Business Management and Administration Career Cluster

profit

A financial gain, esp. the difference between the amount earned and the amount spent in buying, operating, or producing something

business plan

A written description of the business idea and how it will be carried out, including all major business activities.

opportunity

a chance to do something

market

a group of buyers and sellers of a particular good or service

board of directors

a group of persons elected by the stockholders to manage a corporation

Entrepreneur

a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

Resources

all things used in producing goods and services

Business

any activity that seeks to provide goods and services to others while operating at a profit

promotion

any form of communication used to inform, persuade, or remind

market research

the action or activity of gathering information about consumers' needs and preferences.

Expenses

the costs of operating a business

administration

the management of any office, business, or organization

finance

the management of large amounts of money, especially by governments or large companies.

CEO (Chief Executive Officer)

the person who is in charge of a company

Marketing

the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return

Management

the process used to accomplish organizational goals through planning, organizing, leading, and controlling people and other organizational resources

service

work that is performed for someone

tenacity

Hanging on to something persistently or stubbornly

goods

Items purchased to satisfy needs and wants

need

Basic requirement for survival