Vocabulary
What are incorporation fees?
Cost required to re
What is a trademark?
Sign, symbol, word, phrase or design that represents a business or its products. Products brands products and identity from being used by others.
SWOT analysis?
Analyzes companies' strength, weaknesses, opportunities, and threats.
Trends: Long-term changes
Fads: Temporary or short-term changes
What are the responsibilities of the CEO?
Chief executive officer. Responsible for the overall performance of the company.
What is employee turnover?
Total number of workers who leave a company
What is social responsibility?
Businesses obligation to act in a way that benefits society and the environment.
B2B
Business-to-business
Primary vs Secondary research
Primary: First-hand data gathered by the researcher
Secondary: Obtained from results of other's research
Who are the board of directors?
Group of individuals elected by a firms shareholders. They set strategies and oversee management of the company.
What is excise tax, what is it charged on?
Used on specific goods, fees that must be paid to consume certain products. Used on alcohol, fuel and tobacco.
What are capital goods?
Physical assets used by companies to PRODUCE goods and services - not consumed
B2C
Business-to-consumer
Direct vs Indirect channels of distribution
Direct: Selling products directly to consumer
Indirect: Goes through intermediaries (supplies, wholesalers, retailers etc.) before reaching final consumer
What does contracting a product mean?
Removing or deleting product items or lines from the product mix
What is corporate governance?
System of rules, practices and processes which companies are directed and controlled by
What does it mean if someone has aptitude?
Natural ability to do something. Can be considered as a "talent" or "skill"
Marketing mix (4P's)
Product, place, price, promotion
Push vs Pull strategy
Push: Pushes product or service towards customers - relies on personal selling and sales promotion
Pull: Attracts consumers to a product or serivce - relies on advertisments, premiums and samples
What is a continuity plan?
Strategies to deal with potential shutdowns or threats to business operations.
What are business torts?
Wrongful actions against a business that cause harm in some way
What are touchpoints?
Interactions between a customer and a company. The goal is to reinforce that a customer is making the right buying decision
SMART goals?
Specific, measurable, achievable, relevant, time-bound
Public vs Private corporation
Public: Shares of the company are available for the public to purchase on the stock exchange
Private: Shares are not listed for sale exchange
What does it mean when someone is whistleblowing?
When employees report unsafe, illegal or unethical practices within the workplace