An entrepreneur is a person who creates,
manages and owns his own business
communication and math skills,
concern for personal appearance and
technology skills
include being innovative,
creative and self-reliant
There should be a “demand” for a
product before offering or
developing the product or service
The school-based enterprise should
set a goal to have a product or
service that is inexpensive and easy
to do.
Time available to produce a product
Meeting local health department
requirement
Consultation with the principal for
approval
. .. . is the investigating of various
types of businesses in an area prior
to opening a new business.
. . . determines if the product or
business idea is practical.
.
should be done to find out about the
competition in the market.
A policy is a general statement of intent
It assists in making sales projections
or forecasting amounts to be sold
Target customers or target
market are the people most
likely to buy a specific
product or service.
For example cupcakes
is the operation or control of equipment,
process, or system. It can cut production time,
reduce errors and simplify procedures
are guidelines for product quality and are
developed to benefit the consumer
is the point at which the revenue will cover the
expenses. The company can use this point to predict
when they will begin to make a profit, for their
revenue will exceed the expenses
Objective 4.00 Vocabulary
Word List
See Handout