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People in Business

Chapter 1

TermDefinition
entrepreneur a person who uses initiative to bring together all the resources needed to set up the business, and bears the risk of loss if it should fail
types of business commercial non- commercial
commercial business profitable
non- commercial not profit makeable e.g. trade union
stakeholders - who are they? entrepreneur(s) investors employees service providers suppliers consumers covernment
Business Its about people and organisations producing goods and services and supplying them to consumers
Profit This is earned if the business takes in more money than it has to pay out
Stakeholder These are involved in the operation of a business and have an intrest in the business
Investor Provide finance to start up and develop a business.
Employer Person who owns the company and employ people to work for them and pays them according to their agreed contract of employment.
Employee Works for the business for money
Manager Person who run the business
Supplier supply raw materials needed for production
Producer they turn raw materials into finished goods for the consumer
Created by: rebeccabuckley
 

 



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