Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
28 Cards in this Set
- Front
- Back
|
What is ROI?
|
Return On Invstment - The return a businessperson gets on the moeny he and other owners invest in the business.
|
|
|
What are the three ways the government can reduce the risk of going into business?
|
1. Ability to draft contracts that are enforceable in court.
2. Establish a currency that is tradeable in world markets. 3. Eliminating corruption in business and it's own ranks. |
|
|
What is E-Commerce?
|
Electronic commerce; the buying and selling of products and services over the internet.
|
|
|
Define Click & Mortar:
|
The practice of traditional retailers expanding onto the Internet.
|
|
|
What is a STAKEHOLDER?
|
Are all the people who stand to gain or lose by the policies and activities of an organization.
|
|
|
Define EMPOWERMENT:
|
Giving frontline workers the responsibility and freedom to respond quickly to customer requests.
|
|
|
Define DEMOGRAPHY:
|
The statistical study of the human population to learn its soze. density and other characteristics.
|
|
|
What is DIVERSITY and MULTICULTURALISM?
|
Interchangable words that refer to the process of optimizing the contributions of people from different cultures.
|
|
|
Define TELECOMMUTE:
|
To work at home adn keep i touch with the company through telecommunications.
|
|
|
Define PRODUCTIVITY:
|
The total output of goods and services in a given period of time divided by work hours (output per work hour)
|
|
|
Define GOODS:
|
Tangible products such as computers, food, clothing, cars and appliances.
|
|
|
Define SERVICES:
|
Intangible items such as education, health care and insurance.
|
|
|
Define PROFIT:
|
Is money a business earns above and beyond the money that it spends for salaries and other expenses.
|
|
|
Define PRODUCTIVITY:
|
The total output of goods and services in a given period of time divided by work hours (output per work week)
|
|
|
What is RISK?
|
Is the chance that an entrepreneur takes of losing time and money on a business that may not prove profitable.
|
|
|
What is a LOSS?
|
Occurs whena a business's costs and expenses are more than its revenues.
|
|
|
What is a DATABASE?
|
A database is an electronic repository of information.
|
|
|
Define an ENTREPRENEUR:
|
A person who risks time and money to start and manage a business.
|
|
|
Define BUSINESS:
|
Any activity that seeks profit by providing goods and services to others.
|
|
|
What are the 5 ELEMENTS KEY TO A BUSINESS GROWTH?
|
1. The economic environment, including taxes and regulations.
2. The technological environment. 3. The competitive envrionment. 4. The social environment 5. the global business environment. |
|
|
What are the FACTORS OF PRODUCTION?
|
1. Land (and other natural resources)
2. Labor (Workers) 3. Capital (e.g. machines, tools, bldgs) 4. Entrepreneurship 5. Knowlege |
|
|
what is a DOT.COM COMPANY?
|
An internet company whose web address ends with .com.
|
|
|
What is a NON-PROFIT ORGANIZATION?
|
An organization whose goods do not include making a personal profit for its owners.
|
|
|
Define QUALITY OF LIFE:
|
The general well-being of a society.
|
|
|
Define REVENUE:
|
The total amount of money a business earns in a given period by selling goods and services.
|
|
|
What is a NON-PROFIT ORGANIZATION?
|
An organization whose goods do not include making a personal profit for its owners.
|
|
|
Define STANDARD OF LIVING:
|
The amount of goods and services people can buy with the money they have.
|
|
|
Define E-TAILING:
|
Selling retail items on the Internet.
|
