Unit 1 - Entrepreneurship & Innovation - LANC 2070
Study online at https://quizlet.com/_dpd49c
1. entrepreneur
A person who organizes, manages, and takes on the risks
of a business.
2. entrepreneurship
the process of starting, organizing, managing, and assuming the responsibility for a business
3. delineate
To describe accurately and show the differences
4. venture
a risky or daring undertaking
5. innovator
a person who creates new inventions, ideas, or ways of
doing things
6. capital
money for investment in the start of a business
7. investment
the action or process of investing money for profit or material result.
8. visionary
a person with original ideas about what the future will or
could be like
9. trait
specific characteristic of an individual
10. adequate
enough, sufficient
11. enterprise
A business organization in such areas as shipping, mining,
railroads, or factories.
12. eventual
Coming at a later time; happening as a result of.
13. compensation
something, typically money, awarded to someone as a
recompense for labor, loss, injury, or suffering.
14. investors
Those who invest their funds in a business; may be owners
or stockholders
15. regulations
administrative rules that guide the operation of a government program
16. coherence
the quality of being logical and consistent
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Unit 1 - Entrepreneurship & Innovation - LANC 2070
Study online at https://quizlet.com/_dpd49c
17. discrimination
Behaving differently, usually unfairly, toward the members
of a group.
18. collaboration
the act of working together
19. global
(adj.) of, relating to, or involving the entire world; comprehensive
20. impact
an effect or result
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UNIT 2 - Apprenticeship & Product Development - LANC 2070
Study online at https://quizlet.com/_dpd6tj
1. initiative
the power to act or take charge before others do
2. recruitment
the process through which the organization seeks applicants for potential employment
3. autonomous
having the freedom to act independently
4. internship
A position in which a person receives training by working
with people who are experienced in a particular field.
5. apprenticeship
an arrangement in which someone learns an art, trade, or
job from the direction of another
6. transition
(n.) a change from one state or condition to another
7. attrition
reducing the number in a workforce due to retirement/resignation/layoff/ or death
8. potential
capable of occurring or likely to occur
9. component
A part or element of a larger whole.
10. sector
a separate part of a society, group, or area
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UNIT 3 - Success of Organization - LANC 2070
Study online at https://quizlet.com/_dpda0z
1. strategy
a plan of action
2. globalization
growth to a global or worldwide scale
3. multi-national
A business with headquarters in one country but with
business operations in a number of other countries
4. attentive
alert and watchful; considerate; thoughtful
5. market share
a company's product sales as a percentage of total sales
for that industry
6. market segment a group of consumers who respond similarly to a firm's
marketing efforts
7. affluent
rich, wealthy
8. customer driven Marketing strategy that is driven by satisfying the wants
and needs of the customer.
9. customer behav- The way customers select, purchase, use, and dispose
ior
of goods, services, ideas, or experiences to satisfy their
needs and desires.
10. technological ad- the introduction of new techniques or methods so that
vancement
firms can produce more valuable outputs per unit of input
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