Marketing
Personal Selling is commonly used today in:
1. Wholesale
2. Industry Sales
3. Door to door selling
4. Advertising
3. Door-to-door selling
A benefit to opening a franchise business rather than starting a unique business is ...
1. No competition
2. High profits
3. Brand recognition
4. Negligible initial costs
3. Brand recognition
What is NOT typically an insurable risk for business?
1. Business Liability
2. Fire
3. Workers Compensation
4. Business Interruption
5. Lack of Sales
5. Lack of sales
What is the Financial Statement that displays Assets, Liabilities, and Owner's Equity?
Balance Sheet
This type of risk involves changes in a foreign government’s policies that might affect a business’s operations or profitability.
political risk
What is Marketing Mix?
Product, Price, Promotion, Placement
Which of the following appears first in a business plan?
1. Management Description
2. Request for Funding
3. Executive Summary
4. Company Profile
3. Executive Summary
this financial statement provides a snapshot of a company’s assets, liabilities, and equity at a specific point in time.
balance sheet
Which of the following is NOT included in a financial plan
1. Initial Capitalization Plan
2. Projected Income Statement
3. Projected Operating System
4. Pricing Policy
5. Cash Flow Projection
4. Pricing Policy
The point where Demand curve and Supply curve intersect is known as...
Equilibrium
What does SWOT stand for?
Strengths, Weaknesses, Opportunities, & Threats
This type of manager is responsible for overseeing the day-to-day operations of a specific department or team.
supervisory manager or first-line manager
What is a MVP?
Minimum Viable Product; the initial/basic version of a product that is launched in order to validate the business idea
What is ROI
Return on Investment
Give an example of a foreign direct investment that a business can conduct.
Open-ended
A marketing strategy that targets a distinct and specific segment of consumers that share unique characteristics/needs
Niche Marketing/targeting a Niche Market
What is a whistleblower?
An employee that publicly reveals information about a private organization/company that they deem is unethical/illegal
Describe the Matrix Organizational Structure
A company structure where teams report to multiple leaders/managers
Define Venture Capital?
Money, resources, and manpower provided to start-ups by investors, known as Venture Capitalists (VC's).
What is the main function of the World Trade Organization (WTO)?
To regulate trade amongst nations
The process of separating potential buyers/customers into groups based off their common characteristics or needs is?
Market Segmentation
List all of the needs in Maslow's Hierarchy of Needs
From bottom to top: Physiological, Safety, Social/Belonging, Esteem, and Self-actualization
What does it mean to pivot a business/venture?
The process of changing the overall direction of your business, when the current strategy is not offering desired results.
If you invest $1,000 in a savings account at a 7% simple annual interest rate or in a stock portfolio at a 4% annual compound interest rate, which option will yield more after 5 years, and why?
The second option
Explain the term Globalization in an economic sense
Globalization is the interconnectedness and interdependence of economies and countries around the world through cross-border trading, technology, etc.