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OBJ 3.01
BE
| 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 for a particular period of time |
| Business | An organized effort to produce and/or distribute goods or service s |
| Credit | The arrangement by which businesses and individuals can purchase now or 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 stock holders '(OR share holds') 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 the employees of the business |
| income | the money received by resource owners and by producers for supplying goods and services to consumers |
| information managment | 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 | 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 an d 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 | 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 induction training in which new employees are acquainted with their surroundings , receive general information about the company and its polices , and are given specific information about their jobs |
| outsourcing | acquiring assistance from outside organizations/consultants to perform primary business activities |
| over head | 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 | ensuring the degree of excellence of a good or service |
| recruiting | seeking out and 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 relation to other businesses in the industry can involve the image or impression of a business or organization |
| strategies | plans or action for achieving goals and objectives |
| supervision | an employee who oversees other employees |
| tactics | specific actions that will be used to carry out strategies |
| technology | scientific applications 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 |
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