part 1 7 habits of highly effective teens what is habit #1? be proactive
TRANSCRIPT
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Entrepreneurship
ExamReview
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Part 17 Habits of Highly Effective Teens
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What is Habit #1?
Be Proactive
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The Circle of Control shows a person the difference between their…
Attitudes, choices, responses….and….things that they cannot do anything about.
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Reactive people make choices based on …
Impulses
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What is Habit #2?
Begin with the End in Mind
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A personal motto that states what your life is about.
Personal Mission Statement
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What is Habit #3?
“Put First Things First”
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Doing a project at the last minute is a characteristic of what type of person from Habit 3?
The Procrastinator
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Submitting to peer pressure is a characteristic of what type of person from Habit 3?
The Yes-Man
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Constantly wasting time on stupid things is a characteristic of what type of person
from Habit 3?
The Slacker
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Planning and goal setting is a characteristic of what type of person from Habit 3?
The Prioritizer
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What habit says “you are the driver, not the passenger”?
Habit #1 “Be Proactive”
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Putting tasks into priorities in a central theme to which habit?
Habit #3 “Put First Things First”
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Which habit says, “decide where you want to go and draw up a map to get you there.”
Habit #2 “Begin with the End in Mind”
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Part 2Chapter 1
What is Entrepreneurship?
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The study of how people allocate scarce resources to fulfill
unlimited wants.
Economics
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A new business undertaking that involves risk.
Venture
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An individual who undertakes the creation, organization, and
ownership of a new innovative business.
Entrepreneur
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Money that is left over after a business has paid all of its
expenses.
Profit
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Economic system in which individual people have rights and
freedoms.
Free Enterprise System
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Intangible items that have value and satisfy needs and wants of
customers.
Services
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Tangible items that have value.
Goods
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Limited resources; the difference between demand and supply.
Scarcity
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The amount of goods or services that producers are willing to
provide.
Supply
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The amount of goods or services that people are willing and able
to buy.
Demand
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A basic requirement for survival.
Need
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Something that is not needed for survival but it desired.
Want
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The resources businesses use to produce the goods and services
that people want.
Factors of Production
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All the money, buildings, equipment, tools, and other
goods needed to start a business. The net worth of a business.
Capital
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The amount of money a person puts into his or her business as
capital.
Investment
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A partnership formed among two or more companies.
Strategic Alliance
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The rivalry among businesses for consumer dollars.
Competition
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The ability to make a profit without hurting the environment
or future generations.
Sustainability
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A business that is in the same name as a recognized company.
Franchise
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A new way of doing things. A new idea, method, or device.
Innovation
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A small, specialized segment of the market.
Niche
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Hiring people and other companies to handle tasks a
business chooses not to do for itself.
Outsourcing
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A clear and concise description of a business opportunity including the product, the customer, the benefit, and the distribution.
Business Concept
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The process that tests the business concept to see if it has
potential or not.
Feasibility Analysis
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A collection of businesses with a common line of products or
services.
Industry
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The people who are most likely to buy a business’s products or
services.
Target Customers
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A description of how a business plans to make money within the
business concept.
Business Model
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The description of a new business and strategy to launch
the business.
Business Plan
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A statement of the purpose of the company; the vision for where the company wants to go in the
future.
Vision Statement
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A statement of the aspirations or goals of the company that its
strives for daily.
Mission Statement
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A particular group of customers that a business seeks to attract.
Target Market
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Segmentation based on purchasing behaviors.
Buying Characteristics
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Segmentation of the market based on where people live.
Geographics
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Describing a population by age, gender, income, marital status,
and ethnicity.
Demographics
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Grouping people with similar attitudes, interests, or opinions.
Pyschographics
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The collection and analysis of information aimed at
understanding the consumers in a market.
Market Research
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A group of people whose opinions are studied to help a
business improve.
Focus Group
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The tendency to buy a particular brand or product.
Brand Loyalty
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A feature that makes a product more desirable than its
competitors.
Competitive Advantage
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A business that is owned and operated by one person.
Sole Proprietorship
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A business with two or more owners who share the decisions,
assets, liabilities, and profits.
Partnership
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A business that is owned by shareholders who have
purchased stock but is operated apart from the owners.
Corporation
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The state of being legally responsible for something. Debts
a business has undertaken.
Liability
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The people who own shares of stock in a corporation.
Shareholders
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Vocabulary: Compare & Contrast
Which one protects authors from people copying their work????
??? Patent/Trademark/Copyright
Copyright
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Vocabulary: Compare & Contrast
Which one protects inventors from people copying their invention or their ideas?
??? Patent/Trademark/Copyright
Patent
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Vocabulary: Compare & Contrast
Which one protects companies from people copying their logos and slogans?
??? Patent/Trademark/Copyright
Trademark
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An invention or innovation that is not patented but kept secret
from competitors.
Trade Secret