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301 Key Term

Business Essentials

Angel Investor Someone who provides startup money to a new business
Asset Anything of value that a business or individual owns
Bond A piece of paper weather real or virtual that says a governing body or corporation will borrow an investor's money at a particular interest rate for a particular period of time.
Business An organized effort to produce and/or distribute goods and services
Credit The arrangement by which businesses and individuals can purchase now or later
Credit rating The score assigned to a borrower based on a previous loans
Data based A virtual storage unit for information
Dept Money businesses or individual owe to others
Equity Assets minus liabilities; also known as stockholders(or shareholders') equity, book value, and net worth
Executives Top-level employees
Expenses The money that business spends
Financial analysis The process of planning, maintaining, controlling, and reporting the use of financial recourses
Financial records Documents containing information maintaining, monitoring, controlling, and reporting the use out of a business
Financing Funding a business activity or project through dept
For-Profit business A business whose overall purpose is to earn a profit
Goal An objective or want that you want to fulfill
Human resources People who work to produce goods or services
Human Recourses management The process of planning, staffing, leading, and organizing the employees of the business
Income The money received by the resource owners and producers for supplying goods and services to consumers
Information management The process of accessing, maintaining, evaluating, and disseminating business knowledge , facts, or data
Interest The reward or cost of lending or borrowing money, usually figured as a percentage of the amount
Inventory management The process of supervising and controlling the number of finished products a company has in stock
Job description The official statement of job duties on employee must perform
Loan A sum of money lent to business or an individual for a specific time period that is repayable with interest
Manager An individual whose job involves planning, organizing, staffing, directing, and controlling for a business
Manufacturing Changing the shape or forms of materials so that they are useful to consumers
Marketing The process, communicating, delivering, and exchanging offerings that have value for costumers, clients, partners, and society at large
Merger Two individuals business that combine t form one organization
Mission A brief summary of what business owner wants a business to be doing
Nonprofit business A business whose intent is to make enough money to support its mission
Offshoring Producing goods in foreign countries
Operations The day-to-day activities required business functioning
Orientation Job preparation or induction training in which new employees are acquired with their surroundings, receive general information about the company and its policies, and are given specific information about their jobs
Outsourcing Acquiring assistance from outside organizations/ consultants to perform primary business activities
Overhead Business expenses for tings such as as a payroll, rent, and utilities
Production The process or activity of producing goods and services
Profit Monetary reward a business owner receives for taking the risk involved in investing in a business
Purchasing The process of acquiring the goods and services necessary to keep production going and to accomplish business goals
Quality control Ensuring the degree of excellence of a good or service
Recruiting Seeking out and attracting qualified potential employees
Resource Ant item that is used to accomplish another activity, such as producing/providing goods and services
Revenues Sales or gross income
Strategic management The process of planning, controlling, and organizing an organization or department
Strategic position How a business measures up in a relation to the other business in their industry can involve the image or impression or organization
Strategies Plans of action for achieving goals and objectives
Supervisor An employee who oversees other employees
Tactics Specific actions that will be used to carry out strategies
Technology Specific applications to a business objectives or methods used to attain those objectives
Venture Capital Invested money used for new business opportunities
Virtual services Services provided through a medium of communication ( such as the internet), rather than a person
Vision A summary of what a business owner wants to become
Created by: Pablo-
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