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TY_Bus_People in Bus
TY_Bus_People in Business
| Term | Definition |
|---|---|
| Entrepreneur | A person who spots an opportunity (a gap in the market) and takes the initiative to set up a business to make money from that opportunity. |
| Investor | A person who gives the money (capital) to finance setting up a business in exchange for a return on the investment. |
| Employer | A person who hires others to work for them, in return for payment. |
| Employee | A person who works for an employer in return for payment. |
| Manager | A person who's job is to run the business and make sure that it achieves its objectives. |
| Producer | A person that makes finished products to sell to consumers. |
| Consumer | A person who buys goods or services for their own personal use. |
| Service Provider | A business that offers a range of valuable supports to an entrepreneur. |
| Interest Groups in Business | An organisation of people who come together and campaign for a common goal. |
| Co-operative Relationship | This means that the parties in business have the same objective and so they work together to achieve their goals. |
| Competitive Relationship | This means that one party in business wants to be more successful than another. Only one of them can win so they fight against each other and become rivals. |
| Dependent Relationship | This means that the parties in business need each other in order to be successful. They rely on each other to achieve success. |
| Dynamic Relationship | This means that the relationship between stakeholders in business is constantly changing. Sometimes it is competitive and sometimes co-operative. |
Created by:
tshannon
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