SS Vocab

The process by which people and economies around the world are becoming increasingly interconnected.

• Globalization

• Isolationism

• Nationalism

• Protectionism

The state or right of owning a business or holding property.

• Proprietorship

• Ownership

• Partnership

• Tenancy

a business practice in which work that was once done within a company is sent to outside contractors

• Outsourcing

• Insourcing

• Offshoring

• Subcontracting

relocating work and jobs to another country  

• Outsourcing

• Off shoring

• Nearshoring

• Onshoring

The state of being legally responsible for something.  

• Liability

• Responsibility

• Accountability

• Obligation

the portion of the population that has paid work or is seeking work.

• Labor Force

• Employment Sector

• Workforce Participation

• Job Market

a business owned by shareholders who have limited liability for the firm’s debt

• Partnership

• Sole Proprietorship

• Corporation

• Limited Liability Company

An employee within a company who uses entrepreneurial skills to innovate and drive new projects or ideas, with the support of the organization.

• Entrepreneur

• Intrapreneur

• Freelancer

• Consultant

An individual who starts and runs their own business, taking on financial risks in hopes of earning a profit.

• Entrepreneur

• Investor

• Employee

• Manager

the highest-ranking person in charge of managing a corporation

• Chief executive officer

• Chief financial officer

• Chief operating officer

• Chief marketing officer