Entrepreneurs and Entrepreneurship Class Notes 11/27

Unit 2 Vocabulary

Explore key terms in Entrepreneurship

Entrepreneur

A person who starts and manages
a business, taking on financial
risks in the hope of making a profit

Entrepreneurship

The activity of setting up a
business or businesses, taking on
financial risks with the goal of
earning a profit

Business ethics

The moral principles and values
that guide the behavior of
individuals and businesses in the
world of commerce

Code of ethics

A set of guidelines or rules that
outline the ethical standards and
expectations for a particular
profession or organization

Innovation

The process of introducing new
ideas, methods, or products,
which can lead to improved
efficiency, profitability, and
customer satisfaction

Mission statement

A written statement that describes the purpose, values, and goals of a company or
organization

The MISSION STATEMENT

Through meaningful learning experiences, Warren County Middle School will partner with all

collaborators to promote an atmosphere of trust, empathy, and student-centered leadership.

Opportunity

A favorable or advantageous
circumstance that can lead to the
creation or expansion of a
business

Small business

A privately owned and operated
business, typically with a small
number of employees, generating
modest revenue