Business | an organisation or system where goods and services are exchanged for one another or for money |
Entrepreneur | a person(s) who sets up their own business |
Enterprise/Firm | a business or a company |
Social Enterprise | an activity that achieves a reward for society |
Gap In The Market | an unmet customer need or a group of potential customers who are not yet purchasing a good or service |
Market | the way buyers and sellers are brought together |
Mass Market | a large market; a product/service aimed at a wide range of people |
Niche Market | a small, specialised market; a product/service aimed at a small group of people |
Franchise | when one business (see Franchisor) gives another person or business (see Franchisee) the right to trade using its name to sell its products or provide its services |
Franchisor | the company that allows an individual (see Franchisee) to run a location of their (the franchisor’s) business |
Franchisee | someone who buys and runs a location of a franchise |
Stakeholder | anyone who has an interest (or stake) in a business |
Primary Stakeholder | essential to the success or failure of the business (e.g.: customers) |
Secondary Stakeholder | feel they are involved in the organisation’s future (e.g.: pressure groups) |
Internal Stakeholder | people who’re already committed to serving your organisation (e.g.: board members) |
External Stakeholder | individuals or groups from outside that’re affected by the consequences and outcomes of an organisation’s decisions (e.g.: suppliers) |
Sole Trader | a person who is the only owner of a business, entitled to keep all profits after tax has been paid but liable for all losses (unlimited liability) |
Partnership | a legal form of business operation between two or more individuals who share management and profits |
Private Limited Company (Ltd) | can only have between 2 – 50 members; shares are sold privately among family/friends/colleagues/etc |
Public Limited Company (Plc) | has shares that can be publicly traded on a stock market |
Dividend | the share of the profit that shareholders get from a company |
E-Commerce | the buying and selling of goods and services over the Internet; also for advertising |
Website | a location connected to the Internet that maintains web pages |
Created By
Metadata
Favourited By
Comments
No comments yet. Add yours below!
Add a Comment
Related Cheat Sheets
More Cheat Sheets by BullShit Help