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BE 301
Business Essential
| 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 comporation 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 services |
| Credit | The arraangement 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 |
| Dept | Money businesses or indivduals owe to others |
| Equity | Assets minus liabillites; also know as stockholders' (or shareholders') ewuity, 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 rescords | 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 resource | People who work to produce goods and services |
| Human resources management | The process of plamming, 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 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 decription | The official satement of job duties an employee must perform must perform |
| Loan | A sum of money lent to a business or an individual for a specific time period, and controlling for a business |
| 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 bbe useful to consumers |
| Marketing | The process of creating, communicating, delivering, and exchanging offering 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 |
| Non-profit business | Business or organaization 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 contuined business functioning |
| Orientation | Job preparation ot induction training in which new employees are acquainted with their surrounding, receive general information about the compony and its policies, and are given specific information about their jobs |
| Outsourcing | Acquiring assistance from outside organizations/consultants to perform primary business activities |
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