1.1 Enterprise and entrepreneurship Flashcards
(27 cards)
Entrepreneurial activity (can also mean a business or company)
Enterprise
Someone who creates a business, taking on financial risks with the aim of making a profit from the business
Entrepreneur
Someone who buys and uses goods and services
Consumer
Out of date or not used anymore
Obsolete
Using the internet to carry out business transactions
E-commerce
Using mobile technologies, such as smartphones and tablets, to carry out business transactions
M-commerce
Websites that allow users to interact with other users, by sharing text-based messages, pictures or links to online content
Social media
Information, particularly statistics, that can be collected and analysed
Data
Enable businesses to take online payments from customers. They are usually free for the customer to use, but take a small amount of commission from the seller
Payment platform
The activities involved in buying and selling particular types of goods and services, in competition with other companies
Marketplace
The possibility that an enterprise will have lower than anticipated profits or experience a loss
Risk
Relating to the population, such as average age, average income and so on
Demographic
The money that an entrepreneur or investor receives when a business succeeds
Financial reward
The process of gathering information about the market and customers’ needs and wants in order to help inform business decisions, including product
design and marketing
Market research
The amount of money coming in and going out of the business and the timing of the movement
Cash flow
A prediction of future revenue based on expected sales; this is either a judgement or based on previous sales patterns
Revenue forecast
The amount of money that comes in from a business’s sales
Sales revenue
Putting money into a business with the intention of making a profit
Investment
A new business, usually with only a small number of employees – perhaps only one
Start-up
Knowing something instinctively or understanding something easily without conscious thought
Intuition
Anyone who has an interest in the activities of a business, such as its workers, its suppliers,its directors, the local community and the government
Stakeholder
Moral principles or standards that guide the behaviour of a person or business
Ethics
Something that makes a product stand out from its competitors
Unique selling point (USP)
Standards of behaviour or moral principles
Values
