Entrepreneurship Concepts

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Entrepreneurship

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The process of starting, developing, managing and assuming the responsibility for a business

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Business Plan

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A written description of a business idea and how it will be carried out.

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Small Business

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An independent business with fewer than 500 employees

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Persistence in Entrepreneurship

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Staying determined despite obstacles and setbacks.

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Risk Tolerance

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A characteristic of entrepreneurship. Willingness to take calculated risks for the potential of reward.

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Comfort with Failure

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A characteristic of entrepreneurship. Not being afraid to fail, and using it as a learning experience.

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Long-Term Focus

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A characteristic of entrepreneurship. Thinking beyond the immediate moment, focusing on sustainable success.

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Flexibility and Work-Life Balance is a _____ of entrepreneurship.

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Pro

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Responsibility and Pressure is a _______ or entrepreneurship.

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Con (negative)

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What is a Corporation?

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A business that is legally separate from its owners (shareholders).