Business Basics
Resources owned by a business with economic value.
What are Assets?
A specific group of customers a business aims to serve.
What is a Target Market?
A financial plan that helps individuals allocate income to expenses, savings, and investments.
What is Budgeting?
Software used for creating and editing text documents, such as Microsoft Word.
What is a Word Processor?
The act of presenting yourself effectively to potential employers during an interview.
What is Job Interviewing?
The percentage of revenue remaining after all expenses are deducted.
What is Profit Margin?
The four key elements of marketing: Product, Price, Place, and Promotion.
What are the 4Ps of Marketing?
A numerical measure of an individual’s creditworthiness.
What is a Credit Score?
The location of a cell in a spreadsheet, identified by its column letter and row number.
What is a Cell Reference?
Principles and regulations enacted by governments to address societal issues.
What is Public Policy?
Financial obligations or debts a company owes are referred to as this.
What are Liabilities?
A management style encouraging input from employees to make decisions.
What is Democratic Leadership?
Interest calculated on both the principal and previously earned interest is called this.
What is Compound Interest?
Protecting systems and data from unauthorized access or cyberattacks.
What is Cybersecurity?
A hands-off management approach allowing employees autonomy.
What is Laissez-faire Leadership?
A document outlining a company’s goals, strategies, and financial projections.
What is a Business Plan?
A technique that engages customers through memorable, interactive experiences.
What is Experiential Marketing?
Spreading investments across various assets to reduce risk is known as this.
What is Diversification?
A security system that monitors and controls incoming and outgoing network traffic.
What is a Firewall?
Planning and executing events such as conferences, weddings, or festivals.
What is Event Management?
A financial plan used for allocating resources, tracking income, and managing expenses.
What is a Budget?
The process of analyzing strengths, weaknesses, opportunities, and threats in business.
What is a SWOT Analysis?
The total income before deductions such as taxes.
What is Gross Income?
A marketplace for buying, selling, and trading raw materials or agricultural products.
What is a Commodity Market?
The practice of marketing yourself and your career as a brand.
What is Personal Branding?