Money Moves
A business estimates future income and expenses.
operating budget
What do businesses conduct to learn what customers want?
Market Research
What process introduces new employees to a company?
Employee Orientation
What skill involves recognizing a business opportunity?
Opportunity Recognition
What tracks products a business has available for sale?
Inventory
Which statement shows revenue, expenses, and profit or loss?
income statement
What is the specific group of customers a business targets?
Target Market
What HR activity involves finding employees for open positions?
Hiring
What document describes a business's goals, market, operations, and finances?
Business Plan
What provides written instructions for routine business tasks?
Operating Procedures
What tracks money coming into and leaving a business?
cash flow
What marketing decision determines how much customers pay?
Pricing
What establishes measurable expectations for employees?
Performance Standards
What should an entrepreneur conduct before entering an unfamiliar industry?
Research / Market Research
What manages the movement of products from suppliers to customers?
Supply Chain
What is obtaining money to fund a business called?
Financing
What should a business improve when customers complain about employee interactions?
Customer Service
What measures how efficiently resources are being used?
Productivity
What analysis compares the current situation with a desired situation?
Gap Analysis
What external factor can force a business to change its operations?
Government Regulation
Revenue is greater than expenses. What is the result?
Profit
What involves developing new ways to solve customer problems?
Innovation
What should a business investigate when employees cannot handle their workload?
Staffing/Workforce Needs
What should an entrepreneur investigate before investing heavily in a new product?
Market Research
What measures how efficiently a business uses its resources?
Productivity