0001 General Terminology

One who organizes, manages, and assumes the risk of a business firm or venture.

A form of compensation usually for skilled and unskilled labor, expressed in terms of hours, weeks or pieces completed.

The introduction of something new; a new idea, method or device.

A business that purchases finished goods for resale.

A business that makes finished goods from raw materials by hand or machinery.

One who is under the control and direction of an employer with regard to the performance of employment

Generally considered to be compensation for managerial or administrative services, expressed in terms of a month or year

A business which is independently owned and operated and is not dominant in its field of operations.

Fundamental statements that serve as guides to management practice.

The practice of trying to obtain something that is being sought by others under similar circumstances at the same time.

Organization that combines raw materials, capital, labor, and management skills to produce goods and services for profit

A business that provides a service as opposed to a product.

Person who agrees to perform a paid service; is not subject to the control of those for whom the service is performed.