Business Characteristics Vocabulary

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Across
  1. 2. businesses which move finished goods from one business to another by buying, storing and reselling goods; often referred to as “middlemen”
  2. 4. equal to assets minus liabilities
  3. 5. department responsible for creating products which meet consumer wants and needs, guiding products through the product life cycle and understanding consumers through marketing research
  4. 6. businesses which provide goods and services to businesses and individuals, but operate on donations, volunteers and philanthropists rather than profit
  5. 7. four interrelated marketing strategies used to meet consumer needs; consist of product, price, promotion and place
  6. 8. financial statement which reports net income or net loss of a company
  7. 10. process of recording, classifying, summarizing and reporting the financial position of a business
  8. 11. department responsible for maintaining the employment process, training and developing staff and following laws and proper procedures
  9. 13. department responsible for managing the use of company funds, obtaining needed funds and creating a financial plan
  10. 16. process of effectively working together in group settings
  11. 17. department responsible for distributing goods and services in the most efficient and cost-effective manner
  12. 18. department responsible for producing goods and services in the most efficient and cost-effective manner
  13. 20. process of reaching a company’s goals and objectives by utilizing its resources; department responsible for the management process
  14. 22. businesses which develop products for distribution from raw goods
Down
  1. 1. marketing theory stating the stages experienced by products and services from their introduction to their decline; consists of four stages: introduction, growth, maturity, decline
  2. 3. debts or obligations owed by a business
  3. 7. developed the Hierarchy of Needs -- a pyramid expressing the needs of people in levels: basic needs, safety, belongingness, love, esteem and self-actualization
  4. 9. businesses which change raw or processed goods into finished goods
  5. 12. materials derived from natural resources
  6. 14. businesses which provide services to consumers and other businesses
  7. 15. financial statement which reports totals in asset, liability and owner’s equity accounts
  8. 19. businesses which change raw goods into a more finished form, known as processed goods
  9. 21. items of value owned by a business