Entrepreneur & Business Concepts Vocab quiz review

What is the process of working together with others to achieve a common goal, often enhancing creativity and problem-solving in business?

• Leadership

• Collaboration

• Innovation

• Entrepreneurship

Michael is working on a project to launch a new product. What is a detailed plan designed to achieve a specific goal or outcome, often involving careful consideration of resources and actions?

• Strategy

• Equity

• Risk

• Vision

What term describes the ownership value of an asset after deducting any liabilities?

• Revenue

• Equity

• Profit

• Debt

What is the introduction of new ideas, products, or methods that improve or change existing processes and practices?

• Innovation

• Collaboration

• Strategy

• Leadership

During a business conference, Mason is trying to meet new people to exchange information and develop professional contacts. What is this process called?

• Networking

• Planning

• Investing

• Marketing

Liam is starting a new tech startup and needs money to support his business. What is the money provided to support a business or project, which can come from various sources like investors, loans, or grants?

• Revenue

• Capital

• Equity

• Profit

Anika is a person who starts and runs her own business, taking on financial risks in the hope of profit. What is Anika?

• Manager

• Entrepreneur

• Investor

• Consultant

Noah and Anika are discussing what is an event or process that drastically changes an industry or market, often due to new technology or business models?

• Disruption

• Innovation

• Strategy

• Networking

What is the action of leading a group or organization, guiding and influencing people to achieve common goals?

• Management

• Leadership

• Collaboration

• Planning

What is the ability to find quick and clever ways to overcome difficulties, making effective use of available resources?

• Creativity

• Resourcefulness

• Innovation

• Strategy