5098371
Description
Flashcards by Luke Callison-Bailey, updated more than 1 year ago
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Created by Luke Callison-Bailey
about 8 years ago
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| Question | Answer |
| A person who owns and runs their own business and takes risks. | Entrepreneur |
| Another word for businesses. | Enterprises |
| A willingness by an individual or a business to take risks, show initiative and undertake new ventures. | Enterprise |
| The chance of damage or loss occurring as a result of making a decision. | Risk |
| Physical, tangible products like a car, a pair of scissors or a television set. | Goods |
| Non-physical, intangible products like a taxi journey, a haircut or a television programme. | Services |
| Coming up with new and unique ideas. | Thinking creatively (or creative thinking) |
| An 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 |
| The intentional creation of new ideas through recognised and accepted techniques. | Deliberate Creativity |
| A 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 |
| Thinking differently to try and find new and unexpected ideas. | Lateral Thinking |
| The process of transforming inventions into products that can be sold to customers. | Innovation |
| Right of ownership of an invention or process when it is registered with the government. | Patent |
| Legal ownership of material such as books, music and films which prevents these being copied by others. | Copyright |
| The symbol, sign, or other features of a product or business that can be protected by law. | Trademarks |
| The probability of a negative event occurring. | Calculated Risk |
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