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BE 301
Business Essentials
| 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 corpooration will borrow an investor's money at a particular intrest rate for a particular period of time |
| Business | An organized effort to produce and/or distribute goods and services |
| Credit | The arrangment 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 businesss or indiviuas owe to others |
| Equity | Assets minus liabilities; also known as stockhollders' (or shareholders) equity, book value, and net worth. |
| Executives | Top-level employees |
| Expenses | the money that a business spends |
| Finanical analysis | The process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources. |
| Finanical 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 services and goods. |
| Human resource management | the process of planning, staffing, leading, and organizing the employees of the business |
| income | The money rceived 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 managment | 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 indiviual for a specific time period that is repayable with interest. |
| Manager | Individual whose job involves plainning, 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, communitcating, delivering, and exchanging offerings that have valuse for customers, client, partners, and society at large |
| merger | Two indiviuals businesses that combine to form one organization |
| Mission | A brief summary of what a business owner wants a business to be doing |
| Non-profit business | Business or organization whose intent is to make enough money to support its mission. |
| Offshoring | producing goods in foregion countries |
| Operations | The day to day activities requireed for continued business functioning |
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