1. Comp 4.00 Entreprenuership/Enterprise
An entrepreneur is a person who creates, manages and owns his own business

2. Skills needed by an entrepreneur include-
communication and math skills, concern for personal appearance and technology skills

3. include being innovative, creative and self-reliant
.. Personal traits.  
include being innovative, creative and self-reliant

4. School-based Enterprise
There should be a “demand” for a product before offering or developing the product or service
The school-based enterprise should set a goal to have a product or service that is inexpensive and easy to do.

5. Primary Considerations of SBE for Foods II Project
Time available to produce a product
Meeting local health department requirement
Consultation with the principal for approval

6. Feasibility Analysis
is the investigating of various types of businesses in an area prior to opening a new business.
determines if the product or business idea is practical. .

7. should be done to find out about the competition in the market.
Feasibility Study
should be done to find out about the competition in the market.

8. A policy is a general statement of intent
Business concept is a new business idea that is tested before starting the business.
A policy is a general statement of intent

9. A market analysis is a documented investigation of a market that is used to inform a firm's planning activities: inventory, workforce, facility expansion, purchases of capital equipment, promotional activities, and many other aspects.
It assists in making sales projections or forecasting amounts to be sold

10. A niche is a small segment of the market whose needs are being met by the product or service
Target customers or target market are the people most likely to buy a specific product or service.

11. A prototype is a working model or sample of the product. .
For example cupcakes

12. Automation.
is the operation or control of equipment, process, or system. It can cut production time, reduce errors and simplify procedures

13. Product standards
are guidelines for product quality and are developed to benefit the consumer

14. . Break even point.    
is the point at which the revenue will cover the expenses. The company can use this point to predict when they will begin to make a profit, for their revenue will exceed the expenses

15. Objective 4.00 Vocabulary Word List See Handout
Business Vocabulary
Objective 4.00 Vocabulary
Word List
See Handout