the act of starting and operating a new business in response to opportunities, assuming all the risks in hope of making a profit

any activity conducted by an individual or individuals to produce and sell goods and services that satisfy the needs of society, as well as making profit

what is left after business expenses have been deducted from money earned from revenue

an improvement of an existing technological product, system, or method of doing something.

the capacity to support a lifestyle without having to be employed or be dependent on others

the capacity to be in control of decisions that affect one's everyday actions or activities

the goods or services that customers require that are not readily available

the production and/or selling of goods and services for the purpose of making the world (or the community) a better place

a person who has responsibility for overseeing the operations of the business to ensure that it successfully achieves its goals

A set of circumstances that presents itself as an avenue to success.

A new product, system, or process that has never existed before, created by study and experimentation.

a set of activities undertaken to improve existing products, create new products and improve production processes

Are made up of customers from across the world.

what a business expects to achieve over a set period of time

describes where the business wants to be in the future (e.g. five years from now)

describes what the business does and how it will achieve its vision

the classification of groups of businesses related to the particular good or service they produce

a positive or negative percentage that relates the money gained or lost on an investment to the cost of that investment. It is usually taken to mean that the return on the investment occurs over a 12-month period.

a measure of business efficiency comparing output produced with the quantity of inputs

using resources in such a way as to maximize the production of goods and services

a measure of whether the business is doing the right things — those that are most important to the success of the business

the ability to identify the options available and then choose a specific course of action from the alternatives

a symbol, word, or words legally registered or established by use as representing a company or product.

A right granted for any device, substance, method or process that is new inventive and useful.

free and automatic protection of original works such as writing, music, art, films, sound recording, broadcasts and computer programs

These are rights given to the owner to commercially use, licence or sell a design (the visual appearance of a product).

the business's unique address on the internet

a process of systematically collecting, recording and analysing information concerning a specific market

an assessment of the practicality of a proposed plan or method.

a system set up to determine what to produce, how to produce and to whom production will be distributed

an increase in the real value of goods and services over a set period of time

goods produced domestically and sold abroad

a record of a country's trade and financial transactions with the rest of the world

managing a business in a way that the broader social welfare of the community, including employees, customers, suppliers and the environment is taken into consideration when making business decisions. A business will go beyond its legal obligations.