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Business

Unit 1 Unit 2

TermDefinition
Stakeholders The people who play a part in the business and are affected by its stakeholders Eg:Investors
Risk Taken by entrepreneur when they try to find a gap in the market to set up a business
Entrepreneur Someone who uses initiative to bring together all the resources needed to set up a business Eg:Cully&Sully
Producer Turns raw materials into finished product Eg:Glanbia turns Milk-Yoghurt
Supplier Provide raw materials needed for producers, compete for contracts and offer inducements eg:Discounts
Service Provider People who provide support services to the public Eg:Vodafone
Employer A person who hires workers in return for wage. They have responsibilities as an employer Eg:Fair Wages
Employee Hired to do work needed to produce and sell goods. They have rights as an employee, such as a safe and healthy workplace.
Created by: JordanDoyle08
 

 



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