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Capter 1
people in buisness
| Question | Answer |
|---|---|
| Buisness | Is about people and organisations producing goods and services and supplying them to consumers |
| Stakeholders | Are people who play a part in the operation of the business and are affected by its decissions. |
| Entrepreneurs | A person who is inivative to bring all the resources needed to set up a business , and bears the of loss if it fails |
| Investors | entrepreneurs convince investors to finance them on the venture if they dont have enough money. |
| Owners capital | provided by individual people or by organisations like venture capital companies. |
| Loan capital | Provided mainly by banks. This money has to be repaid within a certain time , with interest. |
| Grants | A grant is money given, usually by an agency of government which does not have to be repaid as long as certain conditions are fulfilled |
| Suppliers | Buisnesses needs materials, suppliers deliver materials or goods at the right time. |
| Service providers | Businesses need services like electricity, telephone, waste disposal, banking, advertising, cleaning, transport and others to run the buisness. |
| Employees | Business employ people to do the work needed to produce or to sell the goods or services. In return employees recieve wages and other benifits |
| Employers | The business itself is the mployer. It hires employees, directs them to do work and pays the according to their agreed contract of employment. |
| Consumer | Buys goods or uses services for their own use. |
| The Government |
Created by:
RobynMcIntyre2
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