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Business
Unit 1 Unit 2
| Term | Definition |
|---|---|
| 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. |