Vocabulary 4

Question 1

A document or planing tool that defines a business’s objectives and strategies for meeting them; typically includes a business summary or concept model, market research and stated need, and plan for execution.

Answer 1

Business Plan

Question 2

the use of the imagination or original ideas, especially in the production of an artistic work

Answer 2

Creativity

Question 3

a series of steps that engineers and/or innovators can apply to develop a solution to a problem. For this unit we will use a five step engineering process or Ask, Imagine, Plan, Create, Improve.

Answer 3

Engineering Design Process

Question 4

a person who organizes and operates a business or businesses, taking on a greater than normal financial risks in order to do so

Answer 4

Entrepreneur

Question 5

the ability to build on an existing idea, the process of iteration and ongoing development

Answer 5

Innovation

Question 6

the ability to create something new or the act of developing a new process, product, or service

Answer 6

Invention

Question 7

the activity of gathering information, feedback, or research from a specific demographic or consumer group helps to identify the need and value or specific product or service

Answer 7

Market research

Question 8

a government authority or license conferring a right or tittle for a set period, especially the sole right to exclude others form making, using, or selling an invention.

Answer 8

Patent

Question 9

an initial or preliminary model of an idea or concept that is used for evaluation and testing

Answer 9

Prototype

Question 10

Entrepreneurs are driven by:

Answer 10

Impact and profit