Taking risk and making profits within a dynamic business environment
3 views 0 purchase
Course
Taking risk and making profits
Institution
Taking Risk And Making Profits
Taking risk and making profits within a dynamic business environment
business - answer-Any activity that seeks to provide goods and services to others while operating at a profit.
goods - answer-Tangible products such as computers, food, clothing, cars, and appliances.
services - answer-...
Taking risk and making profits within a dynamic business environment
business - answer-Any activity that seeks to provide goods and services to others
while operating at a profit.
goods - answer-Tangible products such as computers, food, clothing, cars, and
appliances.
services - answer-Intangible products (i.e., products that can't be held in your hand)
such as education, healthcare, insurance, recreation, and travel and tourism.
entrepreneur - answer-A person who risk time and money to start and manage a
business.
revenue - answer-The total amount of money a business takes in during a given
period by selling goods and services.
profit - answer-The amount of money a business earns above and beyond what it
spends for salaries and other expenses.
loss - answer-When a business expenses are more than its revenues.
risk - answer-The chance an entrepreneur takes of losing time and money on a
business that may not prove profitable.
standard of living - answer-The amount of goods and services people can buy with
the money they have.
quality of life - answer-The general well-being of a society in terms of its political
freedom, natural environment, education, healthcare, safety, amount of leisure, and
rewards that add to the satisfaction and joy that other goods and services provide.
stakeholders - answer-All the people who stand to gain or lose by the policies and
activities of a business and whose concerns the business needs to address.
kinds of stakeholders - answer-Stockholders, customers, surrounding community,
environmentalist, dealers (retailers), employees, government leaders, suppliers,
media, and bankers. Often the needs of a firm's various stakeholders will conflict.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller machariaf706. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
