Intro to Business
What are four types of business ownership structures?
Sole proprietorship, partnership, corporation, cooperative, etc.
4 Ps
Product, price, place, promotion
Define revenue
The income generated from sales of goods or services.
Grab drivers work in the _____ economy
gig
What company makes the playstation
SONY
What does CSR stand for?
Corporate social responsibility
USP - What is it?
Unique selling point. How you differentiate from competition
Emma runs a small business selling handmade candles. Last month, she made $2,000 in total sales. Her expenses for making the candles, including materials and packaging, were $1,200. What was Emma's profit margin?
40%
Structure with few levels of hierarchy and promotes open decision-making
FLAT
Five companies known as FAANG
Facebook, amazon, apple, netflix, google
What is the difference between mission and vision statements?
Mission = Cuurent // Vision = Future
What is an example of a BTL marketing technique?
Targeted marketing
Explain what three things a balance sheet shows about a business.
assets, liabilities, and equity
Describe 360 degree feedback
employees receive evaluations from managers, peers, subordinates, and sometimes customers
What year was Airbnb founded?
2008
What are the four features of an Ansoff matrix?
market penetration, market development, product development, and diversification
When a company sets a high initial price for a new product to maximize profits from early adopters before gradually lowering the price.
Price skimming
What does “liquidity” mean in finance?
Liquidity refers to a company’s ability to meet its short-term obligations with its available assets
What is the third step on Maslow's hierarchy of human needs?
Love and belonging
What was Google’s original name?
backrub
What are the seven factors in a STEEPLE analysis?
Political, Economic, Social, Technological, Legal, Environmental, Ethical
Identify and define the four groups of products in the BCG matrix
stars, question marks, cash cows, dogs
market growth and market share
A company who wishes to determine the sales volume needed to cover costs may conduct a
break-even analysis
According to Herzberg's theory, working conditions and wages are ________ factors
Hygiene
What company today is the largest in terms of market capitalization?
Nvidia