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301
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 whether real or virtual that say governing body or corporation |
| business | an organized effort to produce and/or distribute good an 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' (or shareholders') equity, 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 records | Documents containing information related to the amount of money going into employees of the 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 to fulfill |
| human resources | people who work to produce goods and service |
| human resources management | the process of planning, staffing ,leading, and organizing employees of the business |
| income | the money received by resource owners and 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 or controlling the amount of finished products a company has in stock. |
| job description | the official statement of job duties an employee must perform. |
| loan | the sum of money lent to a business or individual for a specific time period that is repayable with interest. |
| manager | an individual whose job involves planning, organizing, staffing, directing, and controlling for a business. |
| manufactoring | changing the shapes or forms of materials so that they will e useful for consumers. |
| marketing | the process of creating communicating, delivering, and exchanging offering that have value for consumers, clients, partners, and society at large. |
| merger | two individual businesses that combine to form one organization. |
| mission | a brief summary of a business owner wants a business to be doing. |
| nonprofit business | a business or organization whose intent is t make enough money to support its business. |
| offshoring | producing goods in foreign countries. |
| operations | the day to day activities required for continued business functioning. |
| orientation | job preparation or introduction training in which new employees are acquainted with their surroundings, receive general information about the company and its practices, 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 s used to accomplish another activity. such as producing, providing, goods and services. |
| revenues | sales or gross income. |
| strategic management | the process of planning, controlling, organizing an organization or department. |
| strategic position | how a business measures up in relation to other businesses in the industry can involve the impression r image of a business or organization. |
| strategies | plans or actions for achieving goals or 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:
jayr.074
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