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16 Cards in this Set
- Front
- Back
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_____ is the process of initiating a business venture, organizing the necessary resources, and assuming the associated risks and rewards.
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ENTREPRENEURSHIP
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An ___ recognizes a viable idea for a business product or service and carries it out by finding and assembling the necessary resources—money, people, machinery, and location—to undertake the business venture.
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ENTREPRENEUR
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An ___ ___ __ ____ is the belief by individuals that their future is within their control and that external forces will have little influence.
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INTERNAL LOCUS OF CONTROL
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An ___ ____ __ ____ is the belief by individuals that their future is not within control but rather is influenced by external forces.
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EXTERNAL LOCUS OF CONTROL
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The ___ __ ____ is a human quality lined to entrepreneurship that means people are motivated to excel and pick situations in which success is likely.
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NEED TO ACHIEVE
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____ __ _____ is the psychological characteristic that allows a person to be untroubled by disorder and uncertainty.
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TOLERANCE FOR AMBIGUITY
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A ____ ___ is a document specifying the business details prepared by an entrepreneur prior to opening a new business.
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BUSINESS PLAN
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A ___ _____ is an unincorporated business owned by an individual for profit.
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SOLE PROPRIETORSHIP
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A ____ is an unincorporated business owned by two or more people.
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PARTNERSHIP
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A ___ is an artificial entity created by the state that exists apart from its owners.
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CORPORATION
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Borrowing money that has to be repaid at a later date to start a business is referred to as __ _____.
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DEBT FINANCING
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___ ____ refers to financing from wealthy individuals who believe in the idea for a start-up and are willing to invest their personal funds and provide advice and assistance to the entrepreneur to help the business get started.
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ANGEL FINANCING
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___ _____ consists of funds that are invested in exchange for ownership in the company either by owners or those who buy stock in the company.
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EQUITY FINANCING
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A ___ ___ __ is a group of companies or individuals that invests money in new or expanding businesses for ownership and potential profits.
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VENTURE CAPITAL FIRM
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_____ is an arrangement in which the owner of a product or service allows others to purchase the right to distribute the product or service with help from the owner.
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FRANCHISING
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A ____ ____ typically provides shared office space, management support services, and management advice to entrepreneurs.
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BUSINESS INCUBATOR
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