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BE 301

Business Essential

TermDefinition
Angel investor Someone who provides startup money to a new business.
Asset Anything of value that a business or individual owns.
Bond A financial instrument representing a loan to a government or corporation.
Business An organized effort to produce and/or distribute goods and services.
Credit The arrangement allowing purchase now and payment later.
Credit rating A score based on a borrower's past loan history.
Database A virtual storage unit for information.
Debt Money owed by businesses or individuals.
Equity Assets minus liabilities; also known as net worth.
Executives Top-level employees.
Expenses Money a business spends.
Financial analysis Planning, monitoring, and controlling financial resources.
Financial records Documents detailing money flow into and out of a business.
Financing Funding a business through debt, equity, or venture capital.
For-profit business A business aiming to earn a profit.
Goal An objective to be fulfilled.
Human resources People who produce goods and services.
Human resources management Planning, staffing, leading, and organizing employees.
Income Money received for supplying goods and services.
Information management Processing and disseminating business data.
Interest The cost or reward of lending or borrowing money.
Inventory management Supervising and controlling finished products in stock.
Job description Official statement of an employee's duties.
Loan Money lent for a specific period, repayable with interest.
Manager Individual responsible for planning, organizing, and controlling a business.
Manufacturing Changing materials into useful forms for 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 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 policies, and are given specific information about their jobs.
Outsourcing Acquiring assistance from outside organizations/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 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 of action for achieving goals and objectives.
Supervisor 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.
Created by: user-2015042
Popular Business sets

 

 



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