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obj. 3.01
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 real or virtual that says a governing body or corporation will borrow an investors money at a particular rate for a particular period of time |
| Business | an organized effort to produce or distribute goods and services |
| Credit | the arrangement 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 |
| Debt | Money businesses or individuals owe to others |
| Equity | Assets minus liabilities also known as stockholders |
| 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 |
| 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 resource 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 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 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 or creating communicating delivering and exchangeing offerings 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 |
| 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 their jobs |
| outsourcing | acquiring assistance from outside consultants to perform primary business activities |
| overhead | business expenses for things such as pay roll rent and utilities |
| production | the process or activity of producing goods and services |
| profit | monetary reward a business owner receives for taking the rick 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 the goal of another activity such as providing goods and services |
| revenues | sales or gross income |
| strategic management | the process of planning controlling and organizing a organization or department |
| strategic position | how a business measures up in relation to other busineses in the industry |
Created by:
user-2014718
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