Showing Enterprise Flashcards
Who is a person who owns and runs their own business and takes risks.
Entrepreneur
What is enterprise
A willingness by an individual or a business to take risks, show initiative and undertake new ventures.
What type of products are what you psychically have
Goods
What are you providing in a taxi journey or an hair cut
Service
What is “An advantage a business has that enable it to perform better than its rivals in the market and which is both distinctive and defensible.”
Competitive Advantage
What is the difference between Lateral and blue sky thinking
Lateral Thinking-Thinking differently to try and find new and unexpected ideas.
Blue sky thinking- A technique of creative thinking where participants are encourage to think of as many ideas as possible about an issue or a problem.
What is the difference between invention and innovation
invention-The discovery of new processes and potential new products, typically after a period of research.
Innovation-The process of transforming inventions into products that can be sold to customers.
Define the word"Right of ownership of an invention or process when it is registered with the government. " Goods Copyright Trademark Patent
Patent
What is the difference between Copyright and Trademark
Copyright-Legal ownership of material such as books, music and films which prevents these being copied by others.
Trademark-The symbol, sign, or other features of a product or business that can be protected by law.
What is the probability of something negative going to happen
Calculated Risk
What is a bus journey
Service
What a pencil Case
Goods
