Operations
management in a retail business involves overseeing, designing, and controlling the processes involved in the production and delivery of goods and services.
operations
Paid communication by a company
advertising
One owner, unlimited liability
sole proprietorship
Revenue - expenses = Profit is demonstrated on the
Income statement
SWOT analysis stands for
strengths, weaknesses, opportunities, and threats
the book inventory is called the ____________ inventory
perpetual
promotion that is free/both positive and negative
publicity
Two owners, unlimited liability
partnership
Shows what a company owes versus what it owes
balance sheet
A marketing plan includes details about
product, price, place, and promotion
the actual inventory that you have on hand is called the ____________ inventory
physical
planned, personalized communication
personal selling
pass-through taxation of a partnership with the limited liability of a corporation
LLC (limited liability company)
Shows cash inflows and outflows
cash flow
The biggest obstacle in forming a franchise is normally?
high start-up cost
Managing the transportation and storage of goods.
Logistics
when a social media visitor shares your post it is called
earned media
To qaulifiy, a company must have 100 or fewer shareholders and adhere to a number of other government policies.
S corp
Financial statements completed in advance
pro-forma
the part of the business plan that appears first but is done last
executive summary
Sourcing and purchasing goods from suppliers.
procurement
short-term event created to draw in foot traffic and sales
sales promotion
Best legal structure for international business
C corp
With ______accounting, sales and expenses are recorded when they occur.
Accrual
Franchisees need to pay these to franchisors
royalty fees