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Business Key Words

Key words and defenitions of all leaving certificate business studies chapters

TermDefinitionExamples
Entrepreneurs A person who spots a gap in the market and has the initiative to set up a business and takes the risk involved in setting up a business Eg Tony Ryan
Enterprise Start up phase of a business and describes the actions of an entrepreneur taking a risk and taking the initiative to set up a business
Investors Financially backs an entrepreneur and expects money back at promised rate
Consumers Buy goods and services provided by an entrepreneur
Competitive relationship When two stake holders are pursuing different objective at the others expence it is a win loose situation Eg can occur between an employer and an employee
Co-operative Relationship When two stakeholders work together to pursue the same objective it is a win win situation Eg can occur between an entrepreneur and investor
Stakeholder Are any person involved in the running of a business
Created by: JpHolmes
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