Business structures
This business type treats the company as a separate legal entity from the owners to protect personal assets
An LLC
This analysis looks at strengths, weaknesses, opportunities, and threats.
A SWOT analysis.
The percentage or amount added to the wholesale cost of goods to determine the final selling price
Markup
This federal agency regulates and enforces workplace safety and health standards.
OSHA
What time of night did I create this Jeopardy game at?
12am pushing into 1am.
A business owned and operated by a single individual who assumes all financial liability
Sole Proprietorship
A specific group of consumers that a business aims to sell its products or services to.
Target Market.
Total revenue minus the total cost of goods sold before expenses are deducted
Gross profit
The department in a company responsible for hiring, training, and administering employee benefits.
Human resources. (HR)
Does Braden like giraffes?
Yes, yes he does.
This document outlines who owns what percentage of an LLC and how profits are handled
An Operating Agreement
The acronym "MAP" stands for this. It dictates the lowest price a retailer can advertise an item for
Minimum Advertised Price
Costs that do not change regardless of business sales volume, such as store rent
Fixed costs.
The complete goods or materials a business holds in stock to sell to customers.
Inventory.
What company sent Braden a flyer in the mail today?
Phantom fireworks. (Not a fan)
This free ID number from the IRS acts as a Social Security Number for a business
EIN (Employer Identification Number)
Michael Porter’s strategy that targets a narrow market segment with unique premium features.
Focused Differentiation
The specific point where a business's total revenues exactly equal to its total expenses.
The Break even point.
A short statement defining a company's current purpose, goals, and primary focus.
A mission statement.
How many ounces of coffee have I drank as of writing this question?
19 ounces total. Two bottles of 9.5 ounces each.
A strategic alliance where two or more parties agree to pool their resources for a specific task.
A Joint Venture
The four P's of marketing are product, price, place, and this...
Promotion.
ROI is an acronym for what? It's used to evaluate the efficiency of an investment
Return on investment.
Local laws established by a city or town hall that regulate how property can be used in specific areas.
Zoning laws.
What color is my car?
Brown.