One
"doing business as"
what is DBA?
a map of how you will run your business successfully
what is a business plan?
People in business careers often need good interpersonal written and oral _____ skills.
communication?
a person who organizes and manages any enterprise, especially a business, usually with considerable initiative and risk.
what is an entrepreneur?
When two companies combine to form a new company it is called a(n):
what is a merger?
part of the business plan that highlights the strength of your overall plan
what is an executive summary?
A ________ is owned and managed by a group of individuals who share in decision-making and risk.
what is a partnership?
assume that profits, liability, and management duties are divided equally among partners
what is a general partnership?
The most common form of business ownership in the U.S. is a:
what is a sole proprietorship?
Financial advisors help people make _____ decisions.
what is investment?
________ is the income that a business owner retains after paying all the expenses associated with the operation of the business
what is profit?
BMG 140, Inc. identified their main competing products, services and market segments. This is an example of a ________ ?
what is a competitive analysis?
Operations is a functional area of business that converts _____ to _____.
inputs to outputs?
business entity that incurs double taxation
what is corporation?
allows partners to have limited liability as well as limited input with management decisions
what is a limited partnership?
The process of creating customers, the lifeblood of your business
what is marketing?
This covers how you plan to actually sell your product.
what is a sales strategy?
part of the executive summary and explains what your business is all about
what is a mission statement?
In 2005, Skype, a company for making internet phone calls, was purchased by eBay for $2.6B. This is an example of a(n):
what is acquisition?
A ________ is a legal entity completely separate from the entities who own it.
what is a corporation?
“3B’s - Bigger, Better Burger” hamburger fast food restaurants merge with a large potato farm “Potters Potatoes.” 3B’s is now looking forward to having a fresh, reliable supply of potatoes for its fries along with a farm offering fair prices and which is now under the direction of the same company leadership. Potters Potatoes is happy to steadily supply its potatoes to 3B and not have its potatoes go unused. This is an example of:
what is a vertical merger?
business entity with profits and losses are allowed to pass through to your personal tax return
what is an "S" corporation?
corporations offer the ability to sell ownership shares in the business through stock offerings
what is an initial public offering?
You are thinking about starting a business. Of course, you want to maximize your income and not pay taxes both as a business and as an individual. You are also concerned about liability. If something bad happens with your business, you don’t want to be personally liable. What form of business ownership would best meet your needs?
what is a limited liability company?
________ is the relationship between the price a customer pays for the good or service and perceived benefits the customer receives
what is VALUE?