Business Admin
What comes after onboarding?
Retention
What are the three financial statements?
What is an example of a sales promotion?
giving out coupons or vouchers, temporarily reducing prices through discounts, sampling, offering giveaways, flash sales or buy-one-get-one-free offers, and lots more.
What does MVP stand for? What does it mean?
Minimum viable product,
Allows organizations to test market demand for their product
Discovering if potential users need and will use the product
Requires less money
What are the 5 C's of event management?
concept, coordination, control, culmination, closeout
What is the goal of development?
Helping employees get better in their roles through a variety of initiatives.
What does the income statement show?
profitability of a company under accrual accounting rules
What is the most expensive form of promotion?
Direct marketing or personal selling because it requires promoting your product/service to one person
What is blue ocean versus red ocean?
Blue ocean is a new industry whereas red ocean is in a contested market space
What are the five questions for figuring out the concept?
Why are you planning this event? Who is the event targeted to? What is the event? Where and when will the event happen?
Why is separation a necessary part of the process?
just explain
What do cash flow statements show?
cash movements based on operating, investing, and financing activities
How does PR impact branding?
just defend it with evidence
PR establishes brand credibility and presents it in the best possible light. A business can flourish only on the foundation of a strong network and PR is the key to build such quality networks.
What are the three types of prototypes?
physical, digital, service
Why is control important?
It allows for backup plans and preparing for the worst case scenario
What are the 6 steps of the employee life cycle?
attraction, recruitment, onboarding, retention, development, separation
What do balance sheets include?
assets, liabilities, shareholders' equity at a particular point in time
What are the types of promotions?
Direct marketing
Sales promotion
Personal selling
Advertising
Public relations
What are the four types of customer segmentation?
Demographic, behavioral, geographic, need-based
Why is closeout important?
Allows you to review the event, build connections, and grow from it
What is the most important step of the employee lifecycle?
Google says retention cause it makes employees stick, up to you just defend it adequately
What is the most important financial statement?
Cash flow is generally accepted as the right answer, but anything works if you can defend it
What is the most valuable type of promotion?
defendddd
What is the most important step of the entrepreneurial process?
defend your answer, but having a necessity for your product or an effective solution
What is the most important C of event management?
Culmination, but anything works just defend it