Topic 1.

1 Enterprise and entrepreneurship

Warm-up

Activity sheet 2: Match it up

Name: ____________________________________

Some terms have special meanings in the business arena. You need to be able to understand them and use
them correctly.
Look at the terms and definitions in the table on the next page.
1 Draw lines to match any terms you already know with their definitions. One has been done for you.
2 Research the terms you don’t know, then draw lines to match each with its correct definition.

Branding An activity, product or service that is between the

starting point and completion
Early adopter A wealthy individual who invests in an enterprise,
normally in return for a share of the business
Lean Small amounts of money given by a large number of
individuals
Mission statement Creating more value
Pipeline To move deeper into high-level information as part of
the research process
Market fit A person whose authority and knowledge give them the
power to shape the spending decisions of others
Stealth start-up An enterprise that avoids public attention to hide
information from competitors or to manage its image
Silo mentality A mind-set when departments in an enterprise do not
want to share their information with others in the same
company
Crowdfunding A person who is one of the first to use new technology
and is likely to pay more for the product now rather than
get it cheaper later
Angel Being in the right market with a product or service that
can satisfy consumers in the market
Drill down The simplest or easiest project to do first for a quick and
certain result
Influencer A summary of the aims and values of a business. It
defines what a business is, why it exists and its reason
for trading
Low-hanging fruit Interacting with others to develop professional contacts
and exchange information
Networking Creating a unique name and image for a product or
service that differentiates it from competitors

1
 Theme 1: Investigating small business

Traction A business model where there is no charge for basic

services but additional services need to be paid for
Freemium Evidence that there is market demand for a business
idea

Challenge
Why might a silo mentality be harmful for a growing business?