Business Richie

primer parcial

Business

A decision-making organization that combines human physical and financial resources to create goods and services that satisfy customer needs and wants.

Goods

Tangible physical products that can be stored and touched

Services

Intangible products that are consumed at the moment they are provided

Needs

Basic requirements for survival: food water shelter and clothing.

Wants

Desires that are not essential for survival and are unlimited

Inputs

The resources (land labour capital enterprise) used in the production process.

Outputs

The goods and services produced by a business.

Added value

The difference between the selling price of a product and the cost of the inputs used to make it.

Human resources

The people employed by a business—their skills knowledge and effort.

Physical resources

Tangible assets such as land buildings machinery vehicles and raw materials.

Financial resources

The money available to a business

Business functions

The four main areas of activity: human resource management finance and accounts marketing and operations management.

Primary sector

Businesses involved in extracting or harvesting natural resources

Secondary sector

Businesses that manufacture process or construct

Tertiary sector

Businesses that provide services to consumers and other businesses

Quaternary sector

A sub-set of the tertiary sector consisting of knowledge- and information-based activities

Chain of production

The sequence of stages across the sectors through which a product passes from raw material to final consumer.

Sectoral change

A shift in the relative share of employment and output of the different sectors of an economy over time.

Industrialization

The growth of the secondary sector as an economy develops.

De-industrialization

The decline in the relative importance of the secondary sector usually accompanied by growth of the tertiary sector.

Entrepreneur

A person who takes the financial risk of starting and running a new venture combining the other factors of production.

Intrapreneur

An employee who acts entrepreneurially within an existing organization.

Start-up

A newly established business typically small and in its early stages of development.

Business plan

Un documento escrito que establece los objetivos de una empresa y las estrategias de marketing operativa de recursos humanos y financiera para alcanzarlos.

SWOT analysis

Una herramienta que identifica las fortalezas y debilidades internas de una empresa y las oportunidades y amenazas externas.

STEEPLE analysis

Un marco para analizar el entorno externo considerando factores sociales tecnológicos económicos ambientales políticos legales y éticos.

Internal factors

Factores que están bajo el control de la empresa como el personal las finanzas los productos y los procesos.

External factors

Factores que están fuera del control de la empresa como los competidores la economía las leyes y la tecnología.

Market research

La recopilación y análisis de información sobre los clientes los competidores y el mercado para reducir el riesgo en la toma de decisiones.

Cash flow

El movimiento de dinero que entra y sale de una empresa durante un período de tiempo.