ch1terms
Terms
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- business
- an activity that seeks to provide goods and services to thers while operating for a profit
- technology
- phones, copiers, computers, computer software programs that make a business more effectivem efficient, and productive
- stakeholders
- people who stand to gain or lose by the policies and activities of a business
- demography
- statistical study of the human population with regards to its size, density, and other characteristics such as age, race gender, and income
- productivity
- amount of output you generate given the amount of input
- factors of production
- land (natural resources), labor (workers), capital, entreprenuership, knowledge
- profit
- the amount of money a business earns above and beyond what it spends for salaries and other expenses
- outsourcing
- contracting with other companiesto do some or all of the functions of a firm (often in other countries)
- e-commerce
- buying and selling goods over the internet
- business environment
- surronding factors that either help of hinder the development of a business
- goods
- tangible products such as computers food clothing cars and appliances
- entrprenuer
- person who risks time and money to start and manage a business
- standard of living
- amount of goods and services a people can buy with the money they have
- identity theft
- obtaining f private information about a person such as social security and or credit card number and using that information for illegal purposes such as buying things
- revenue
- total amount of money a business takes in during a given period by selling goods and services
- nonprofit organization
- organization whose goal does not include making a personal profit for its owners and organizers
- empowerment
- giving frontline workers the ability authorit and and freedom to respond quickly to consumer requests
- loss
- business expenses are more than its revenue
- risk
- the chance an entreprenuer takes of losing time and money on a business that may not prove profitable
- services
- intangible products such as education health care insurance
- database
- electronic storage file where information is kept
- quality of life
- general well-being of a society in terms of olitical freedom, clean and natural environment, education, healthcare, safety, free time, and every thing else that leads to satisfaction and joy