Overall Business
Selling products and services between two businesses, rather than to a consumer
What is B2B
a financial statement that summarizes a firm's financial position at a specific point
in time
*think accounting equation
*bonus points if you give the accounting equation
What is the balance sheet
(A = L + E)
used by a company to explain, in simple and concise terms, its purpose(s) for being (existing)
*prominent focus on the "what?" and the "how?" a company is going to accomplish their vision
a computer application that enables a user to save, sort, and manage data in an arranged set of rows and columns
What is a spreadsheet
Arabela studied abroad here
the unique benefit that a company provides customers who buy their goods or services
What is a Value Proposition
Anyone involved with or affected by an organization ex) customers, community members, employees, suppliers, etc.
What is a Stakeholder
the process of assessing the organization's progress toward accomplishing its goals *includes monitoring the implementation of a plan and correcting deviations from the plan
systems that allow users to leverage technology, information, and people to further organizational goals
What is information systems
This color was Esthers impact camp
To maximize the value of the firm to its owners
What is the traditional purpose of a business
a unique abbreviation used to identify the shares of a publicly traded company
What is a ticker symbol
the process of separating, identifying, and evaluating the layers of a market in order to determine a target market for your firm to operate within
the coordination across the supply chain involving the flow of goods, services, people, facilities, or supplies
What is logistics
The fun thing Arabela did this summer
Any answer right:
- ordered my ring
- banana ball
- beach
data that has been processed, interpreted, organized, structured, or presented in a way that makes it meaningful or usefu
What is information
expenses directly related to the buying or producing of a firm's goods or services
What is COGS
What is the marketing mix
(Not in "what is" form sorry :()
1) product 2) price 3) promotion 4) place (distribution)
Optional 5th P (people)
a computerized resource-planning system that incorporates information about the firm's suppliers and customers with its internally generated data
What is an enterprise resource planning system (ERP)
Esthers favorite condiment
what is RANCH
What are the 6 functional areas of business? (Not in "what is" form sorry :()
1) accounting 2) finance 3) management 4) management information systems 5) marketing 6) supply chain management
the process of reviewing the records used to prepare financial statements and issuing a formal opinion indicating whether the statements have been prepared in accordance with GAAP (the generally accepted accounting principles)
What is auditing
four primary functions of managers
1) planning 2) organizing 3) leading 4) controlling
the action of obtaining equipment or supplies for a business
What is procurement
Esther and Arabela's celeb crush
who is Glenn Powell