CISSE Foundation Level
Entrepreneurship and Innovation glossary
Every term this guide defines, A to Z, each with the chapter that teaches it. Open it when a word in a question is unfamiliar, and test yourself on it in the last week: cover the definition and say it in one sentence.
6 terms from the free first chapter
E
- Entrepreneur
An individual who identifies an opportunity, assembles the resources needed, and takes on the risk of starting and running a new venture to exploit it.
Taught in Introduction to entrepreneurship
- Entrepreneurship
The process of identifying, evaluating and exploiting a business opportunity, combining innovation (see the chapter on innovation), risk-taking and resource organisation to create value.
Taught in Introduction to entrepreneurship
O
- Opportunity recognition
Ability to spot a gap or unmet need before others do.
Taught in Introduction to entrepreneurship
R
- Resourcefulness
Ability to achieve goals despite limited resources.
Taught in Introduction to entrepreneurship
- Risk tolerance
Willingness to commit resources to an uncertain outcome.
Taught in Introduction to entrepreneurship
S
- Self-motivation and persistence
Sustained drive through setbacks, since most ventures fail more than once before succeeding.
Taught in Introduction to entrepreneurship
The full glossary adds every term from the other 11 chapters, A to Z, each with the chapter that teaches it.