Business Terms Flashcards

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Entrepreneur

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A person who identifies an opportunity, takes the initiative to create and organize a business, and assumes the financial risks in the hope of making a profit.

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Start-up

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A newly established company, often in its early stages of development, built around an innovative product, service, or business model.

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Founder

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The individual (or group) who originally creates a company or organization, bringing the initial idea to life and laying down the vision, mission, and strategy for the business.

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Investment

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The allocation of money, time, or resources into a business with the expectation of generating future returns.

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Investor

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An individual or organization that provides financial capital to a business in exchange for potential financial returns.

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Profit

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The financial gain a business achieves when revenue exceeds costs and expenses.

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Loss

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The opposite of profit—when a business’s expenses exceed its revenues during a given period.

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Risk

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The potential of losing money, resources, or opportunity in business decisions.

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Innovation

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The creation or introduction of a new product, service, process, or business model that adds value and solves problems.

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Market research

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The process of collecting and analyzing information about customers, competitors, and industry trends to make informed business decisions.