Business Dictionary

Business Dictionary #1

Sometimes when you are searching on a online store you might see so many words
that you don't know what they really means.Maybe you can imagine what i could mean
but is that its really meaning?
Well,UpperClass Business compromise to share a number of business words that everyone should
know.Whether you are a business owner or a buyer.This is our first post and we shall start  with some easy words that are also important to know.As we keep going we will post more difficult words and its meaning

Business Words

Talk like a Executive

Business - An organization or economic system where goods and services are exchanged for one another or for money. Every business requires some form of investment and enough customers to whom its output can be sold on a consistent basis in order to make a profit Businesses can be privately owned, not-for-profit or state-owned. An example of a corporate business is PepsiCo, while a mom-and-pop catering business is a private enterprise

Management -1.The organization and coordination of the activities of a business in order to achieve defined objectives.Management is often included as a factor of production along with machines, materials, and money.

2.The directors and managers who have the power and responsibility to make and oversee an enterprise.
decisions The size of management can range from one person in a small organization to hundreds or thousands of managers in multinational companies. In large organizations, the board of directors defines the policy which is then carried out by the chief executive officer, or CEO. Some people agree that in order to evaluate a company's current and future worth, the most important factors are the quality and experience of the managers.

 Marketing -The management process through which goods and services move from concept to the customer. It includes the coordination of four elements called the 4 P's of marketing:
(1) identification, selection and development of a product,
(2) determination of its price,
(3) selection of a distribution channel to reach the customer's place, and
(4) development and implementation of a promotional strategy.

UpperClass Business is Sole Partnership.What a sole partnership means,and all the other types of partnership that do exist will be post on the #2 business dictionary blog

Business Words

Talk like a Executive

 Business Dictionary #2

 

Partnership - A type of business organization in which two or more individuals pool money, skills, and other resources, and share profit and loss in accordance with terms of the partnership agreement. In absence of such agreement, a partnership is assumed to exit where the participants in an enterprise agree to share the associated risks and rewards proportionately .

Sole Partnership/Proprietor - Sole owner of a business; a self-employed person such as a grocer, plumber, or taxi driver. He or she directs the affairs of the enterprise, bears its risks and losses, and takes the profits and benefits. Also called sole trader.

c/o- Care of. An abbreviation that is used to direct correspondence to a particular place. It is typically used for an addressee who is not at the usual place where he or she would receive correspondence.

Group- A collection of individuals who have regular contact and frequent interaction, mutual influence, common feeling of camaraderie, and who work together to achieve a common set of goals.

Corporation- Firm that meets certain legal requirements to be recognized as having a legal existence, as an entity separate and distinct from its owners. Corporations are owned by their stockholders (shareholders) who share in profits and losses generated through the firm's operations, and have three distinct characteristics (1) Legal existence: a firm can (like a person) buy, sell, own, enter into a contract, and sue other persons and firms, and be sued by them. It can do good and be rewarded, and can commit offence and be punished. (2) Limited liability: a firm and its owners are limited in their liability to the creditors and other obligors only up to the resources of the firm, unless the owners give personal-guaranties. (3) Continuity of existence: a firm can live beyond the life spans and capacity of its owners, because its ownership can be transferred through a sale or gift of shares.

2. Municipal authority of a town or city.

3. A very large, usually diversified, firm

Incorporated Business-An enterprise that has gone through the formal legal process of becoming a corporation. The laws governing how to form an incorporated business are different in each country, and in the United States, the individual states determine their incorporation regulations and a company needs to select a state in which to file its incorporation documents.