3.02 Entrepreneurship

3.02 Entrepreneurship

Entrepreneur

• An individual who undertakes the risk associated with creating, organizing, and owning a business.

Multiple Select

Which of the following statements describe an entrepreneur? Check all that apply.

• commonly seen as an innovator, a source of new ideas, goods, services, and business/or procedures.

• play a key role in any economy, using the skills and initiative necessary to anticipate needs and bringing good new ideas to market.

• an individual who creates a new business, bearing most of the risks and enjoying most of the rewards

• a person who competes in one or more sports that involve physical strength, speed or endurance.

Entrepreneurship

The process of starting and operating one's own business.

Multiple Choice

True or False: Entrepreneurship that proves to be successful in taking on the risks of creating a startup is rewarded with profits, fame, and continued growth opportunities.

• True

• False

Business ethics

• Applying principles of right and wrong to situations in the workplace.

Multiple Select

Which of the following show good business ethics? (Check all that apply)

• Showing trustworthiness

• Showing respect

• Being fair

• Showing care

Multiple Choice

Which of the following is NOT good business ethics?

• Putting Customer Needs First

• Respecting Customer Information

• Being Transparent

• Taking Sides in an Employee Argument

code of ethics

• A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture.

Poll

Finding out that an employee has broken the law after work... Do you think this is a violation of a business code of ethics?

• Agree

• Disagree

Innovation

• A new or different product.

Multiple Choice

Creating new value and/or capturing value in a new way is known as

• innovation

• invention

• entrepreneurship

• ethical standards

Mission statement

A written description of the purpose of a company and the management's philosophy.

"We ignite opportunity by setting the world in motion."

• Uber is a popular rideshare app where users request a ride, get picked up from wherever they are, and get dropped off wherever they want.

• Yet their mission goes beyond getting people from point A to point B: With their technology, they hope to bring about new opportunities for their passengers, helping them meet new people and explore new places.

• It's quite simple, really: They want to set the world in motion. 

Small business

• Sometimes referred to as "mom and pop" businesses. Small businesses are generally started to create jobs for the owners.

Multiple Select

Which of the following businesses in Walkertown are small businesses? (Check all that apply)

• Webster Brothers

• Pizza Hut

• Dollar General

• Seafood Shack

• M&D Pawn