-
business
- Any activity that seeks to
- provide goods and services to
- others while operating at a
- profit.
-
goods
- Tangible products such as
- computers, food, clothing, cars,
- and appliances.
-
services
- Intangible products (i.e.,
- products that can't be held in
- your hand) such as education,
- health care, insurance,
- recreation, and travel and
- tourism.
-
entrepreneur
- A person who risks time and
- money to start and manage a
- business.
-
revenue
- The total amount of money a
- business takes in during a
- given period by selling goods
- and services.
-
profit
- The amount of money a
- business earns above and
- beyond what it spends for
- salaries and other expenses.
-
loss
- When a business's expenses
- are more than its revenues.
-
risk
- The chance an entrepreneur
- takes of losing time and money
- on a business that may not
- prove profitable.
-
standard of living
- The amount of goods and
- services people can buy with
- the money they have.
-
quality of life
- The general well-being of a
- society in terms of its political
- freedom, natural environment,
- education, health care, safety,
- amount of leisure, and rewards
- that add to the satisfaction and
- joy that other goods and
- services provide.
-
stakeholders
- All the people who stand to
- gain or lose by the policies and
- activities of a business and
- whose concerns the business
- needs to address.
-
outsourcing
- Contracting with other
- companies (often in other
- countries) to do some or all of
- the functions of a firm, like its
- production or accounting tasks.
-
nonprofit organization
- An organization whose goals
- do not include making a
- personal profit for its owners or
- organizers.
-
factors of production
- The resources used to create
- wealth: land, labor, capital,
- entrepreneurship, and
- knowledge.
-
business environment
- The surrounding factors that
- either help or hinder the
- development of businesses.
-
technology
- Everything from phones and
- copiers to computers, mobile
- devices, medical imaging
- machines, and the various
- software programs and apps
- that make business processes
- more effective, efficient, and
- productive.
-
productivity
- The amount of output you
- generate given the amount of
- input (e.g., hours worked).
-
e-commerce
- The buying and selling of
- goods over the Internet
-
database
- An electronic, storage file for
- information.
-
identity theft
- The obtaining of individuals'
- personal information, such as
- Social Security and credit card
- numbers, for illegal purposes
-
empowerment
- Giving frontline workers the
- responsibility, authority, freedom,
- training, and equipment they
- need to respond quickly to
- customer requests.
-
demography
- The statistical study of the
- human population with regard
- to its size, density, and other
- characteristics such as age,
- race, gender, and income.
-
climate change
- The movement of the
- temperature of the planet up or
- down over time
-
greening
- The trend toward saving
- energy and producing products
- that cause less harm to the
- environment.
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