Terminology/ Definitions
Someone who starts, organizes, and assumes the risk of a business venture.
What is an Entrepreneur?
What type of software do many businesses require be installed on computer systems as a security feature? A. Firewall B. Reality C. Spider D. Media
What is a firewall?
The body, entity, invested with the power to manage a political unit, organization or more often, a State
What is the government?
The activity or business of promoting and selling products or services, including advertising.
What is marketing?
Any instance where a customer or potential customer interacts with a brand, product, or service
What is a touchpoint?
Gabrielle used to own the only bike shop in her neighborhood, but another shop just opened up down the
street. This competition is considered a
A. strength. B. weakness. C. opportunity. D. threat.
What is D. threat?
A financial institution that holds and lends money, facilitates transactions, and provides other financial services
What is a bank?
The day-to-day activities and processes that a company performs to create and deliver its products or services
What is Operations?
A sales-promotion technique in which a business returns part of the price that a customer pays for a good or service
What is a rebate?
Eddie is a small-business owner. Every year, he identifies potential problems that could harm his company and takes steps to prepare for them. In other words, Eddie conducts A. managerial accounting. B. a risk assessment. C. a financial calculation. D. entrepreneurship.
What is risk assessment?
An individual, group, or entity that owns one or more shares in a company, meaning they are a part-owner of that company.
What is a Shareholder?
A concise declaration that explains an organization's or individual's fundamental purpose, goals, and values
Mission Statement
An individual who provides capital for startups in exchange for equity or debt.
What is an Angel Investor?
Mike is thinking about expanding his manufacturing business internationally. Which of the following is a risk he might encounter: A. Encountering new markets B. Dealing with cultural and language barriers C. Dealing with fewer government regulations D. Saving money on taxes
A particular group of consumers at which a product or service is aimed.
What is a Target Market?
A legal document granted by a government that gives the inventor the exclusive right to make, use, or sell an invention for a limited period, typically 20 years
What is a patent?
A financial statement that shows a company's assets, liabilities, and net worth on a given date. Assets - Liabilities = Net Worth
What is a balance sheet?
Which of the following is a type of intangible property that businesses often establish policies to protect: A. Inventory methods B. Production systems C. Trade secrets D. Delivery routes
What is Trade Secrets?
The one who maintains order, focuses on schedules, and cares about operations, systems, and the people who work within them.
What is a manager?
Any financial or physical asset used to generate wealth, encompassing a company's cash, investments, and property
What is capital?