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