Marketing
A question that encourages the consumer to respond with more than a "Yes" or "No" answer
Open-Ended Question
The process of creating and changing the information about a company’s catalog of offerings.
Product Service/Management
The four functions of management include: planning, organizing, leading and controlling
Management Functions
The probability of harm due to human actions or choices.
Human Risk
To propose a business idea, usually with the goal of obtaining a contract or funding
Pitch
The projection of future sales
Sales Forecast
The costs or benefits that a particular event, policy change or situation has on the economy
Economic Impact
A cost that a business has incurred, but cannot recover.
Sunk Cost
Awareness or familiarity gained by experience of a fact or situation
A risky project or business idea
Venture
Information in an unorganized form that have a relationship with current conditions, ideas or knowledge
Data
Jobs or tasks consisting of one or more elements performed typically in one location.
Operations
A process to determine the cost of production or operation of a business by assigning expenses to various stages of production or operations of a firm.
Costing
Project management is using knowledge, skills and techniques to execute a temporary group activity designed to develop a product, service or outcome both effectively and efficiently.
Project Management
A strategy in which an entity sets aside a sum as a protection against a probable loss, instead of transferring the risk by purchasing an insurance policy
Value Proposition
The stages that a product goes through in its life: Introduction, Growth, Maturity and Decline
Product Life Cycle
Technique of offering two or more complementary goods or services together as a package deal. Bundled items are sold at a price attractively lower than the total of their individual selling prices
Product Bundling
Used when a business anticipates risk and refrains from certain business activities in order to avoid the risk.
Risk Avoidance
Accounting, design, maintenance, printing, and supply of temporary personnel, etc., provided by specialized firms to other firms
Business Services
When two companies join together to become one company. Usually, a merger happens when both companies dissolve and form a brand new entity, although they could also just rename one company to include both
Merger
A method used to measure satisfaction on a scale and the responent is asked to circle a number where 0 is neutral and one moves outwards from it towards the extremes of goodness and badness
Systematic Differential Scale
The combination of advertising, personal selling, sales promotion and public relations used to accomplish an overall marketing strategy.
Promotional Mix
Combining assets, equity, liabilities and operating accounts of a business and its subsidiaries into one financial statement OR combining two or more businesses through the purchase, merger or ownership transfer to create a new business
Consolidation
A strategy in which an entity sets aside a sum as a protection against a probable loss, instead of transferring the risk by purchasing an insurance policy
Risk Retention
Individuals who back emerging entrepreneurial ventures, usually as a bridge to get from the self-funded stage to the level of business that would both need and attract venture capital
Angel Investors