Key Terms Topic 1.2 4.0 / 5 based on 1 rating ? Business StudiesGCSEEdexcel Created by: Eve LeuzingerCreated on: 24-04-13 19:15 Entrepeneur A person who owns and runs their own business and takes risks 1 of 26 Enterprises Another word for businesses 2 of 26 Enterprise A willingness by an individual or a business to takes risks, show iniative and undertake new ventures 3 of 26 Risk The chance of damage or loss occuring as a result of making a decision 4 of 26 Creative Thinking Coming up with new and unique ideas 5 of 26 Competitive advantage An advantage a business has that enables it to perform better than its rivals in the market and which is both distinctive and defensible 6 of 26 Delibrate Creativity The intentional creation of new ideas through recognise and accepted techniques 7 of 26 Lateral Thinking Thinking differently to try and find new and unexpected ideas 8 of 26 Blue Skies Thinking A technique of creative thinking where participants are encouragaged to think of as many ideas as possible about an issue or a problem 9 of 26 Six thinking Hats The next six cards have the descriptons of the six thining hats 10 of 26 White Hat Thinks about the facts 11 of 26 Red Hat Thinks about emotions and gut feelings 12 of 26 Black Hat Thinks about the problems and difficulties of an idea 13 of 26 Yellow Hat Thinks about the positive aspects 14 of 26 Green Hat Thinking creatively, about lateral thinking if there's a problem how do we fix it? 15 of 26 Blue Hat Leads the group, organises the thinking process 16 of 26 Invention The discovery of new processes and potential new products, typically after a period of research 17 of 26 Innovation The process of transforming inventions into products that can be sold to customers 18 of 26 Patent Right of ownership of an invention or process when it is registered with the government 19 of 26 Copyright Legal ownership of matieral such as books, films and music which prevent these from being copied 20 of 26 Trademarks The symbol, sign or other features of a product or business that can be protected in law 21 of 26 Calculated Risk The probability of a negative event occuring 22 of 26 Downsides The disadvantages of a course of action, including what can go wrong 23 of 26 Upsides The advantages of a course of action, including what can go right 24 of 26 Driven In business, being very motivated 25 of 26 Mindmap A diagram that is used to record words and ideas connected to a central word or idea 26 of 26
OCR GCSE Sociology Start, Methodology, Education, Family and Crime & Deviance 5.0 / 5 based on 1 rating Teacher recommended
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