ENTREPRENEURSHIP CH 1 VOCABULARY

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SERIAL ENTREPRENEUR

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Taking lessons learned from previous businesses and apply them to new businesses

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DOT-COM COMAPANY

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Business run entirely on the Internet; usually their electronic address ends in ".com"

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ENREPRENEURSHIP

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The process of being an entrepreneur

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REWARD

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Something you get in exchange for starting a business; examples being money, personal satisfaction, independence

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RISK

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The chance of losing something; example being time, money, or energy

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SERVICE

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Something that a business does for a customer in exchange for money; examples being hair cut or washing a car

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PRODUCT

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Tangible items that a business sells to the consumer; examples being shoes or a book

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EMPLOYEE

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Someone who works for someone else

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BUSINESS

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Provides goods and/or services to satisfy a consumers wants or needs to make a profit

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ENTREPRENURIAL

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To think or act like an entrepreneur