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People in Business keywords - Coggle Diagram
People in Business
keywords
Entrepreneur
spots gap in market
takes personal & finacial risk
to make profit
Investor
invest in business
expects return on investment
gives entrepreneur capital
Interest Groups
common objective & viewpoint
represent groups
Competitive Relationship
win-lose relationship
one benefits at other's expense
Co-operative Relationship
work together to achieve common goal
win-win relationship
Legal Contract
formal agreement
2 or more people
enforceable by law
Employer
hires employees
pays them wage/ salary
Employee
return for wage
protected by law & sign contract
works for employer
Manager
arranges business's resources
makes decisions
run business
achieve entrepreneur's aims