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Vocab from Week 2
Question | Answer |
---|---|
Applying principles of right and wrong to situations in the workplace | Business ethics |
A proposal that describes a new business | Business plan |
A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture. | Code of ethics |
An individual who undertakes the risk associated with creating, organizing, and owning a business | Entrepreneur |
The process of starting and operating one’s own business. | Entrepreneurship |
Knowing the difference between right and wrong and consciously choosing to do what is right | Ethical behavior |
Guidelines for human behavior; the study of moral choices and values; choosing between right and wrong. | Ethics |
A brief description of the key points of the business plan | Executive summary |
An employee who coordinates people, processes, and other resources of a business in order for the business to achieve success and make a profit. | Manager |
A written description of the purpose of a company and the management’s philosophy. | Mission statement |
An idea that has commercial value | Opportunity |
Sometimes referred to as “mom and pop” businesses. Small businesses are generally started to create jobs for the owners. | Small business |
A business undertaking involving risk | Venture |