Term
|
Definition
| The easiest form of business to start and is owned and operated by only one person. |
|
|
Term
|
Definition
| A business owned and controlled by at least 2 people who have entered into a written agreement |
|
|
Term
|
Definition
| a seperate legal entity formed by documents filed with a state. it is owned by one or more shareholders and managed by a board of directors. |
|
|
Term
|
Definition
| the person who initiates the process of starting, organizing, managing, and assuming the responsibility for a business. |
|
|
Term
|
Definition
| an invention or creation that is brand new |
|
|
Term
|
Definition
| a designed change that increases the usefulness of a product, service, or process. |
|
|
Term
|
Definition
| an independant business with fewer than 500 employees that has an advantage when customers want more individual attention. |
|
|
Term
|
Definition
a written description of a business idea and how it will be carried out
|
|
|
Term
|
Definition
| the amount of money needed to open a business |
|
|
Term
|
Definition
| money needed to pay for the current operating of a business |
|
|
Term
|
Definition
| money needed for the main resources of a business that will last for many years. |
|
|
Term
|
Definition
| the process of accomplishing the goals of an organization by effectively using people and other resources |
|
|
Term
|
Definition
| the function involving analysing information, setting foals and making dexisions about what needs to be done |
|
|
Term
|
Definition
| the mangement function of identifying anf arranging the work and resources needed to achieve a companies goals |
|
|
Term
|
Definition
| the management function that includes directing and leading people to accomplish the planned work of the organization |
|
|
Term
|
Definition
| the management function that includes all of the activites involved in obtaining preparing and compensating employees |
|
|
Term
|
Definition
| the management function of determining how well the business is acomplishing its goals |
|
|
Term
|
Definition
| the way a manager treats and involves employees |
|
|
Term
|
Definition
| a management style best used when working under pressure or with untrained employees |
|
|
Term
|
Definition
| a management style best used when the work is routine and the staff is well trained |
|
|
Term
|
Definition
| the ability to motivate individuals and groups to accomplish important goals |
|
|
Term
|
Definition
| an organizational function and a set of processes for creating communication and delivering value to consumers and for managing customer relationships in a way that is financially beneficial to the company |
|
|
Term
|
Definition
| identifies how a company uses marketing to achieve its goals |
|
|
Term
|
Definition
| a specific group of individuls that have similar wants/needs |
|
|
Term
|
Definition
the blending of the four marketing elements
-distribution
-products
-price
-promotion |
|
|
Term
|
Definition
| things a business offers to satisfy a customers need the components include baisc, features, brand names, packaging, and warrenties |
|
|
Term
|
Definition
| determines the best way for customers to locate obtain and use a companies products/services |
|
|
Term
|
Definition
| setting and communicating the value of products/services |
|
|
Term
|
Definition
| communication information about products and services to potential customers |
|
|
Term
|
Definition
| consumers that buy a product/servicefor personal use |
|
|
Term
|
Definition
| consumers that buy products for incooproration into other products to sell to others |
|
|
Term
| consumer decision-making process |
|
Definition
| the specific sequence of steps that ocnsumers follow before making a purchase |
|
|
Term
|
Definition
the reasons consumers decide what products/services to purchase
|
|
|
Term
|
Definition
|
|
Term
|
Definition
| based on beliefs, feelings, and attitudes |
|
|
Term
|
Definition
| finding solutions to problems through carefully designed studies involving consumers |
|
|
Term
|
Definition
| intangible activites that are consumed at the same time that they are produced |
|
|
Term
|
Definition
| the way the seneer chooses to transmit information to the receiver |
|
|
Term
|
Definition
| all income that a business receives over a period of time |
|
|
Term
|
Definition
| the cost of operating a business |
|
|
Term
|
Definition
| the expenses that occur regularly and are of the same amount |
|
|
Term
|
Definition
| cost that difffer each time and may not be easy to estimate |
|
|
Term
|
Definition
| when revenue is greater than expenses |
|
|
Term
|
Definition
| when revenue in less than expenses |
|
|
Term
|
Definition
| detailed plans for the financial needs of individuals, families, and businesses. |
|
|
Term
|
Definition
| plans of the income and expenses from the beginning of a new business or a major business expansion until it becomes profitable |
|
|
Term
|
Definition
| the financial plan for ongoing operations of the business for a specific period |
|
|
Term
|
Definition
| estimate of the actual money that a business has recieve and paid out for a specific period |
|
|
Term
|
Definition
| used to record and analyze the financial performance of a business. |
|
|
Term
|
Definition
| what a company owns, anything of value owned by a business |
|
|
Term
|
Definition
| what a company owes to other people/businesses |
|
|
Term
|
Definition
| assets liabilites and owners equity for a specific period of time |
|
|
Term
|
Definition
| a companys slaes and profti for a specific date are listed on an income statement |
|
|
Term
|
Definition
| the financial records of employee compensation, deductions, and net pay |
|
|
Term
|
Definition
| the form used to document each employees pay history |
|
|
Term
|
Definition
| various amounts taken from gross pay to determine net pay. include federal/state taxes, social security, medicare, and other coluntary deductions such as retirement and medical insurance. |
|
|
Term
|
Definition
| income an employee makes before any deductions |
|
|
Term
|
Definition
| what an employee makes after all deductions are taken out |
|
|
Term
|
Definition
| actions of individuals brought together for a common purpose/goal |
|
|
Term
|
Definition
| a form of wordless communication such as gestures facial expressions, physical appearance, use of space, and emphasis on time |
|
|
Term
|
Definition
| a business where all marketing and selling of products or services are done through the internet |
|
|
Term
|
Definition
| a short specific written statement of the reason a business exist and what it wants to ahceive |
|
|
