Flashcards
1.2 Definitions
Cards in this deck (17)
- 1A person who owns and runs their own business and takes risks.Entrepreneur
- 2Another word for businesses.Enterprises
- 3A willingness by an individual or a business to take risks, show initiative and undertake new ventures.Enterprise
- 4The chance of damage or loss occurring as a result of making a decision.Risk
- 5Physical, tangible products like a car, a pair of scissors or a television set.Goods
- 6Non-physical, intangible products like a taxi journey, a haircut or a television programme.Services
- 7Coming up with new and unique ideas.Thinking creatively (or creative thinking)
- 8An advantage a business has that enable it to perform better than its rivals in the market and which is both distinctive and defensible.Competitive Advantage
- 9The intentional creation of new ideas through recognised and accepted techniques.Deliberate Creativity
- 10A technique of creative thinking where participants are encourage to think of as many ideas as possible about an issue or a problem.Blue Skies Thinking
- 11Thinking differently to try and find new and unexpected ideas.Lateral Thinking
- 12The process of transforming inventions into products that can be sold to customers.Innovation
- 13Right of ownership of an invention or process when it is registered with the government.Patent
- 14Legal ownership of material such as books, music and films which prevents these being copied by others.Copyright
- 15The symbol, sign, or other features of a product or business that can be protected by law.Trademarks
- 16The probability of a negative event occurring.Calculated Risk
- 17—
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- Definition activity for 1.2 Showing Enterprise.
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- Luke Callison-Bailey
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