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BE 301
| Term | Definition |
|---|---|
| Angel investor | someone who providdess startup money to a new business |
| Asset | anything of value that a business or individual owns |
| Bond | a peice of paper (whether rel 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 service |
| Credit | the arrangement by which businesses and individuals can purchase now and pay later |
| Credit rating | the score assigned to a borrower based on previos loans |
| Database | a virtual storage unit for information |
| Debt | money business or individuals owe to others |
| Equity | assets minus liabilities; also known as stockholders' (shareholders) equity,book value, and net worth |
| Executives | top-level employees |
| Expenses | the money that a business spends |
| Financial analysis | the process of planinf, maintaining, monitoring, controlling, and repsoting the use of financial resources |
| Financial records | documents containing information related to the amount of money going into and out of a business |
| For-profit business | a business whose ovrall purpose is to earn a profit |
| Goal | an objective or want that you plan to fulfill |
| Human resources | people who work to produce goodss and services |
| Human resource management | the process of planning, staffing, leading, and organizing the employees of thee business |
| Income | The money received by resource owners and by producers for supplying goods and services to consumers |
| Information management | the process of accessing, processing, maintaining, evaluting, 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 controlllinng the number of finshed 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 busiess or an individual for a specific time period that is repayable with interest |
| Manager | individual whose job involves planning, organizing, staffing, directing, and conrolling 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 on organization |
| Mission | a brief summary of what a business owner wants a business to be dong |
| Nonprofit business | business or organization whose intent is to make enough money to suppost its mission |
| Offshoring | producing goods in foregn countries |
| Operatation | the day-to-day activities required for continued business functioning |
| Orientation | job perparation or induction training in which new employees are acquainted with their surroundings, receive general information about the company and its policies, and are given specific information |
| Outsourcing | acquiring assistance from outside organization/ 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 gong to accomplish business goals |
| Quality control |
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