public communication about a business, through means such as direct mail, print, radio, television, and the internet.

Front 15

market

Back 15

Is all the people interested in a certain product.

Front 16

market share

Back 16

Is the percentage of the market that one particular business has.

Front 17

Customer satisfaction

Back 17

Is a measure of how satisfied customers are when they consume a product or use a business’s service.

Front 18

Staff morale

Back 18

Is a measure of how happy the workers are.

Front 19

Sales targets

Back 19

Is a specific amount of a certain number

Front 20

Entrepreneurial capability

Back 20

Are the set of characteristics that make people successful entrepreneurs.

Front 21

Trends in data

Back 21

Is the patern observation in the business’s data, such as increasing, decreasing, stagnating or yo-yoing

Front 22

Initiative

Back 22

Is a personality characteristic of entrepreneurs that shows how they lead their business to success through action.

Front 23

Analyse

Back 23

Is the ability to read data to identify trends and use the information to make predictions about the future.

Front 24

research

Back 24

Is the ability to gather data and information that is crucial to develop business ideas.

Front 25

communication

Back 25

Is the ability to share ideas, write proposals, monitor staff and monitor the success of business decisions