Vocabulary

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  • Created by: arpo
  • Created on: 25-09-15 04:31

Franchises

Franchise is the granting of a license by one person

(the franchisor) to another (the franchisee) to trade using the brand name of the franchsor.

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limited Companies

A company have limited liability , Sell share to raise capital , Owned by shareholders , run by directors and managers 

 

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Private Limited Company

These have Ltd after their name. Shares can only be sold family and friend inwited people only.

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Public Limited Company

These have LPC after their name. Shares can be sold to anyone. Sold on the stock exchange There is a risk of being taken over.

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Entrepreneurs

A person who organises operates and assumes the risk for a business venture.

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partnership

A partnership is the relationship existing between two or more person who join to carry on a trade or business.

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Sole trader

A sole trader is you run your own business as an individual. you can keep all your business's profits after you've paid tax on them.

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Overview

A Overviem is  a general reviem or summary of a subject and a critical overviem of the scientific issues of our time.

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Unincorporated association

An unincoroorated association is an organisation set up through an agreement between a group of people who come together for a reason other then to make a profit, e.g. a voluntary group or a sports clup.

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Business Structres

Your form of business determins which income tax reture form you have to fit.

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Owners

A person who owns something

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managers

A person responsible for controlling or adminsisting all part of a company or similar organization.

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Employee

A person employed for wages or salary, especially at nonexecutive level.

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Community

A group of people living in the same place or having a particular characteristic in common.

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Government

The governing body of a nation , or community.

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Customers

A person or organization that buys goods or services from a store or business.

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Good

A good is to be desired or appoved of. e.g. Coca Cola , Hamberger , Steak ,

hot dog etc.

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Service

The action of helping or doing work for someone.

e.g. Heir cut , Suppermarket , Bank , Hotel , Hospital etc.

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Consumer

The final user of a product. 

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Market

All customers and Consumer who are interesting in buying a product and have the financial resources to do so.

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Need

A good or Service which is essntial to living. 

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Want

A good or service which people would like , but is not essential for living.

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Land

The part of the earth's surface that is not covered by water , as opposed to the sea or the air.

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Capital

The most impoetant city or town of a country or region , usually its seat of goverment and administrative center.

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Enterprise

A project or undertaking typically one that is difficult or requires effort.

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Labour

A lobour is work , especially hard physical work.

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Opportunity

The cost of the next best alternative fore gone.

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Adding value

The process of increasing the worth of resources by modifying them.

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Skakeholders

A person with an interest or concern in something , especially a business.

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Suppliers

The definition of a supplier is a person or entity that is the source for goods or services. A company that provides microprocessors to a major computer business is an example of a supplier.

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Determination

A determination is the process of establishing something exactly, typically by calculation or research.

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Initiation

The action of admitting someone into a secret or obscure society or group, typically with

a ritual.

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Taking Risks

The act or fact of doing something that involves danger or risk in order to achieve a goal. Starting a business always involves some risk-taking.

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Decision Making

The action or process of making decisions, especially important ones.

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Planning

The process of making plans for something.

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Persuasion

The action or fact of persuading someone or of being persuaded to do or believe something.

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Leader ship

The action of leading a group of people or an organization.

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Luck

A luck is success or failure apparently brought by chance rather than through one's own actions.

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