Basic terminology | Business owners | Business operation | Finances |
---|---|---|---|
Someone who buys goods and services
Consumer
|
A person who transforms ideas into a business
Entrepreneur
|
What are 'complimentary businesses'
Businesses that sell goods similar to another, like apple and android
|
what is profit
The money made in surplus of the operation costs
|
Someone who owns a portion of the company or business
Shareholder
|
A business owned by one person
Sole trader
|
Locations seen as 'high visibility'
Shopping centres and main roads
|
what is revenue
All the money made by a business
|
Money paid regularly to a shareholder by a company
Dividends
|
A business owned by anything between 2-400 (traditionally 2-20) people
Partnership
|
To what kind of business does visibility matter most
Retail and service providers
|
what is recession
A period of economic decline
|
Someone with an invested interest or who is affected by a company
Stakeholder
|
A business that is a different legal entity to its owner
​Incorporated business
|
What are 'support services'
Services that supplement a business' operations, like a computer parts store next to a tech accessories store
|
what is inflation (no, the kink is not a valid answer)
When the price of goods and services raises
|
What businesses do to decide which products to sell at what time
Forecasting
|
What word is used to refer to government owned businesses in place of 'business?
Enterprise
|
what is a 'flattened structure' in business
Less levels of management
|
How do businesses create wealth
By paying their employees who then buy things which in turn stimulates the economy
|