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1.2 - Showing enterprise


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Entrepreneur
A person who owns and runs their own business and takes risks.
Enterprises
Another word for businesses.
Enterprise
A willingness by an individual or a business to take risks, show initiative and undertake new ventures.
Risk
The chance or damage or loss occurring as a result of making a decision.
Goods
Physical, tangible products like a car, a pair of scissors or a television set.
Services
Non-physical, intangible products like a taxi journey, a haircut or a television programme.
Thinking creatively (or creative thinking)
Coming up with new and unique ideas.
Deliberate creativity
The intentional creation of new ideas through recognised and accepted techniques.
Lateral thinking
Thinking differently to try and find new and unexpected ideas.
Blue skies thinking
A technique of creative thinking where participants are encouraged to think or as many ideas as possible about an issue or a problem.
Invention
The discovery or new processes and potential new products, typically after a period of research.
Innovation
The process of transforming inventions into products that can be sold to customers.
Patent
Right or ownership of an invention or process when it is registered with the government.
Copyright
Legal ownership of material such as books, music and films which prevents these being copied by others.
Trademarks
The symbol, sign, or other features of a product or business that can be protected in law.
Calculated risk
The probability of a negative event occurring.
Downsides
The disadvantages of a course of action, including what can go wrong.
Upsides
The advantages of a course of action, including what can go right.
Driven
In business, being very motivated.
Mindmap
Is a diagram that is used to record words and ideas and connected to a central word or idea.