Business Basics
A person or group with an interest in a company’s success (e.g., employees, customers, investors).
What is a stakeholder?
The process of identifying and evaluating potential problems.
What is a risk assessment?
To sell goods or services to another country.
What is an export?
Comments or evaluations given to improve performance.
What is feedback?
The specific group a company aims its products or messages at.
What is a target audience?
A company controlled by a larger parent company.
What is a subsidiary?
The schedule of activities and deadlines for a project.
What is a time line?
To buy goods or services from another country.
What is an import?
Building professional relationships for business opportunities.
What is networking?
The image and personality a company projects to the public.
What is brand identity?
When two companies join to form one new organization.
What is a merger?
To assign a task or responsibility to someone else.
What is to delegate?
A tax placed on imported goods.
What is a tariff?
Openness and honesty in communication or business decisions.
What is transparency?
The process of gathering information about customers and competitors.
What is market research?
The percentage of revenue that remains after expenses.
What is a profit margin?
A key stage or checkpoint in a project’s timeline.
What is a milestone?
A developing country with rapid economic growth.
What is an emerging market?
The levels of authority within an organization.
What is a hierarchy?
The key benefit that makes a product or service attractive to customers.
What is a value proposition?
The total money a company earns before subtracting costs.
What is revenue?
A tangible result or product from a project (e.g., report, prototype).
What is a deliverable?
Restrictions placed on trade for political or economic reasons.
What is a trade sanction?
General agreement among a group.
What is consensus?
What makes a company stronger than its rivals.
What is competitive advantage?