Business And Entrepreneurship: College And Career Readiness Terms Explained
Plain-language definitions of every business and entrepreneurship term your child meets in school, each with kid-friendly explanations, worked examples, and common mistakes to watch for.
Business plan
A business plan is a written guide that explains what a business will do, how it will make money, who its customers are, and how it will be run.
Customer
A customer is a person or organization that buys or uses a product or service from a business, and whose needs the business tries to understand and satisfy.
Design thinking
Design thinking is a problem-solving process that starts with understanding people’s needs, then uses creativity, testing, and feedback to design better products, services, or solutions.
Entrepreneurship
Entrepreneurship is the process of spotting a problem or opportunity, creating a new product, service, or solution, and taking the risk to build it into something that can earn money or create value for others.
Return on investment
Return on investment is a way to measure how much profit or benefit you get compared to how much money you put into something, usually shown as a percentage.
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