Glossary Page 1

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Define: Business Objective
A business objective is a stated goal or target of a business.
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Define: Business Plan
A business plan is a detailed description of a new or existing business, including the company's strategy, aims and objectives, marketing and financial plan.
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Define: Business Angel (Venture Capitalist)
A business angel is a particular type of investor, usually a successful entrepreneur, who is willing to invest in high-risk, high-growth firms at a very early stage.
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Define: Budget
A budget is a detailed plan of income and expenses expected over a certain period of time.
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Define: Breakeven Output (or point)
The breakeven output is the point at which the total sales of a business equal total costs.
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Define: Bank Overdraft
A bank overdraft is borrowings from a bank on a current account which are payable on demand.
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Define: Bank Loan
A bank loan is a fixed amount loan from a bank which is generally used to finance long-term assets.
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Define: Adviser
An adviser is an external contact of a business that provides support and advice, sometimes for free.
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Adding Value
Adding value is the process through which a business increases the worth of the resources included in production so that customers perceive the product to be worth more than the cost of the inputs.
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Other cards in this set

Card 2

Front

A business plan is a detailed description of a new or existing business, including the company's strategy, aims and objectives, marketing and financial plan.

Back

Define: Business Plan

Card 3

Front

A business angel is a particular type of investor, usually a successful entrepreneur, who is willing to invest in high-risk, high-growth firms at a very early stage.

Back

Preview of the back of card 3

Card 4

Front

A budget is a detailed plan of income and expenses expected over a certain period of time.

Back

Preview of the back of card 4

Card 5

Front

The breakeven output is the point at which the total sales of a business equal total costs.

Back

Preview of the back of card 5
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