Intro-Bus (5-8)

1

100

a government agency that helps small business owners develop business plans and obtain financing and other support for their companies.

Small Business Administration (SBA)

200

money provided by large investors to finance new products and new businesses that have a good chance to be very profitable.

Venture capital

300

activities provided for the satisfaction of others that are consumed at the same time they are produced.

Services

400

Create the products and services used by individuals and other businesses

Producers

500

guidelines used in making consistent decisions

Policies

2

100

Businesses involved in selling the goods and services of producers to consumers and other businesses

Intermediaries

200

Generating Ideas, Raising Capital, Employing and training personnel, buying goods and services, marketing goods and services, maintain business records

What are the functions of Business Activities

300

A business owned and controlled by two or more people who have entered into a written agreement

Partnership

400

A business owned and run by just one person

Proprietorship

500

A written contract granting permission to operate a business and sell products and services in a set way

Franchise

3

100

a short, specific written statement of the reason a business exists and what it wants to achieve

Mission Statement

200

the company that owns the product or service and grants the rights to another business

Franchiser

300

descriptions of the way work is to be done

Procedures

400

• the amount of money needed to open the business.

Startup financing

500

• the money needed to pay for the current operating activities of a business.

short term financing

4

100

• money needed for the main resources of a business (such as land, buildings, and equipment) that will last for many years.

Long term financing

200

• the process of starting, organizing, managing, and assuming the responsibility for a business.

Entrepreneurship

300

• a written description of the business idea and how it will be carried out, including all major business activities.

Business Plan

400

• involved evaluating the work of employees and improving performance through training and development.

• Performance management

500

• A planned reduction in the number of employees needed in a firm in order to reduce costs and make the business more efficient.

• Downsizing

5

100

• A worker whose job involves a great deal of manual work, including the operation of machinery and equipment or other production activities.

• Blue-collar worker

200

• An organized group of employees who negotiate with employers about issues, such as wages and working conditions.

• Labor Union

300

• People who work for a business, includes management and employees, full-time and part-time workers.

• Human Resources

400

• The physical conditions and the psychological atmosphere in which the employees work.

Work Environment

500

• A worker whose work is more mental than physical and involved the handling and processing of information.

• White-collar worker