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301 Key Term
Business Activities
| Term | Definition |
|---|---|
| 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 (whether real or virtual) that says a governing body or corporation will borrow an investors money at a particular interest rate |
| business | an organized effort to produce and/or distribute goods and services |
| credit | the arrangement by which businesses and individuals can purchase now and pay later |
| credit rating | the score assigned to a borrower based on previous loans |
| database | a virtual storage unit for information |
| debt | money businesses or individuals 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 a business spends |
| financial analysis | the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources |
| financial records | documents containing information related to the amount of money going into and out of a business |
| financing | funding a business activity or project through debt, equity, or venture capital |
| for-profit business | a business whose overall purpose is to earn a profit |
| goal | an objective or want that you plan to fulfill |
| human resources | people who work to produce goods and services |
| human resources management | the process of planning, staffing, leading, and organizing he employees of the business |
| income | the money received by resource owners and producers for supplying goods and services to consumers |
| information management | the process of accessing. processing. 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 an employee must perform |
| loan | a sum of money lent to a 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 shapes or forms of materials so that they will be useful to consumers |
| marketing | the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large |
| merger | two individual businesses that combine to form one organization |
| mission | a brief summary of what a business owner wants a business to be doing |
| nonprofit business | a business or organization whose intent is to make enough money to support its mission |
| offshoring | producing goods in foreign countries |
| operations | the day-to-day activities required for continued business functioning |
| orientation | job preparation or introduction training in which new employees are acquainted with their surrounding, receive general information bout their jobs |
| outsourcing | acquiring assistance from outside organizations/ consultants to perform primary business activities |
| overhead | business expenses for things such as 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 | ensuing the degree of excellence of a good or service |
| recruiting | seeking out an attracting qualified potential employees |
| resource | any 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 other businesses in the industry; can involve the image of impression of a business 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 | scientific application to business objectives or the 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 in person |
| vision | a summary of what a business owner wants a business to become |
Created by:
yeraldin.c613
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