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TY_Bus_People in Bus

TY_Bus_People in Business

TermDefinition
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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