Chapter 3: Enterprise, Business Growth and Size Flashcards
1
Q
What is an entrepreneur?
A
Entrepreneur is a person who organises, operates and takes the risk for a new business venture.
2
Q
What is a business plan?
A
A business plan is a document containing the business objectives and important details about the operations, finance and the owners of the new business.
3
Q
What is capital employed?
A
Capital employed is the total value of capital used in the business.
4
Q
What is internal growth?
A
Internal growth occurs when a business expands its already existing operations.
5
Q
What is external growth?
A
External growth is when a business takes over or merges with another business, often called Integration.
