EC-071
For Profit Business
What is a business that is made to make money for the owner
Management
What is the logical process of coordinating resources, such as money and employees, to accomplish an organization’s goals
Staffing
What is determining staffing needs and recruiting a employee to fill the position
Customer Relations
What are all the activities a business engages in to interact with its customers
Nonprofit Business
What is a business that is made to help others rather than to just make money
Planning
What is deciding what work will be done and how it will be accomplished.
Compensation and Benefits
What is the pay for work completed
Customer Loyalty
What is the way the customer feels the business cares about them and will continue to use their services because of that
Business Activities
What is actions taken by businesses to generate profits or to reach financial goals
Organizing
What is setting up the way the business’s work will be done
Training and Development
What is ensuring that employees are knowledgeable and productive.
Word-of-Mouth Promotion
What is when customers are happy with a business, they are likely to tell their friends, family, coworkers, and acquaintances about it
Financial Analysis
What is the process of planning, maintaining, monitoring, controlling, and reporting the use of financial resources
Staffing
What is management function because staffing helps the business find employees who know how to do the necessary work
Compliance
What is making sure you follow all laws and regulations that are in place
Productivity
What is the measure of how well your business is performing
Angel Investors
Directing
What is providing guidance to workers and work projects
Employee Relations
What is the relationship between the company and the individual and collective group of them
Competition
What is the struggle between two businesses to gain more customers than the other and run them out of business to get their remaining customers