business
Any activity that seeks to provide goods and services to others while operating at a profit.
profit
The amount of money a business earns above and beyond what it spends for salaries and other expenses.
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.
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 money they have.
Quality Of Life
The general well-being of a society in terms of political freedom, a clean natural environment, education, health care, safety, free time, and everything else that leads to satisfaction and joy.
stakeholders
All the people who stand to gain or lose by the policies and activities of a business.
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 business.
technology
Everything from phones and copiers to computers, medical imaging devices, personal digital assistants, and the various software programs that make business processes more 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 where information is kept; one use of databases is to store vast amounts of information about consumers.
empowerment
Giving frontline workers the responsibility, and freedom 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.
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.
outsourcing
assigning various functions, such as accounting, production, security, maintenance, and legal work to outside organizations
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
Identity Theft
the obtaining of individuals' personal information, such as Social Security and credit card numbers, for illegal purposes