Across
- 2. the ability of a business to pay its short-term debts on time
- 4. opportunity, something an entrepreneur can see as an avenue to success
- 6. social responsibility, when business consider the interest of stakeholders, society and the environment when making business decisions
- 7. loan, where the borrower offers an asset as security for a loan
- 10. the debts owed by a company to others
- 13. by a business owned and operated by between 2 and 20 people
- 15. item of value
- 16. the process of creating a new or significantly improved product, service or process (way of doing something)
- 19. the clear, shared sense of direction that allows people to achieve a common goal
- 21. funds contributed by the business owners
- 22. a legal document which is issued by companies that are offering securities for sale
- 23. statement, summary of income earned and the expenses incurred over a period of trading
- 24. trader, a business that is owned and operated by one person
- 26. a government levy or revenue measure that can be used as part of the government budget to affect the level of prices, the growth and distribution of income
- 27. person who sets out to build a successful business in a new field or with a new idea. An entrepreneurs methods are regarded as innovative
- 28. market, the group of customers to whom a business intends to sell its products
- 31. methods used by a business to inform, persuade and remind customers about its products
- 32. process whereby a company has become a separate legal entity from its owners / shareholders
- 33. involves buying the rights from another business to distribute its products under its name
- 34. research, collecting and analysing information about customers and the business opportunities available
Down
- 1. company, an incorporated business with between 2 and 50 private shareholders
- 3. the ability to be resourceful and decide, in an independant way, what to do and when to do it
- 5. the ability to cope with the ups and downs, adapt well to change and bounce back from challenges
- 8. loan, where the borrower does not need to have an asset to offer as security, but the interest is usually higher
- 9. factors, population characteristics that affect customer spending which include, age, ethnicity, gender, marital status, family size and income
- 11. competitive advantage, this refers to the ability of a business to develop strategies that will ensure it has an 'edge' over its competitors for a long period of time
- 12. analysis, a detailed examination of strengths and weaknesses of different alternatives in order to see whether benefits outweigh the costs
- 14. liability, when a business owner is personally responsible for the debts of their business
- 17. liability, if the business cannot pay its debts, a shareholder generally loses only the money he or she invested in the business
- 18. the monetary value of a business's reputation
- 20. market, also known as a concentrated or micro market. It is a narrowly selected target market segment
- 25. refers to rivalry among businesses that try to supply the needs and wants to a society
- 29. money owing to external sources, like a bank
- 30. refers to the process companies go through to become a separate legal entity from its owners