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Jeopardy Key Terms Growth in Canadian Business Skills and Characteristics Invention vs. Innovation...
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Transcript of Jeopardy Key Terms Growth in Canadian Business Skills and Characteristics Invention vs. Innovation...
JeopardyKey Terms
Growth in Canadian Business
Skills and Characteristics
Invention vs. Innovation Entrepreneurs
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Final Jeopardy
$100 Question from Key Terms
What is an entrepreneur?
$100 Answer from Key Terms
A person who takes risks and organizesresources in order to satisfy needs.
$200 Question from Key Terms
What is the difference between wantsand needs?
$200 Answer from Key Terms
Needs: Essential for human survival
Wants: Human desires that go beyond basic needs and are not essential for survival
$300 Question from Key Terms
What is E-Business?
$300 Answer from Key Terms
Conducting business practices through Internet technologies
$400 Question from Key Terms
What does demographic mean?
$400 Answer from Key Terms
The study of the characteristics of people in a population
$500 Question from Key Terms
What is a market niche?
$500 Answer from Key Terms
A specific segment of a market
$100 Question from Growth in Canadian Business
How has a change in technology help businesses grow?
$100 Answer from Growth in Canadian Business
1) Change the way businesses produce,buy, and sell goods
OR
2) Change the way we communicatewith one another
$200 Question from Growth in Canadian Business
What is globalization?
$200 Answer from Growth in Canadian Business
The increasing trend of doing businessInternationally
$300 Question from Growth in Canadian Business
What is the term used to describe a business’ desire to do what’s best for society and the environment?
$300 Answer from Growth in Canadian Business
Social Responsibility
$400 Question from Growth in Canadian Business
What is a main reason for the growthin small businesses?
$400 Answer from Growth in Canadian Business
People starting more home businesses
$500 Question from Growth in Canadian Business
What is contract labour?
$500 Answer from Growth in Canadian Business
Hiring experts to help with certainfacets of a business’ task
$100 Question from Skills and Characteristics
Why does an entrepreneur need to be motivated?
$100 Answer from Skills and Characteristics
They are driven by an internal need for accomplishment.They will actively seek opportunities for success.
$200 Question from Skills and Characteristics
Why do entrepreneurs need to be optimistic?
$200 Answer from Skills and Characteristics
They need to have a positive mental attitude.Minor setbacks or roadblocks do notdiscourage them.
$300 Question from Skills and Characteristics
Why is communication an important entrepreneurial skill to have?
$300 Answer from Skills and Characteristics
Entrepreneurs need to be able to listen, speak,and write well
$400 Question from Skills and Characteristics
Why is being flexible important forentrepreneurs?
$400 Answer from Skills and Characteristics
They need to be able to adjust to the changingmarketplace and changing technology. They willtry need ideas if their first one doesn’t work.
$500 Question from Skills and Characteristics
What makes an entrepreneur unique?
$500 Answer from Skills and Characteristics
No two entrepreneurs are alike. Theircharacteristics and skills differentiate themselvesfrom one another.
$100 Question from Invention vs. Innovation
What is an invention?
$100 Answer from Invention vs. Innovation
The generation of new ideas,technologies, or goods andservices
$200 Question from Invention vs. Innovation
What is innovation?
$200 Answer from Invention vs. Innovation
The application of new ideas, technologies,or materials to existing goods and services
$300 Question from Invention vs. Innovation
What is the difference between a franchiser and a franchisee?
$300 Answer from Invention vs. Innovation
Franchiser: The parent company who grants the franchise and provides goods and/orservices to the franchisee.
Franchisee: A person who runs a franchiseoperation and is under a contract or licensingagreement, with the franchiser
$400 Question from Invention vs. Innovation
What is intrapreneurship?
$400 Answer from Invention vs. Innovation
Entrepreneurship that occurs within anexisting organization or corporation
$500 Question from Invention vs. Innovation
What are the three ways to protect your idea?
$500 Answer from Invention vs. Innovation
1) Patent2) Trademark3) Copyright
$100 Question from Entrepreneurs
What is an enterprising person?
$100 Answer from Entrepreneurs
People who demonstrate many ofthe characteristics of an entrepreneur.
$200 Question from Entrepreneurs
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$200 Answer from Entrepreneurs
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$300 Question from Entrepreneurs
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$400 Question from Entrepreneurs
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$500 Question from Entrepreneurs
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$500 Answer from Entrepreneurs
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Final Jeopardy
What are two advantages and two disadvantages to owning a franchise?
Final Jeopardy AnswerAdvantage:1)Each uses the same standardized product or service2)Pay less for material (advertising) and technological resources3) Greater chance for success4) Brand recognition
Disadvantage:1)High cost to buy2)No room for creativity – follow exact plan3)Continuing royalty payments4)Limited opportunity for growth