Sophia's In Business

3. items of value
5. when a business owner is personally responsible for all the debts of his or her business
7. when a business modifies their marketing strategies
8. the development of long-term relationships with individual customers
11. where the borrower offers an asset as security for the loan
14. an incorporated business with between two and fifty private shareholders
15. methods used by by a business to inform, persuade and remind customers about its products
17. a person who influences others
18. a business owned and operated by between two and twenty people
19. the process of creating a new or significantly improved product, service or process (way of doing something)
21. a paid, non-personal message communicated through a mass medium
22. funds contributed by the business owner(s)
23. the inclusion of advertising in entertainment
24. where the borrower does not need to have an asset to offer as security, but the interest rate is usually higher

1. the ability of a business to pay its short-term debts on time
2. money owing to external sources;e.g. a bank
4. the use of activities or materials as direct inducements to customers
6. something an entrepreneur can see as an avenue to success
9. standards that define what is acceptable and unacceptable behaviour; it is concerned with what is morally right or wrong
10. the clear, shared sense of direction that allows people to achieve a common goal
12. refers to rivalry among business that try to supply the needs and wants of a market
13. when a business uses the same marketing strategies in all markets
15. any free news story about a business
16. population characteristics that affect customer spending which include: age, ethnicity, gender, marital status, family size and income
20. the group of customers to whom a business intends to sell its products