Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
26 Cards in this Set
- Front
- Back
|
Entrepreneur
|
A person who owns and runs their own business and is willing to take risks
|
|
|
Enterprise
|
The willingness to take risks, show initiative and undertake new ventures
|
|
|
Risk
|
The chance of loss of money or damage to your business from decisions.
|
|
|
Thinking Creatively
|
Coming up with new and unique ideas
|
|
|
Competitive Advantage
|
Something a business has that allows it to perform better than its rivals.
|
|
|
Deliberate Creativity
|
The intentional creation of new ideas which does not rely on traditional methods.
|
|
|
Lateral Thinking
|
Thinking differently to try and find new and unexpected ideas and ways of doing things.
|
|
|
Blue Skies Thinking
|
Creative thinking where you come up with as many ideas as possible and none are dismissed as unsuitable.
|
|
|
Why Questions
|
Asking questions that challenge the way things are done...why do ice lollies need to be on sticks?
|
|
|
Why not questions
|
Asking questions to come up with new ways of doing things ...why not have ice lollies in tubes?
|
|
|
Invention
|
The discovery of new processes and potential new products.
|
|
|
Innovation
|
Transforming inventions so they can be sold to customers.
Getting inventions to market. |
|
|
Patent
|
Ownership of an invention or process that is registered with the government.
|
|
|
Copyright
|
Legal ownership or books, music and films which prevents them from being copied (generally words)
|
|
|
Trademarks
|
Symbols or signs that can be protected by business law.
|
|
|
Calculated Risk
|
Working out the probability of a negative outcome from your decision.
|
|
|
Downsides
|
The disadvantages of a decision, what can go wrong.
|
|
|
Upsides
|
The advantages of a decision, what can go right.
|
|
|
Enterprise Skills
|
The skills needed by an entrepreneur to be successful.
|
|
|
Seeing opportunities (Enterprise Skill)
|
The ability to be able to spot gaps and fill them to hopefully make a profit.
|
|
|
Effective Planning (Enterprise Skill)
|
Doing your research before you make any decisions and being organised to help prevent business failure.
|
|
|
Thinking ahead (Enterprise Skill)
|
Thinking about what the future may hold and planning for this, changing when necessary.
|
|
|
Drive and Determination (Enterprise Skill)
|
Having the motivation and enthusiasm to make things happen and see them through.
|
|
|
Making Connections (Enterprise Skill)
|
Being able to see the links between things and taking advantage of this.
|
|
|
Initiative (Enterprise Skill) |
Being pro-active and getting a job done. Not having to be told what to do eg putting offers on when sales start to drop |
|
|
Reward |
The benefits gained from a successful idea eg profit |
