Entrepreneurship
Job Application
Form that gathers information about potential employees.
Nonverbal Cues
Form of communication without using words.
Budget
Plan to manage finances.
Stereotype
A standardized conception or image held in common by a group of people.
Supply
Amount of an item producers are willing to produce and sell at a given price.
Networking
A way for business people to meet others and build a list of contacts.
Customer Service Mindset
The belief that the customer is the most important priority of the business.
Capital
Resources that include money, buildings, or equipment that are used to run a business.
Non-Price Competition
Businesses focus on factors other than price—like quality, customer service, branding, or convenience.
Asset
All items that have a cash value that are owned by the business are known as assets
Franchise
A business model where an individual or company pays for the right to operate under the name, branding, and business system of an established company.
Gross Sales
The total of all sales during a given period.
Deductions
An amount that is or may be deducted from something, especially from taxable income or tax to be paid.
Brand Promise
A statement that lets the customer know what they can expect from a company’s products/services.
Gross Domestic Product
A measure of the total output of goods and services that are produced by a country.
Trade Show
A place where businesses can show their products to potential clients.
Operations
Include the day-to-day running of the business, which may include scheduling, logistics, facilities management, etc.
Dividends
The cash payment of profits from a corporation to its shareholders.
Executive Summary
An introduction and overview of the information contained in a written plan.
Economic Resources
Known as factors of production (Land, Labor, and Capital), include all the items that are used to produce goods and services.
Sole Proprietorship
Business that is owned by single owner that provides the money and skill to run the business.
OSHA
The Occupational Safety & Health Administration is a government body that provides and enforces safety guidelines for the workplace.
The Federal Insurance Contributions Act (FICA) tax
Is a United States payroll (or employment) tax imposed by the federal government on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased
Economic Utilities
Refer to the concept of adding value to a product through form, place, time, possession, and information.
Administrative Law
Includes rules and procedures that are regulated by a government agency.