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UNIT ONE KEYWORDS

One Direction Quiz

TermDefinition
STAKEHOLDER These are the various people involved and interested in how a business is doing
ENTEAPRENEUR An entrepreneur is a person who spots a gap in the market,takes the initiative to set up a business, and takes the risk involved in setting up a business
Enterprise This involves identitying the needs in society and taking the initiative to identify these needs and turning them into opportunities
INVESTORS Provide finance to help start and develop a business in return they expect a return on their money
CONSUMERS Are people who buy goods and services and services for their own use
COMPETITIVE RELATIONSHIP Stakeholders compete with each other and have different objectives
COOPERATIVE RELATIONSHIP Stakeholders cooperate with each other and help one another for their mutual benefit and work towards common objectives.
INTEREST GROUPS Groups that wish to influence the political and decision making process of organisations such as the government
LOBBYING One of the aims of interest groups. This involves trying to influence decision makers usually through a high profile organised campaign of discussion through the media
CONFLICT Occurs when industrial relations in the business are bad
Created by: lillymcgovern
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