bus1e vobIII

Created by jacklati427563 

Upgrade to
remove ads

35 terms

Bankruptcy

The legal process by which an individual or business unable to meet financial obligations can seek court protection under these laws and can be relieved of those debts by a court

Business

Is a person, partnership, or corporation that seeks to provide goods and services to others at a profit

Goods

Tangible products, such as cameras, food, computers, clothing, an cars

Services

Intangible products such as education, insurance, and travel

Entrepreneur

A person who risks time and money to start and manage business

Return on Investment (ROI)

The money gained from taking on a business risk

Revenue

The total amount of money a business takes in during a given period as a result of selling its goods or service

Expenses

The costs of purchasing the goods and service that are needed to operate a business

Profit

The amount of money a business earns above and beyond what is spends for goods, services, salaries, and other expenses

Loss

When a business's expenses are more than its revenues

Risk

The chance an individual or organization takes of losing time and money on a business that may not prove profitabe

Outsourcing

Assigning various function, such as accounting, production, security, maintenance, and legal work, to outside organizations

Small and medium-sized enterpises

Small enterprises employ 50 or fewer people and are managed by their owners on a day-to-day basis, and medium-sized enterprises have 51 to 500 employees

For-profit organizations

Organizations that are motivated to earn profits

Nonprofit orgaizations

Organizations that are not driven to garner profit

Stakeholders

Any people or organizations who stand to gain or lose from the activities of a business

Contract

A legally enforceable agreement between two or more parties

Database

An electronic storage file for information

Tradeable Currency

One country's money that is allowed to be exchanged for another country's money

Capitalist system

A system in which cmpanies and businesses are are owned by citizens instead of the government

Effectiveness

Producing the desired results

Efficieny

Producing goods using the least amount of resources

Resource

An input used to produce a good

Productivity

The amount of output generated given a particular amount of an input

E-commerce

The buying and selling of goods over the internet

Business-to-consumer

A business that produces products to sell directly to the consumer

Busines-to-busniess

A business that produces products to sell to another business

Value

Good quality at a fair price

Empowerment

Giving frontline workers the responsibility, authority, and freedom to respond quickly to customer requests

Diversity

Board differences among a group of people, including their ethnicity, sex, color, sexual orientation, body size, age and so on

Demographics

Statistics about the human population with regard to its size, density, and other characteristics

Free Trade

The movement of goods and services among nations without political or economics barriers

Globalization

The worldwide integration of government policies, cultures, social movement, and finanical markets through trade and exchange of ideas

Factor of production

The resources used to create wealth: land, labor, capital, entrepreneurship,and knowledge

Standard of living

The amount of goods and services people can buy with the money they have

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

NEW! Voice Recording

Click the mic to start.

Create Set