Intro to Business

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Intro to Business
2013-01-19 19:22:08
Business Intro 1st level business

intro to business terms
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  1. Revenue
    • everything that you take in as a business
  2. Profit
    • revenue - expenses..
    • I.E. exspenses, materials, overhead
  3. Stakeholders
    All ppl who stand 2 gain/lose by the policies/activities of a business
  4. Outsourcing
    Contracting w/ other co's (often in other countries) to do some of the firms functions

    • IE
    • production
    • accounting
    • customer service
  5. Insourcing
    Foreign co's opening ofc's/factories in the USA
  6. Nonprofit Organization
    An org whose goals do not include making a personal profit for it owners/organizers

    They have to end the yr w/ the sme amount of $$$ that they start w/
  7. Risk
    anyone who creates a direct correlation for profit
  8. how is risk related to profit?
    • risk isn't a direct corelation to profit
    • less risk+more profit
  9. Govt role in business
    • to minimize $$$ & kping taxes regulated
    • allowing private ownership of businesses
    • minimize interface w/ free exchange of goods/serv
    • Establish currency that's trade able in world markets