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SBE2

Unit 2 Terms

AB
Business EthicsApplying principles of right and wrong to situations in the workplace
Business PlanA proposal that describes a new business.
Code of EthicsA systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture.
EntrepreneurAn individual who undertakes the risk associated with creating, organizing, and owning a business.
EntrepreneurshipThe process of starting and operating one’s own business.
Ethical BehaviorKnowing the difference between right and wrong and consciously choosing to do what is right.
EthicsGuidelines for human behavior; the study of moral choices and values.
Executive SummaryA brief description of the key points of the business plan.
ManagerAn employee who coordinates people, processes, and other resources of a business.
Mission StatementA written description of the purpose of a company and the management’s philosophy.
OpportunityAn idea that has commercial value.
Small BusinessBusinesses that are generally started to create jobs for the owners.
VentureA business undertaking involving risk.



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