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Business

People in Business

TermDefinition
Business An organisation that buys and sells goods and services
Commercial Business Provides goods and services with the aim to make a profit
Non-commercial Business Puts people and community first ahead of profit
Entrepreneur A person who spots a gap in the market and comes up with an idea they can turn into a business
Investor People or organisations that provide the entrepreneur with capital
Employer Recruits staff in order to run the business
Employee Works in a business in return for a wage/salary
Producer Takes raw materials and transforms them durning the manufacturing process into finished products
Consumer People who buy goods and services for their personal use
Manager Responsible for the day-to-day running of the business
Supplier Provides raw materials to the business for business to fulfil its orders
Service Provider Provides services needed by business to operate successfully
Government Body of people who govern the country
Local community Consists of individuals, households and organisations
Co-operative Relationships Stakeholders work together towards a common goal win-win scenario
Competitive Relationship Stakeholders work towards different goals win-lose scenario
Dependent Relationship Stakeholders need each other for success, one skate holder is not able to achieve their goal without the other
Dynamic Relationship Stakeholders relationship is constantly changing, at times relationship can be co-operative or dependent at other times it is competitive
Created by: Sophieholmes
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