Chapter 6 Flashcards
Accepting the risk of starting and running a business
Entrepreneurship
A group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product
Entrepreneurial Team
Entrepreneurs willing to accept the risk of starting and managing the type of business that remains small, lets them do the kind of work they want to do, and offer them a balanced lifestyle
Micropreneurs
An internet-based marketing strategy in which a business rewards individuals or other businesses (affiliates) for each visitor or customer that affiliate sends to its website
Affiliate Marketing
Creative people who work as entrepreneurs within corporations
Intrapreneurs
Specific geographic areas to which governments try to attract private business investment by offering lower taxes and other government support
Enterprise Zones
Centers that offer new businesses low-cost offices with basic business services
Incubators
A business that is independently owned and operated, is not dominant in its field of operation, and meets certain standards of size (set by the Small Business Administration) in terms of employees on annual receipts
Small Business
A detailed written statement that describes the nature of the business, the target market, the advantages the business will have in relation to competition, and the resources and qualifications of the owner(s)
Business Plan
Individuals or companies that invest in new businesses in exchange for partial ownership of those businesses
Venture Capitalists
A U.S. government agency that advises and assists small business by providing management training and financial advice and loans
Small Business Administration (SBA)
A program through which private investment companies licensed by the Small Business Administration lend money to small businesses
Small Business Investment Company (SBIC) Program
People with unsatisfied wants and needs who have both the resources and the willingness to buy
Market
An SBA office with volunteers from industry, trade associations, and education who counsel small business at no cost (except for expenses)
Services Corps of Retired Executives (SCORE)
