Enterprise Flashcards
What is an enterprise?
A skill where individuals or organisations are prepared to show initiative and take tasks in order to make things happen
What is innovation?
Bringing new ideas to the market, inventing and developing ideas into products
How do entrepreneurs look for business oportunities?
By looking for gaps in the market and coming up with new ideas by thinking creatively
How is innovation made possible?
By new emerging technologies that allow products to be developed in a new or improved way
What is crowdfunding?
Method of funding a project by raising money from a large number of people
What are the types of crowdfunding?
Donations
Equity
Debt
What is donations?
Where people give money because they believe in the cause
What is equity?
Where money buys shares in the business
What is debt?
Where money is loaned and then paid back with interest added
What is virtual marketing?
Uses marketing techniques in which social networks and websites are used to increase brand awareness
How does virtual marketing work?
By getting websites or users to pass on marketing messages to other websites and users. This makes the message more visible
What is showrooming?
Where shoppers visit shops to examine a product before buying it online at a lower price
What do retails do?
Looking to give shoppers a whole retail world to explore in virtual reality by using developing technologies
What is a co-operative?
A business owned and self-managed by its workers
How does a co-operative work?
Worker-owners work in the business, govern it and manage it
