Entrepreneurial terms

It can be described as a process of action an entrepreneur undertakes to establish his enterprise.

• Enterprise

• Entrepreneur

• Entrepreneurship

• Intrapreneur

_______________ is a thought, an opinion or mental impression.

Steve Jobs, revolutionized the economy by introducing groundbreaking products such as the iPhone, which transformed communication, commerce, and technology industries. His vision and innovation exemplify how a single entrepreneur can drive significant economic change. Identify the term being discussed here

• Risk taker

• Catalytic agent

• Motivator

• Planner

1.      The word _________ was originally a French word. In the 18th century, it was adapted by English speaking communities to mean “The management of money.”

Assigning work and granting, making optimum use of the resources required to enable the successful carrying out of plans.

• Planning

• Staffing

• Controlling

• Organising

• Motivation 

   

________ is the return received on a business undertaking after all operating expenses have been met.

 

The performance of any duties or work for another and getting remuneration

• Risk

• Product

• Services

• Innovation

__________ is the step involves mapping out exactly how to achieve a particular goal and deciding in advance

In a manufacturing company, the manager established production standards, regularly measured actual output, and compared it to the set targets. Upon finding discrepancies, corrective actions such as equipment upgrades and additional training were implemented to align performance with standards. Which management function of entrepreneur has been discussed in the case.

• Planning

• Controlling

• Leadership

• Organising

It is the fourth factor of production, it assembles, coordinates and manages the other factors namely land, labour, capital to start a new business.