Business Key Terms 1.1

  • Created by: KF02
  • Created on: 16-10-18 16:11
Demographic
Relating to the population, such as average age, average income and so on.
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Risk
The possibility that an enterprise will have lower than anticipated profits or experience a loss.
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Enterprise
Entrepreneurial activity (can also mean a business or company).
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Values
Standards of behaviour or moral principles.
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Intuition
Knowing something instinctively or understanding something easily without conscious thought.
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Market Research
The process of gathering information about the market and customers wants and needs in order to inform business decisions, including product design and marketing.
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Social Media
Websites that allow users to interact with other users, by sharing text-based messages/pictures or links to online content.
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Market Place
The activities involved in buying and selling particular types of goods and services, in competition with other companies.
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M-Commerce
Using mobile technologies, such as smartphones and tablets, to carry out business transactions.
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Sales Revenue
The amount of money that comes in from a business’s sales.
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Economy
The system by which a country’s money and goods are produced and used.
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Market Share
The proportion of sales in a market that are taken by one business.
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Investment
Putting money into a business with the intent of making a profit.
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Payment Platform
Enables businesses to take online payments from customers. They are usually free for the customer to use, but take a small amount of commission from the seller.
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Stakeholder
Anyone who has an interest in the activities of a business, such as its workers, suppliers, directors, the local community and government.
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Revenue Forecast
A prediction of future revenue based on expected sales, this is either a judgement or based on previous sales patterns.
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Cash Flow
The amount of money coming in and going out of the business and the timing of the movement.
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Loyalty
Wanting to always support something or someone.
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E-Commerce
Using the internet to carry out business transactions.
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Consumer
Someone who buys and uses goods and services.
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Start-Up
A new business, usually with only a small number of employees- perhaps only 1.
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Data
Information, particularly statistics, that can be collected and analysed.
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Financial Reward
The money that an entrepreneur or investor receives when a business succeeds.
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Entrepreneur
Someone who creates a business, taking on financial risks with the aim of making a profit from the business.
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Ethics
Moral principles or standards that guide the behaviour of a person or business.
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Unique Selling Point (USP)
Something that makes a product stand out from its competitors.
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Obselete
Out of date, or not used anymore.
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Other cards in this set

Card 2

Front

The possibility that an enterprise will have lower than anticipated profits or experience a loss.

Back

Risk

Card 3

Front

Entrepreneurial activity (can also mean a business or company).

Back

Preview of the back of card 3

Card 4

Front

Standards of behaviour or moral principles.

Back

Preview of the back of card 4

Card 5

Front

Knowing something instinctively or understanding something easily without conscious thought.

Back

Preview of the back of card 5
View more cards

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