The management process of forecasting an organization's
current and future staffing needs.
The practice of hiring people who already work for the firm
to fill a position, rather than recruiting someone new to the
gross national product (GNP):
Total value of all goods and services produced by a national
economy within a given period regardless of where the
factors of production are located.
Occurrence of widespread price increases throughout an
Total quantity of goods and services produced by an
economic system during a given period.
Focusing specifically on how a technological innovation
can be put to use in the making of a product or service that
can be sold in t
A company meets all of its legal and ethical
requirements, and in some cases even goes beyond
what is required.
A form of pollution affecting the eastern United
States and Canada as a result of sulphur expelled
into the ai
Condition in an economic system in which the
amount of money available and the quantity of
goods and services produced are growing at about
the same rate.
standard of living:
Total quantity and quality of goods and services that
a country's cit
A business whose stock is widely held and available for sale
to the general public.
An independently owned and managed business that does
not dominate its market.
Business owned and usually operated
The purchase of a company by another, larger firm,
which absorbs the smaller company into its
board of directors:
A group of individuals elected by a firm's
shareholders and charged with overseeing, and
taking legal responsibility
A business person who accepts both the risks and
the opportunities involved in creating and operating
a new business venture.
An arrangement that gives franchisees (buyers) the
right to sell the product of the franchiser (the sell
Members of a corporation's board of directors who are also
full-time employees of the corporation.
Investor liability is limited to their personal investments in
the corporation; courts cannot touch the personal assets