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Beck Mgmt. Chp.1

QuestionAnswer
businesses that produce goods used by other businesses or organizations to make things industrial users
organization that produces or distributes a good or service for profit business
producing products/services quickly, at low cost, without wasting time and materials efficiency
something entirely new innovation
businesses that use mostly labor to offer mostly intangible products to satisfy consumer needs service business
activity that involves making a product or providing a service production
ability of businesses from one country to compete with similar businesses in other countries global competition
parent company of a franchise agreement that provides the product or service franchisor
quantity produced within a given time output
all businesses within a category doing similar work industry
total market value of all goods and services produced in a country in a year gross domestic product
products made by firms in other countries foreign goods
someone who starts, manages, and owns a business entrepreneur
to reduce the amount and variety of goods/services produced and the number of employees needed to produce them downsizing
Created by: hbeck1973
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