Business Theme 1 Flashcards
What is enterprise?
Entrepreneurial activity- business of company.
What does obsolete mean?
Out of date or not used anymore.
What is the definition of E-commerce?
Using the internet to carry out business transactions.
What is the market place?
The activities involved in buying and selling particular types of goods or services, in competition with other companies.
What does demographic mean?
Relating to the population, such as average age, average income and so on.
What is risk?
The possibility that an enterprise will have lower than anticipated profits or experience a loss.
What is cashflow?
The amount of money coming in and going out of the business and the timing of this movement.
What is a stakeholder?
Anyone who has an interest in the activities of a business, such as its workers, its suppliers, its directors, the local community and the government.
Define USP
Unique selling point is something that makes a product stand out from its competitors.
What is the economy?
The system by which a country’s money and goods are produced and used.
What is a focus group?
A group of people who discuss their views on a product, service, ad or idea, either face to face or online.
What does incentive mean?
Something such as a gift that encourages someone to do something.
