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Business Definitions

Business Management Definitions

TermDefinition
Assets items of value that are owned by the business
Competitor a business rival in
the same market
for products or services offered by an organisation
For profit organisation an organisation that is concerned about achieving success through profit maximization, growth, and increases in market share
Gross Domestic Product The total value of goods produced and services provided in a country during one year.
Not for Profit Organisation an organisation that does not earn profit for its owners, and are concerned about providing services to the community.
Organisation Two or more people who work together in a structured way to achieve a specific objective
Revenure what a business earns in the way of sales or fees
Profit a financial gain Profit = Revenue - Expenses
Partnership a business owned and run by two or more partners
Expense a thing on which one is required to spend money on
Created by: emmamyers