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Biz Innovator unit 3

Opportunity Recognition and Intellectual Property

QuestionAnswer
Management Those in charge of running a business
Business The activity of providing goods and services involving financial and commercial and industrial aspects
Profit The commercial processes involved in promoting and selling and distributing a product or service
Telecommuting The amount of money left over after expenses are taken out
Downsizing Involves working at home usually on a computer
Outsourcing Contracting out selected functions or activities of an organization to other organizations that can do the work more cost efficiently
Research and Development Research and Development: Business or government activity that is purposely designed to stimulate invention and innovation
Marketing The commercial processes involved in promoting and selling and distributing a product or service
Market The world of commercial activity where goods and services are bought and sold
Bonus Additional payment to employees as a means of increasing output
Personnel Staff, employees, work force
Quarter One of four equal parts into which anything is or may be divided.
Promotion Act of raising in rank or position.
Asset Anything we value that is owned
Recruitment Finding new people to join an organization
Sales Department The division of a business that is responsible for selling products or services
Liability An amount owed by a business
Presentation A show or display
Meeting A formally arranged gathering
End User The person or group who will use the product produced by the project
Party A person involved in legal procedings
Objective The goal intended to be achieved
Entrepreneur A person who organizes, manages, and takes on the risks of a business
Contract A binding agreement between two or more persons that is enforceable by law
Commercial A commercially sponsored ad on radio or television
Venture Capital Money that is invested in new or emerging companies that are perceived as having great profit potential
Investment Putting money into something in order to make a profit
Credit Arrangement for deferred payment for goods and services
Opportunity Cost Cost in terms of foregone alternatives
Logistics The process of strategically managing the efficient flow and storage of raw materials, in-process inventory, and finished goods from point of origin to point of consumption
Created by: DPStewart
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