ESB Lesson 1 Vocab

What is autonomy in business?

• A local agency with information on participating local businesses.

• The freedom to work how you want to.

• Passion for work through ups and downs.

What does ambiguous or ambiguity mean?

• An amount of money owed to an entity

• Unclear or uncertain

• The likelihood of an event occurring.

What is risk tolerance?

• The level of willingness to lose time and money when starting a business

• When you enjoy taking big risks

• When you hate taking big risks

Which of these would have only businesses in the same industry?

• Chamber of Commerce

• Trade Show

What is collateral?

• A monetary amount given to employees in return for their work in a business.

• A government-backed currency used for payments.

• Tangible goods a business puts up for risk in exchange for a loan.

Match the following

• Future-oriented

• Someone who consistently believes in the dream of owning a business.

• Self-reliant

• Someone who fears losing too much money when starting a business

• Risk-averse

• Someone who looks ahead for the next opportunity or challenge.

What is enthusiasm?

• The level of want for a product or service.

• Passion for work through ups and downs.

• Wanting to give up entrepreneurship.

What is a venture capitalist?

• A type of business with a single owner.

• The expenses incurred for running day-to-day tasks in a business.

• A private investor that provides capital to businesses in exchange for equity.

Match the following characteristics.

• A willingness to take risks despite possible losses

• Tenacious

• The desire to succeed over the desire of money

• Courage

• A willingness to see things through / hard work

• Value Achievement

• Belief in your entrepreneurial dream

• Self-Reliant

What is stagnation?

• Lack of activity, growth, or development.

• The desire to succeed and achieve over the desire for money.

• A reason for gaining investments and/or customers for a business.