Across
- 5. The people hired to be responsible for overseeing certain functions, operations, or departments within an organization.
- 7. The individuals or organizations that actually use a product.
- 9. The group of senior managers who run a company on behalf of the owners of the company.
- 10. A decision-making organization established to produce goods and/or provide services.
- 11. This refers to the mutually exclusive and incompatible interests of different stakeholder groups. If not managed, it often leads to protracted disagreements, disputes, and arguments in the workplace.
- 12. These are physical (tangible) products, such as cars, clothes, flowers, food, furniture, smartphones, and toys.
- 14. The individuals who take risks in overseeing a business organization or business venture, usually in pursuit of profit.
- 16. sector: Business activity involved with the extraction of natural resources, e.g. fishing, mining and agriculture.
- 18. and accounts: Function of an organization responsible for ensuring that the business has sufficient funds in order to conduct its daily operations.
- 20. The people or organizations that have shares in a company. Their interest is financial, i.e., regular dividends and a higher share price.
- 22. These are the workers within an organization. Their interests include job security, a competitive remuneration package, a safe working environment, and opportunities for career development.
- 23. These are the desires of individual customers, i.e., the goods and services that they would like to have (rather than things they need to survive), such as a new smartphone, a family holiday in an overseas location, fresh flowers, or jewellery.
- 24. The individuals or organizations that purchase a product.
- 26. A business alliance consisting of two to twenty individual owners who share responsibility for the business. A law firm with multiple partners is an example of a partnership.
- 27. sector: Business activity involved with the manufacturing or construction of finished products.
- 30. The knowledge, skills and experiences of individuals who have the capability to manage the overall production process.
- 32. of production: The collective term for the resources used in the production process, i.e. land, labour, capital and entrepreneurship.
- 33. The business function referring to the process of making goods and providing services from the available resources of a business to meet the needs and wants of its customers.
Down
- 1. For-profit social enterprises owned and run by their members. A good example is a consumer cooperative grocery store, where customers become member-owners and have a say in the store's operations.
- 2. partnership: A special type of partnership where one or more partners contribute capital and enjoy a share of the profits without participating in the business's daily operations. A real estate investment partnership often has limited partners who finance the project but leave the decision-making to the general partner.
- 3. Any business organization that is owned by its shareholders, who have limited liability. Privately held companies, such as an accounting firm, and publicly held companies, like Apple Inc., are examples of corporations.
- 4. Business function of identifying the needs and wants of customers so that the organization can provide goods and services to meet these requirements and desires, usually in a profitable way.
- 6. The process of creating goods and/or services using the factors of production available to the business.
- 8. value: The process of producing a particular good or service that is worth more than the cost of the resources used to produce it.
- 13. Intangible products, such as haircuts, tourism, public transport, banking, insurance education, and healthcare.
- 15. These are the firm's rivals, which operate in the same industry and contest for the same customers.
- 17. of Partnership: A legally binding contract that all joint owners of a partnership sign, stating the purpose of the business, partners' formal rights, and profit-sharing agreements. Partners in a law firm sign a deed of partnership to establish their working relationship.
- 19. The basic necessities that an individual must have in order to survive, such as food, water, and shelter.
- 21. resources: The business function that handles all aspects relate to the workforce, involving all aspects of a firm's operations related to staff (personnel) within an organization.
- 24. These are the firm's clients, individuals, and other businesses who purchase the organization's goods and/or services. Their interests include competitive prices, fit-for-purpose products, and overall value for money.
- 25. sector: Business activity that involves providing services to customers, i.e. consumers and business clients.
- 28. sector: Business activity involving the creation or sharing of knowledge and information.
- 29. liability: The legal status of a business that shields its shareholders from being personally liable for more than their original investment. If a shareholder invests $10,000 in a limited liability company and the company faces debts, the shareholder's personal assets are protected beyond their initial investment.
- 31. Moral guidelines or codes of practice that govern good organizational behavior.