Exploring Business Activities- 1.01 Key Terms

Items businesses sell that ran physically weigh or measured, such as iPods and CDs.

Money that remains after a business has paid for the expenses of running the business

The process of leading and directing all of and organization.

Activities in a normal day of a business for purpose of producing value for stakeholders.

A company that does business and has business facilities in many countries, such as Coca Cola

Contract between parent company and a franchise to use the name and sell the goods or services

The process of creating, promoting, and presenting a product to the consumers.

The process of recording and reporting the financial data for a business.

Business considered separate from the owner of the business by law, the owners are stockholders

Items necessary for existence, such as clothing, Food and shelter

A person who uses goods or services. Many times the consumer is also the customer.

Contest between businesses to win customers business and loyalty

A persons incentive to work to gain something for himself or herself(that is to make money)

process of developing, installing, and implementing computer information systems and more

The activities that deal with the hiring, firing,training and other personnel(employee) issues

Business whose goal is to provide rather than to make a profit, such as the American Red Cross

Items that would be nice to have, but are not necessary

A business owned by two or more people.

Tasks that businesses perform or provide for customers, such as haircuts and car washes.

A business owned by only one person.