ADM1300C 3def - time. Sales forecast: an estimate of how...

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ADM1300C – Chapter 3: Understanding Entrepreneurship, Small Business, and New Venture Creation 2009 Nascent Entrepreneurs: people who are trying to start a business from scratch. Small business: on owner-managed business with less than 100 employees. New Venture/ firm: a recently founded commercial organization that provides goods and/ or services for sale. Entrepreneurship: the process of identifying an opportunity in the marketplace and accessing the resources needed to capitalize on it. Entrepreneurs: people who recognize and seize opportunities. Intrapranuers: people who create something within an existing large firm or organization. Private Sector: the part of the economy that is made up of companies and organizations that are not owned or controlled by the government. GDP: refers to the market value of all final goods/services produced within a country in a given period of
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Unformatted text preview: time. Sales forecast: an estimate of how much of a product/service will be purchased by prospective customers over a specific time. Franchise: an arrangement in which a buyer (franchisee) purchases the right to sell the products or services of the seller (franchiser). Business plan: a document that describes the entrepreneurs proposed business venture; explains why it is an opportunity; and outlines its marketing plan, its operational and financial details, and its managers skills and abilities. Bootstrapping: doing more with less. Collateral: assets that a borrower uses to secure a loan or other credit, and that are subject to seizure by the lender if the loan isnt repaid according to the specified repayment terms....
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This note was uploaded on 09/28/2009 for the course ADM 1300 taught by Professor Koppel during the Fall '08 term at University of Ottawa.

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