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Buisness

LC

TermDefinition
Internal Steakholder Directly involved in running a business
External steakholder Not directly involved in running a business, but affected by the decisions
Conflict Needs/Wants of steak holders compete with each other. Win - loose
Consumer People who buy or use goods and services for personal use
Interest/ Pressure groups Organisations that represents people with a common interest
Contract Legally binding agreement between two or more parties
Public sector Part of the economy that is owned, operated and controlled by the government
Private sector Part of the economy that is owned, operated and controlled by private individuals or businesses
Limited liability Owners are not personally responsible for the businesses debts
Unlimited liability Owners are personally responsible for the business debts
Sole Traded A business run and owned by one person
Partnership A business owned by 2-20 people who share profits and responsibility
Co-operative A business owned and controlled by its members for mutual benefit
FDI Foreign direct investment
MNCs Multinational company’s
Outline Give main points
Demonstrate Prove or make clear by reasonings, or evidence, with examples
Finance The ability to raise capital, attract investors, and obtain loans
Control The degree of control that the owner maintains over business decisions
Employee Works in the business in return for wages
Created by: Claraorr1509
 

 



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