Marketing
What is marketing?
Activities used to promote a product and/or a service.
What is entrepreneurship?
When an individual who has an idea acts on that idea, usually to disrupt the current market with a new product or service.
What is Human Resources & Management?
Two functions that work together to ensure the company runs smoothly, while overseeing resources to achieve organizational goals.
What is finance/accounting?
The management of business funds/profits.
What is a way to promote a product and/or service?
Online Marketing (social media)
What are the qualities of a good entrepreneur?
Passion, Creativity, Curiosity Motivation, Creativity, Risk Taker
What leadership style focuses on giving employees the freedom to work independently while providing guidance when needed?
Democratic Leadership
Provide one reason for the importance of finance & accounting.
- Plan the future of the business by analyzing past financial patterns.
- Make investments, cut costs, and save money.
- Manage and budget resources.
- Ensure cash obligations are met (debt, taxes, etc.)
- Oversee and overcome any potential risks.
Increase in Sales = ?
Increase in Revenue
This term refers to money invested in a new business, often in exchange for ownership or equity?
Venture Capital.
When providing feedback, this type focuses on reinforcing positive behaviors rather than focusing solely on areas of weakness?
Positive Feedback
What is an example of a business’s cash obligations?
Debt or Taxes
What are some marketing strategies?
Email Marketing, Social Media Marketing, Content Marketing, Collabs w/ Famous Celebs, etc.
This type of business is owned and operated by one person, and it is the simplest form of business ownership.?
Sole Proprietorship
What management activity involves tracking progress against goals, identifying challenges, and adjusting strategies to stay on course?
Monitoring and Evaluating Progress
What are three examples of accounting documents?
- Receipts
- Trial Balances
- Ledgers
- Income Statements.
Provide three goals in marketing.
- Increase sales and generate exceeding revenue
- Standing out from competitors and the overall market
- Using effective techniques to build brand and customer awareness
- Communicate a clear message
- Develop long-term status (become well-known )
This is the money needed to start a business, like from savings, a loan, or investors...
Startup Capital
HR supports employee growth by offering opportunities like workshops, courses, and mentorship programs?
Aid required training development
What’s the purpose of a budget?
- To establish wants and needs.
- To cut unnecessary expenses and to allocate your money properly