Term
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Definition
| An organization that produces or sidtributes a good or service for profit. |
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Definition
| Involves making a product or providing a service. |
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Definition
| Business that provide assistance to satisfy specialized needs through skiled workers. |
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Definition
| Deals with all money matters related to running a business. |
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Definition
| Firms that produce goods that are often used by other businesses or organizations to make things |
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Definition
| countries that are undeveloped, have few manufacturing firms, and have large numbers of poor people who posses few goods. |
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Definition
| Firms engaged in marketing, in finance, and in furnishing services. |
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Definition
| Activities of values that do not result in the ownership of a physical product. |
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Definition
| A word often used to refer to all businesses within a category. |
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Term
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Definition
| The ability of profit-making organizations to compete with ther businesses in other contries. |
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Term
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Definition
| Occurs when an organization makes the right decision in deciding what products or services to offer customers or other users. |
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Definition
| Occurs when an organization producess needed goods or servicesoquickly at low cost |
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Definition
| Products made by firms in the United States. |
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Term
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Definition
| Products made by firms in other countries. |
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Definition
| A commitment to exellence that is accomplished by teamwork and continual improvement. |
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Term
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Definition
| The quanity or amount produced within a given time. |
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Term
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Definition
| Producing the largest quanity in the least time by using effecient methods and modern equipment. |
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Term
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Definition
| An assembly process in which a large number of products is produced. |
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Term
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Definition
| Cutting back on the goods and services provided and thereby ahrinking the size of a firm and the number of employes |
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Term
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Definition
| letting workers decide how to perform their work task. |
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Term
Gross Domestic Product
(GDP) |
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Definition
| Thw total market valued of all goods produced and serviced provided in a country, in a year. |
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Term
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Definition
| Income that escapes the GDP. |
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Term
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Definition
| A person who starts, manages, and owns a business. |
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Term
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Definition
| The term applied to any business that is operated by one or a few individuals. |
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Term
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Definition
| A legal aggreement between a company and a distributer to sell a product under special conditions. |
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Definition
| The parent company of a franchise agreement that divides the product or service. |
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Term
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Definition
| Distributer of a franchised product or service |
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Term
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Definition
| An employee who is given funds and freedom to create a special unit or department within a company in order to develope a new product, process, or service. |
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Term
Employee stock ownership plan
(ESOP) |
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Definition
| A benefit plan that gives company stock as bonuses or allows employees to purchase the stock at a discount. |
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