BUS 150 Lecture Notes - Lecture 1: Kentucky Educational Television, European Cooperation In Science And Technology
5 Oct 2015
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Business: any profit-seeking organization that provides goods & services designed to satisfy customer"s needs. : money that a company brings in through sales of goods : revenue services. (# of units x price = revenue) have been deducted from revenue, expenses, profit. : all the costs that are involved in doing this business. : money that is left over after all the costs involved in doing business. *optimize expenses spend money on the right things. Business model: a concise description of how a business intends to generate revenue; a clear, simple outline. Competitive advantage: an aspect of the product/company that makes it more appealing to target customers. Barrier to entry: any kind of resource/capability a company must have before it can start competing in any given market. Business mindset: view of business that considers myriad (a countless number) decisions and problems to deliver products to satisfy customer"s needs.
