Vocabulary
An agreement between an employee and a company outlining obligations and terms of employment.
What is a Contract?
Focuses on technology strategy and implementation
What is a CTO? Chief Technology Officer
An individual who aspires to start and run a successful business.
What is Entrepreneur?
A payment amount provided to employees for the number of hours they worked.
What is hourly pay?
Two or more individuals agree to share in the profits or losses of a business.
What is conflict of Partnership
The amount of financial gain from a business.
What is a Profit?
Responsible for developing and implementing the company's marketing strategy.
What is a CMO? Chief Marketing Officer
A document that addresses the concept, customers, and capital for a business.
What is a Business Plan?
A fixed payment amount provided to a full-time employee.
What is salary?
Focused on charitable, educational, or scientific purposes, not for profit.
What is non-profit
Goods a business owns with the purpose of selling.
What is inventory?
Oversees financial planning, budgeting, and risk management.
What is a CFO? Chief Financial Officer
A form of protection individuals can implement to protect their intellectual property. Copyright is designated for print, music, film, and various other forms of creative licenses.
What is Copyright?
The additional compensation, often calculated at higher for employees' who work beyond standard hours
What is overtime?
Combines the pass-through taxation of a partnership or sole proprietorship with limited liability of a corporation
What is a LLC (Limited Liability Company)
The possibility of something negative happening. In the context of a small business, the possibility of a loss of time and money.
What is Risk?
Manages day-to-day operations and ensure efficient business functions.
What is COO? Chief Operating Officer
A person or entity willing to provide monetary funds to a business with the hopes of earning a return on their money.
What is an investor?
A payment or incentivized reward added to an employee's compensation package.
What is bonuses?
The simplest form,where a single individual owns and operates the business,
What is Sole Proprietorship
The expenses incurred for running day-to-day tasks in a business.
What is operating cost?
The highest-ranking executive, responsible for the overall strategic direction and performance of the company.
What is CEO? Chief Executive Officer
A type of business structure with a single owner. The business is not shielded from any amount of liability.
What is a Trademark?
Employees receive them during a particular time, which varies according to the sales revenue or company profit.
What is commission?
A separate legal entity owned by shareholders
What is a Corporation