Entrepreneurship
The document in which the entrepreneur summarizes her or his business strategy for the proposed new venture and how that strategy will be implemented
What is the Business Plan?
Strategy used to stimulate consumer purchases of goods or services
What is a Product Promotion?
A product that certain consumers will actively seek to purchase because of unique characteristics or loyalty to a specific brand.
What is a Specialty Product?
Meeting the needs of guests with kindness and goodwill
What is Hospitality?
The Emblem of Deca
What is a Diamond?
A share of ownership in a company
Any paid form of nonpersonal presentation of ideas, images, goods, or services
What is Advertising?
The practice of substituting an expected cost for an actual cost in the accounting records, and then periodically recording variances showing the difference between the expected and actual costs.
What is the Cost Standard?
The ease with which guests can enter, leave, and utilize a property also applies to the ability of guests in wheelchairs or needing other assistance to utilize a facility.
What is Accessibility?
The theme of DECA this year is
The analysis technique used by entrepreneurs to identify strengths, weaknesses, opportunities, and threats.
What is SWOT Analysis?
The combination of marketing communication channels that a business uses to send its messages to consumers
What is Promotional Mix?
A financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time
A restaurant in which customers are seated at big tables, give their orders to a server, and are served their food at the table.
What is a Full Service Restaurant?
The year DECA was established nationally
Converting assets into cash or cash equivalents by selling them on the open market
What is Liquidate?
A pricing strategy that involves setting prices higher than those of the competition
What is Price Skimming?
Money spent by a business or organization on acquiring or maintaining fixed assets, such as land, buildings, and equipment.
What are Capital Expenditures?
Ability to put yourself in someone else's shoes and know how that person feels
What is Empathy?
The four regions of DECA
What are Central, North Atlantic, Southern, Western?
The purchase of a company by another, larger firm, which absorbs the smaller company into its operations
What is Acquisition?
The profitability returned to the business based on funds spent on marketing
What is ROMI?
The fraudulent practice of sending emails purporting to be from reputable companies to induce individuals to reveal personal information, such as passwords and credit card numbers
What is Phishing?
Recommending additional products or services to a customer while that customer is buying something else.
What is Suggestive Selling?
Whos the WA President of DECA
Who is William Thai?