Mid-term revision Flashcards
what is meant by the term enterprise
a business organized by an entrepreneur who makes decisions and takes risks
what is meant by the term business enterprise
a type of enterprise that usually has profit as its main objective
what is meant by the term social enterprise
a type of enterprise that doesn’t usually have profit as its main objective
what is meant by the term risk
a possibility that evets in relation to an enterprise don’t turn out as expected
what is meant by the term innovative
the introduction of something new or different
what is meant by the term creative
the introduction of something original and imaginative, not imitated
what is meant by the term positive attitude
the tendency to be optimistic
what is meant by the term enterprise capabilities
skills and responsibilities of an entrepreneur like being innovative and having a positive attitude
how to be innovative in an enterprise
by coming up with new ideas/products
how to be creative in an enterprise
turning new and imaginative ideas into reality, to see the world in new ways
how to have a positive attitude in an enterprise
by being optimistic and seeing into the future of the company/enterprise and to always think in a positive way
what is meant by the term stakeholder
a person or group or organization with an interest in the activities of an enterprise
what are internal stakeholders
the members of the enterprise such as owners, employees etc.
what are external stakeholders
people from outside the enterprise like government, customers and suppliers
what are the different stakeholders
owners, suppliers, government, customers, managers, employees, community, financiers
what do the owners do in an enterprise
put money into the business and will get a share if the business succeeds, they are the risk takers
what do customers do in an enterprise
buy the products of a business, most businesses make products according to the interest of the customers, because without them the company is nothing
what do employees do in a business
get employed by the business and work under the manager, they need training to do their job properly
what do managers do in a business
employed by the business, control the workers below them and take risks towards the company
what do financiers do in a business
provide money to the business
what do suppliers do in a business
provide materials for the business for the production of goods and services
what is the governments role in a business
wants the business to succeed so they get tax income and want to create job s to increase the countrys income
what is a positive impact of an enterprise on a local community
improves the quality of life of the local people by providing goods and services like food and clothes
what is a negative impact of an enterprise on a local community
noise, pollution
