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46 Cards in this Set
- Front
- Back
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Assets |
items of value that are owned by the business |
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Bankrupt |
a person who is unable to pay their debts |
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Capital |
funds invested in a business |
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Competitor |
a business rival in the same market for products or services offered by anorganisation |
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Ethics |
d |
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Employer |
a person who hires another to work under their authority and control, in returnfor payment of a regular wage or salary |
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Entrepreneur
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a person who is willing to combine risk taking with their knowledge and skills tomake a profit |
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EnvironmentalPressures |
d
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EstablishedBusiness |
d |
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NewBusiness |
d |
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Expenses |
a thing on which one is required to spend money on |
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Forprofit organisation |
an organisation that is concerned about achieving success through profit maximisation, growth, and increases in market share. |
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GrossDomestic Product |
The total value of goods produced and services provided in a country during oneyear. |
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Goods |
merchandise to be brought and sold |
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Notfor Profit Organisation |
isan organisation that does not earn profit for its owners, and are concernedabout providing services to the community |
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Franchise |
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Global Market Place |
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Income |
money received for work or through investments |
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IndustrySector |
Different types of organisations and enterprisesproducing goods and services in the same industry or business area |
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Infrastructure |
physical resources of an area, e.g. power,transport, utility services, that benefit the entire community |
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Innovation |
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IntellectualProperty |
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Investment |
the investingof money or capital in order to gain profitable returns |
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Legal Entity |
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Levy |
imposea tax, fee or fine on |
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Liability |
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Macro Environment |
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Internal Environment |
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MarketShare |
the percentage of total sales in a market held by onebrand or business |
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MicroBusiness |
smallbusiness that has fewer than five employees |
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MissionStatement |
aglobal statement that reflects an organisation’s reason for being or purposeand the way it will be managed |
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Objectives |
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Organisation |
twoor more people who work together in a structured way to achieve a specificobjective or set of objectives |
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Shareholder |
d |
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SocialResponsibility |
d |
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Stakeholder |
d |
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SmallBusiness |
anindependently owned and operated business, under close control of its owner whohas contributed the majority of the operating capital and is the main decisionmaker; the business may employ up to 20 people (non- manufacturing) and 100people (manufacturing) |
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SmallOrganisation |
d |
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MediumOrganisation |
d |
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LargeOrganisation |
d |
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Partnership |
abusiness owned and run by two or more partners |
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Purposeof a Business Plan |
d |
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Profit |
afinancial gain. Profit = revenue – expenses |
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SoleTrader |
ownedand run by one person. The owner is in direct control of everything and is legallyaccountable for the finances of the business including debts, loans, loss, etc.The owner receives all profit. |
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Stakeholder |
a person who has an interest in an organisation |
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Tax |
acharge placed on earnings |
