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Understanding Entrepreneurship: Key Concepts and Resources

This overview explores essential vocabulary related to entrepreneurship, particularly focusing on the start-up process. It covers topics such as enterprise zones that offer tax benefits for new businesses, and the importance of opportunity and resources during the start-up phase. Key components include start-up resources like capital, labor, and management. Additionally, it defines business failure, discontinuance, and the role of information technology in modern business operations. Insights into e-business and e-commerce are also provided, highlighting their significance in today’s marketplace.

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Understanding Entrepreneurship: Key Concepts and Resources

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Presentation Transcript

  1. Ch. 1.2 Vocabulary & Notes Entrepreneurship

  2. The Entrepreneurial Start-Up Process

  3. Enterprise Zones • Specially designed areas of a community that provide tax benefits to new businesses locating there

  4. Opportunity • An idea that has commercial value

  5. Start-Up Resources • Capital • Labor • Advice • Management • Facility • Equipment • Customers

  6. New Venture Organization • Written plan or infrastructure that organizes the business

  7. Business Failure • A business that has stopped operating with a loss financially

  8. Discontinuance • When a business begins operating under a new name

  9. Information Technology (IT) • Any technology that is used to communicate or exchange information

  10. Technology Infrastructure • Includes all hardware and software used to support electronic communication

  11. E-business • Doing business over an electronic network

  12. E-commerce • Selling products and services over the internet

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