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a commercial or industrial enterprise and the people who constitute it


the creation of value or wealth by producing goods and services


the commercial activity of providing funds and capital


offering goods and services for sale


the ability and desire to purchase goods and services


the organized action of making of goods and services for sale


work done for others


The degree to which the organization achieves a stated goal


skillfulness in avoiding wasted time and effort

Total Quality Management

a style of management based on customer satisfaction


the quantity of goods and services produced from each unit of labor input


A decrease in the number of employees


someone who organizes a business venture and assumes the risk for it

Small Business

an independent business with fewer than 500 employees


an authorization to sell a company's goods or services in a particular place


moral principles or values


any persons or groups who will be affected by an action


goods brought into a country


Goods and Services sold to other countries

Business Plan

a document that describes a new business

Sole Proprietorship

business owned by one person


People who lend money


a contract between two or more persons who agree to pool talent and money and share profits or losses

Limited Partnership

form of partnership where one or more partners are not active in the daily running of the business, and whose liability for the partnership's debt is restricted to the amount invested in the business


a business owned by stockholders who share in its profits but are not personally responsible for its debts


a document incorporating an institution and specifying its rights

Board of Directors

a group of persons chosen to govern the affairs of a corporation or other large institution

Non Profit Corporation

corporations that focus on providing a service rather than earning a profit but are not owned by a government entity (Red Cross)

False Advertising

Commercial messages that are untruthful.


inability to discharge all your debts as they come due


Protection giving the owner the exclusive right to reproduce or distribute copies of his or her own work.


a formally registered symbol identifying the manufacturer or distributor of a product


dividing an area into zones or sections reserved for different purposes such as residence and business and manufacturing etc

Income Tax

a tax on people's earnings

Property Tax

tax on land and property

Sales Tax

a tax on a sale of merchandise or services


something that is communicated by or to or between people or groups


information or statements of opinion about something


an obstacle to attention


the mistake of misrepresenting the facts

Nonverbal Communications

Communication between individuals based on facial experssion or bodily gesture rather than on language


the attitudes and behavior that are characteristic of a particular social group or organization

Communication Network

a structure through which information flows in a business


gossip spread by spoken communication

Self Directed Work Team

a group of people who manage themselves by identifying conducting and monitoring all activities needed to produce a product or service


a state of opposition between persons or ideas or interests

Nominal Group Technique

a decision-making method that begins and ends by having group members quietly write down and evaluate ideas to be shared with the group


a group problem-solving technique in which members sit around a let fly with ideas and possible solutions to the problem


the world of commercial activity where goods and services are bought and sold


the process of studying of something closely and critically

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