Business Finance
Refers to the possibility of something happening which could cause issues within a business
risk
when businesses offer products or services that exceed market standards in relation to other businesses
competitiveness
what is it called when a business/ company has more than one store?
franchise
A business that only has one owner
sole trader
What remains after all business expenses have been deducted from sales revenue
profit
A specific group of potential customers
target market
The development of something new
invention
what is a partnership?
all partners manage the business and share equally in profits, losses, and liabilities.
Money received by a person for providing his or her labour, or a business from a return on its investments
income
A fixed amount of money paid on a regular basis, usually fortnightly or monthly, to a permanent employee of a business
salary
An improvement on something already established
innovation
The process of planning and executing your business ideas, pricing, promotion and distribution of your ideas, goods or services
marketing
name the title of someone if they are responsible for costs/ spendings of the business?
People who are part owners of a company because they own a number of shares
shareholders
what should we do to better understand our customers?
primary research/ ask them for their feedback
what is this subject called?
business innovation
The money a business receives for its products
revenue
what is a product? compared to a service?
A product is a physical item that can be seen, touched, and owned. It is produced, stored, and sold by businesses to consumers. A service is an intangible offering that involves a performance or an action.
social media, advertisements, website
Refers to the business's share of the total industry sales for a particular product
market share