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Terms in this set (21)
business that is transacted by transferring data electronically, especially over the Internet.
The up and coming flower business mostly uses E-Commerce to make their sales.
to deal with or initiate as an entrepreneur.
My friend from business class said that he doesn't want to go into accounting but instead wants to go into Entrepreneurship.
the aggregate of manufacturing or technically productive enterprises in a particular field, often named after its principal product
The paper industry blew up after there was a shortage of usable computer paper in RI.
the planning, implementation, and coordination of the details of a business or other operation
Companies typically use logistics to calculate expenses for the quarter.
a person or firm that arranges to pick up or deliver goods on instructions of a shipper or a consignee from or to a point by various necessary conveyances and common carriers
The paper company uses Freight Forwarders to deliver their reams to their specialty costumers.
to ship (commodities) to other countries or places for sale, exchange, etc
Major exports from England include oil and metals that are usually found there.
to bring in (merchandise, commodities, workers, etc.) from a foreign country for use, sale, processing, reexport, or services
Fuel and oil are among the major imports to the US due to the lack of it in our land.
Product Life Cycle
(marketing) the four stages (introduction, growth, maturity, and decline) into one of which the sales of a product fall during its market life
The starting company was in the first stage of the Product Life Cycle, the introduction stage.
(marketing) a channel of distribution beginning with the supplier of materials or components, extending through a manufacturing process to the distributor and retailer, and ultimately to the consumer
Many food distribution companies use Supply Chains to keep their shelves stocked.
an act or instance of packing or forming packages
The packaging team at the paper company insure that all of the reams of paper are full and ready to be delivered.
Brick and Mortar
pertaining to conventional stores, businesses, etc., having physical buildings and facilities, as opposed to Internet or remote services
The Brick and Mortar store is appealing to customers because they can see and feel what they are buying.
an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members
Big corporations usually swallow up small mom and pop shops because of their enormous size.
an act or instance of distributing
The distribution team makes sure the paper is delivered on time and is up to the satisfaction of the customer.
to ask for with proper authority; claim as a right
The companies supply could not meet the demand so eventually they had to shut down.
when price or other factors have a big effect on the quantity consumers want to buy
When there was an oil drought the Elastic Demand skyrocketed and prices were higher than ever.
when people buy about the same amount whether the price drops or rises
The paper company is used to Inelastic Demand because the environment does not usually have an effect on their sales.
the money or other benefits lost when pursuing a particular course of action instead of a mutually-exclusive alternative
The opportunity costs were higher than ever this quarter because the business decided not to go paperless.
the rivalry offered by a competitor
Competition beat the company when other stores offered the same product for a cheaper price.
the investing of money or capital in order to gain profitable returns, as interest, income, or appreciation in value
People who like your company and believe in your sales will often give you an investment to help your company grow.
the wealth, whether in money or property, owned or employed in business by an individual, firm, corporation, etc.
The capital for the flower company was massive not because of their sales but because of the number of locations they own.
a person whose behavior, example, or success is or can be emulated by others, especially by younger people
A Role Model to me is George Clooney because his company sold for billions and I aspire to do the same.
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