Glossary | AGM101 | Allan Gray Makers

Block 1
Term	Definition
Assumptions	The things that we believe to be true based on our everyday lived experience without any real evidence
Audit	Identifying all the assets that you have and documenting this
Biases	The beliefs and ideas that we have about people or things that can either be positive or negative and which reflect our opinions or outlook on life
Empathy	The ability to see a situation from another person’s point of view.
Empathy Map	A tool used to better understand yourself and potential customers by asking leading questions about their personal experiences
Entrepreneurship	To come up with a solution to a problem and action it
Ethical dilemma	A situation where there is no clear right or wrong choice and any decision that is taken could go against a moral standard
Ethics	The external standards of society that determine if behaviour is right or wrong
Fixed mindset	The belief that your intelligence and abilities do not change from when you are born
Goals	Things you want to achieve in the future
Growth mindset	The belief that your intelligence and abilities can change from when you are born depending on the amount of effort you apply
Leverage	To use to the maximum advantage
Morals	A person’s internal values and belief system which informs what they believe to be right or wrong
Opportunities	External factors you can use to help you achieve your goals
Personal asset audit	A summary of all the assets that you have available to you right now.
Personal brand	How you present the value you add to others
Personal network	All the relationships in your life with people who either have similar interests with you or who are connected to you in some way
Personal SWOT analysis	A summary of your strengths and weaknesses that you can control, and of opportunities and threats that you can influence
Personal value proposition	How a person adds value to others based on their skills or experience
Resource	Something that is useful and adds value
Resourceful	To make the most of the resources available to you
Responsible entrepreneurship	The creation of value through innovative and efficient business processes that benefits employees, customers, stakeholders and general society, and does not take away from the well-being of any of these groups and the environment
Strengths	Internal qualities or skills that you are good at that set you apart from others
Sustainable business	A business that focuses on the profit it makes, the people it affects and its impact on the planet
Threats	External factors that make it difficult for you to achieve your goals
Values	Qualities and behaviours that you believe are most important in your life
Vision statement	An explanation of where you see yourself in the future and how you will get there
Weaknesses	Internal qualities or skills that you struggle with and need improvement