CHAPTER 6 terms

Understanding Business

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CHAPTER 6 – Entrepreneurship and Starting a Small Business Entrepreneurship accepting the risk of starting and running a business Reasons: Opportunity, Profit, Independence, Challenge Attributes: Self Directed, Self-Disciplined, Self-Nurturing, Action Oriented, Highly Energetic, Tolerant of Uncertainty Entrepreneurial Team a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make and market a new product. Micropreneurs entrepreneurs willing to accept the risk of starting and managing a type of business that remains small, lets them do the kind of work they want to do, and offers them a balanced lifestyle. Most micropreneurs work from home. Challenges include getting new customers, managing time, keeping work and family tasks separate, abiding by city ordinances, managing personal risk. Intrapreneurs creative people who work as entrepreneurs within corporations,
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