DECA - Entrepreneurship Flashcards
What is acquisition?
Taking ownership of another business. Mostly used when describing mergers.
What is advertising?
Attracting public attention to a product or business through paid announcements in print, broadcast, or electronic media.
What is entrepreneurial discovery?
The process of systematically scanning for technological, political, and regulatory, social, and demographic changes to discover opportunities to produce new goods and services
What are the steps in entrepreneurial discovery?
Discovery, evaluation, and exploitation
What are the four types of industry risk?
Complex industry, over-served industry, failing industry, and difficult suppliers
What is industry risk?
Factors that can positively or negatively impact a specific industry and, by association, the companies in it. They can affect your business’s growth, profitability, and volatility.
