ACTIVITY ONE

GETTING READY FOR

BUSINESS

Isabel Lpez
A01207425
Ana Sofa Magallanes
A01207478
Monserratt Leal
A01194641

WHAT IS BUSINESS?

We define business as being a

medium to offer or selling a
product or service.

 Manufacturing processes: is the mixing of goods

following instructions. The goods can be food, plastics,
pharmaceuticals and drinks.
Brand: the image of a product created by image, words,
design and/or symbols that differentiates a product from
others. This image over time is associate with other
things like: credibility, quality, positioning, etc.
Market: place (virtual or physic) where goods or
services are exchanged for money or other good or
service. Here demand and supply operates and in a
market the price, information and distribution of a
product is determined.
Franchise: a privilege a business has to sell a good or
service under certain patented process or name.
Input: an external object or process that is transformed
to become an output.
Output: product resulting of all the work, energy goods
or services after certain period of time.

 Transforming resources: is the item where

raw materials are transformed into a product.
This can be a building, machine, business,
hardware or software.
Transformed resources: raw materials used
to create a final product
Product: the result of a process that supply a
necessity or a wanted item. A product can be a
good, service, process, idea, object, etc.
Quality Standards: a system that ensures the
proper maintenance of a product
Packaging: Packaging is used for marketing
because it has to attract the consumer plus
include important information about the product
Investment: Money committed or property
acquired for future income
Income: The cash-equivalents received from
work, salary
Reprocess: Treatment of material reclaimed
from the resedues or left overs to make new
material or products.
Statistical process control methods:
methods and procedures (such as charts) to
analyze the variability of a process or its results
to achieve and maintain a state of statistical

 Continuous flow production: Refers to the process of creating large

numbers of similar products efficiently. Is typically characterized by
some type of mechanization, to achieve high volume.
Customer: An individual or business that buy the goods or services
produced by a business. The customer is the end goal of businesses,
since it is the customer who pays for supply and creates demand.
Retailer: A business or person that sells goods to the consumer, who
normally sell their goods to another business.
Raw materials: Basic substance in its natural, modified, or semiprocessed state, used as an input to a production process for
subsequent modification or transformation into a finished good.
Demand: the desire of people to buy certain product
Supply chain network:

SOURCES
Difference Between Transformed Resources and
Transforming Resources. (2011). Retrieved January 13,
2016, from
http://www.differencebetween.com/difference-betweentransformed-resources-and-vs-transforming-resources
/
More articles. (n.d.). Retrieved January 13, 2016, from
http://www.businessdictionary.com/

TASK DISTRIBUTION
Wednesday, January 13, 2016
Isabel: First 10 definitions
Ana Sofa: Last 10 definitions
Monse: put everything together and add format