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301 Key Term

Business Activities

TermDefinition
angel investor someone who provides startup money to a new business
asset anything of value that a business or individual owns
bond a piece of paper (whether real or virtual) that says a governing body or corporation will borrow an investors money at a particular interest rate
business an organized effort to produce and/or distribute goods and services
credit the arrangement by which businesses and individuals can purchase now and pay later
credit rating the score assigned to a borrower based on previous loans
database a virtual storage unit for information
debt money businesses or individuals owe to others
equity assets minus liabilities; also known as stockholders (or shareholders) equity, book value, and net worth
executives top-level employees
expenses the money that a business spends
financial analysis the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources
financial records documents containing information related to the amount of money going into and out of a business
financing funding a business activity or project through debt, equity, or venture capital
for-profit business a business whose overall purpose is to earn a profit
goal an objective or want that you plan to fulfill
human resources people who work to produce goods and services
human resources management the process of planning, staffing, leading, and organizing he employees of the business
income the money received by resource owners and producers for supplying goods and services to consumers
information management the process of accessing. processing. maintaining, evaluating, and disseminating business knowledge, facts or data
interest the reward or cost of lending or borrowing money, usually figured as a percentage of the amount
inventory management the process of supervising and controlling the number of finished products a company has in stock
job description the official statement of job duties an employee must perform
loan a sum of money lent to a business or an individual for a specific time period that is repayable with interest
manager an individual whose job involves planning, organizing, staffing, directing and controlling for a business
manufacturing changing the shapes or forms of materials so that they will be useful to consumers
marketing the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
merger two individual businesses that combine to form one organization
mission a brief summary of what a business owner wants a business to be doing
nonprofit business a business or organization whose intent is to make enough money to support its mission
offshoring producing goods in foreign countries
operations the day-to-day activities required for continued business functioning
orientation job preparation or introduction training in which new employees are acquainted with their surrounding, receive general information bout their jobs
outsourcing acquiring assistance from outside organizations/ consultants to perform primary business activities
overhead business expenses for things such as payroll, rent, and utilities
production the process or activity of producing goods and services
profit monetary reward a business owner receives for taking the risk involved in investing in a business
purchasing the process of acquiring the goods and services necessary to keep production going and to accomplish business goals
quality control ensuing the degree of excellence of a good or service
recruiting seeking out an attracting qualified potential employees
resource any item that is used to accomplish another activity, such as producing/ providing goods and services
revenues sales or gross income
strategic management the process of planning, controlling, and organizing an organization or department
strategic position how a business measures up in a relation to other businesses in the industry; can involve the image of impression of a business or organization
strategies plans of action for achieving goals and objectives
supervisor an employee who oversees other employees
tactics specific actions that will be used to carry out strategies
technology scientific application to business objectives or the methods used to attain those objectives
venture capital invested money used for new business opportunities
virtual services services provided through a medium of communication (such as the internet) rather than in person
vision a summary of what a business owner wants a business to become
Created by: yeraldin.c613
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