People in Business

What is a stakeholder

A stakeholder is an individual or group that has an interest in or is affected by a particular project, organization, or decision. Stakeholders can include employees, customers, investors, suppliers, and the community.

What is an entrepreneur

An entrepreneur is an individual who creates, manages, and assumes the risks of a business or enterprise, often innovating and driving economic growth.

What are investors

Individuals or entities that provide capital to a business in exchange for ownership equity or debt.

What are service providers

Individuals or companies that offer services to businesses or consumers, often playing a crucial role in the supply chain.

What is a supplier

A person or company that provides goods or services to another entity, often essential for production and operations.

What is a producer

An individual or company that creates goods or services for sale, often involved in the manufacturing process.

How can the government affect business

Government policies, regulations, and taxation can impact business operations, market conditions, and overall economic environment.

Who are employees

Individuals hired by a company to perform specific tasks or roles in exchange for compensation.

What is an employer

An individual or organization that hires employees to perform work in exchange for wages or salary.

Who is the consumer

An individual or group that purchases goods or services for personal use.

What are interest groups

Organizations of people who share common objectives and actively seek to influence public policy. They may represent various sectors, including business, labour, or environmental interests. They apply pressure and lobby decision makers

What is a trade union

A group of workers organized to protect their rights and interests, often through collective bargaining for better wages and working conditions.

Define a cooperative relationship in business

A cooperative relationship in business refers to a partnership where two or more entities collaborate to achieve mutual benefits, sharing resources, knowledge, and risks to enhance productivity and profitability.

Define a competitive relationship in business

A competitive relationship in business occurs when two or more entities vie for the same market share, customers, position or resources, often leading to rivalry in pricing, quality, and innovation.