Borborygmus
Deeply ingrained principles that guide all of a company's actions; they serve as its cultural cornerstones.
Core Values
Examples: Materials, Ingredients, Shipping
What are variable costs?
Choosing one thing over another where potential benefits are lost
What is Opportunity Cost?
Defines your company, it’s values, and it’s goals. The future.
What is a Vision Statement?
A mnemonic device to establish criteria for effective goal-setting and objective development.
What is a SMART goal?
The Marketing Plan includes the four Ps.
Price, Product, Place, Promotion
When costs are greater than revenue
What is a Loss?
a strategic planning framework used to evaluate an organization's or project's competitive position by identifying its internal Strengths and Weaknesses, along with external Opportunities and Threats
What is a SWOT analysis?
Respondents rate something on a scale (often 1–5)
Ex: How important is price?
What is a Likert Scale?
Information collected directly from your survey (firsthand)
What is Primary Data?
a profit & loss statement; a key financial report that shows a company’s revenues, expenses, and net income or loss over a specific period, such as a month, quarter, or year.
Income Statement
a business or activity has earned exactly enough revenue to cover its total costs, resulting in zero net profit or loss.
Breakeven
Questions with limited answer choices (MC or yes/no)
What is Closed ended questions
What it costs to MAKE the product - "Every time you make one more… this goes up”
COGS
Money coming IN from customers
What is Revenue?
(Gross Profit) − (Expenses) =
Net Income (Profit)
- What it costs to RUN the business.
- rent, ads, wages
- "These don’t change every time you make one more”
Operating Expenses
(Revenue) − (COGS) =
Gross Profit
a specific group of consumers most likely to purchase a company’s goods or services, identified by sharing characteristics like demographics, location, psychographics, and buying behavior.
What is a Target Market?
1. Define the Problem - 2. Gather Information - 3. Consider Your Options - 4. Make a Decision - 5. Reflect on your Choice
What is the Decision Making Process?
Countries Represented at Burr & Burton Academy by International Students.
Come within 3.
What is 12?
inquiries that cannot be answered with a simple "yes," "no," or one-word response, requiring instead a full answer that encourages deep thought, elaboration, and insight
What is an Open-Ended Question?
Burr & Burton teams that compete for State Titles.
Come within 6.
What is 35?
the gathering and interpretation of data about consumers, competitors, and market dynamics to reduce business risk and inform decisions.
What is Market Research?
16-year-old New Zealander Sam Ruthe holds the record for the fastest mile by a teenager, running on January 31, 2026. He ran it this fast. Come with 20 seconds.
What is 3:48.88 minutes?
(228.88 seconds)