Card Set Information
Starting your small business
Is one in which the principle objectives of the entrepreneurial are profit and growth
Sometimes called micro business, is any business that is independently owned and operated
Small Business owner
Establishes a business for the principle of furthering personal goals, which may include making a profit.
Starts and manages a business for many reasons, achievment, profit, and growth.
Is the fundamental redesign of a business often in resulting in reducing in size and markets.
Is the redesign of operations starting from scratch.
Is reducing the number of employees to increase efficiency.
Are the goals toward which the activities of the business are directed
Is the revenue received by a business in excess of the expenses paid.
Is expecting to make a profit as the reward for taking the risk of starting and running the business.
Are goals regarding assisting groups in the community and protecting the environment.
Are those in which 40% or more human resources are professionals, technicians or other knowledge workers.
Is a voluntary decision to terminate a business
Results from inability to succeed in running a business
Are failures ending in court with loss to creditors.
Personal (informal) failures
In which the owner who cannot succeed voluntarily terminates the business