Business Administration
A type of business model that allows an individual to operate under a parent company’s brand and guidelines, often in exchange for fees and a share of the profits.
What is a Franchise?
Hotel employees wear this to lower their risk of inhaling fumes of cleaning chemicals.
What are masks?
The rivalry between organizations that offer the same or similar product or service as your own
What are competitors?
This type of account is typically used for day-to-day transactions, allowing deposits, withdrawals, and bill payments without earning significant interest.
What is a chequing account?
A symbol or quote legally registered that identifies a product or service from a particular source and distinguishes it from others
What is a trademark?
A written outline that evaluates all aspects of your business.
What is a Business Plan?
Focuses on the management, marketing and operations of restaurants and food services, lodging, attractions, recreation activities, and conventions.
What is the hospitality and tourism industry?
The 7 functions of marketing.
What are product, Price, place, promotion, process, people, process and physical evidence?
The profit gains from the sale of a capital asset.
What is Capital Gains?
An analysis that assesses a business's strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis?
The funds and assets invested in a business by the owners.
What is Capital?
Hotel chains give this to provide buyers or users with the flexibility to make reservations at their own convenience.
What are gift cards?
Company growth by increasing sales of current products to current market segments without changing the product
What is a Market Penetration?
A financial report that provides a summary of a company's revenues, expenses, and profits/losses over a given period of time
What is a Profit and Loss Statement?
The percentage of ownership in a company offered to investors during early funding rounds.
What is equity?
The belief/model that businesses have a greater duty to society than just providing jobs and making profits.
What is CSR (Corporate Social Responsibility)?
The type of order Sunset Airlines placed when they experienced a rare mechanical malfunction with one of its plane's engine and needs to purchase a new part.
What is a standard purchase order?
An operational document that outlines an advertising strategy that an organization will implement to generate leads and reach its target market
What is a marketing plan?
A type of debt-based investment, where an investor loans money to a government, in return for an agreed rate of interest and the principal amount at maturity.
What is a bond?
This type of funding is provided by private investors to early-stage companies in exchange for ownership equity.
What is venture capital?
Economic concept that the average cost of production decreases as a business expands
What is Law of Economies of Scale?
The top tier of Maslow's hierarchy of needs pyramid.
What is self-actualization?
The act of a corporation or business promoting the welfare of others, generally via charitable donations of funds or time.
What is Corporate philanthropy?
This is the amount a bondholder will receive at maturity, for a bond with a $5,000 face value and an annual interest rate of 6% after 5 years.
What is $5000?
This strategy involves a company working with a mix of direct and indirect distribution channels to maximize market coverage while avoiding channel conflict.
What is a dual distribution strategy?