Business Management & Administration
A formal plan outlining business goals.
Business plan
A person who starts a business.
Entrepreneuer
Money kept for future use.
Savings
A guest staying overnight at a hotel is called a ____.
Occupant
Research method that uses surveys or numbers.
Quantitative
Person responsible for overseeing employees.
Manager
A newly formed business venture.
Startup
A record of money earned and spent.
Budget
Strategy of raising prices when demand is high.
Yield management
Strategy focused on a specific, narrow customer group.
Niche marketing
Process of assigning tasks to others.
Delegation
Money provided to startups in exchange for equity.
Interest calculated on both principal and interest.
Compound interest
Travel demand created by business rather than leisure.
Corporate travel
Analysis tool comparing internal strengths and weaknesses with external factors.
SWOT Analysis
Chart showing company roles and hierarchy.
Organizational chart
Test version of a product (acronym).
MVP
Ownership shares in a company.
Stock
Strategy of raising prices when demand is high.
Yield management
Pricing tactic where consumers respond strongly to prices ending in .99.
Psychological pricing
Management approach focused on measurable results.
Management by objectives
Term for selling part of ownership in a company.
Equity financing
The present value of expected future cash flows (abbrev.).
NPV
Tourism focused on minimizing environmental impact.
Sustainable tourism
4 Ps of Marketing
Product, Price, Place, Promotion