10 Questions
refers to the economic activity of a person who starts, manages, and assumes the risk of a business enterprise
Entrepreneurship
which refers to the discovery or devising of new products and processes
Invention
which refers to the process by which the ideas and principles generated from the stage of invention are embodied in concrete products and techniques
Development
this refers to the actual introduction of a new product or process
Innovation
is a formal document indicating the entrepreneurship’s adapted principles of appropriate behavior.
Code of Ethics
a theory of management which studies the application of scientific methods and principles for the purpose of redesigning the work process to increase efficiency.
SCIENTIFIC MANAGEMENT THEORY
an American engineer, was the first to advocate scientific management.
Frederick W. Taylor,
Taylor is called the
father of Scientific Management
believed in regulation and consistency in the workplace. Rather than encouraging a company of many working parts, they valued efficiency above all else.
Frank and Lillian Gilbreth
focuses on the overall management of an organization, emphasizing the role of managers as administrators of the organization.
ADMINISTRATIVE MANAGEMENT THEORY
Test your knowledge on the definitions related to the economic activity of a person who starts, manages, and assumes the risk of a business enterprise.
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