Entrepreneurship

Site Selection

100

is a measure of a worker's production in a specific amount of time, such as an hour

productivity 

200

is performing a particular task within a larger process on a regular basis. 

specialization 

300

is the process of creating floor plans and displays to attract customer attention and encourage purchases

visual merchandising 

400

is a scale drawing showing how an overall space will be divided

floor plan

500

are the ideas or opinions about beauty 

aesthetics

Research the competition

100

are companies that sell goods or services identical or very similar to the ones you sell

direct competitors 

200

is based on the features and benefits of a good or service, not the price

nonprice competition 

300

helps a company decide its strengths, weaknesses, opportunities, and threats

SWOT analysis 

400

is a statement that lists a business' or product's special features or benefits that highlight its competitive advantage 

Unique selling proposition (USP)

500

are data that provide insight into what people think about a topic

qualitative data 

Management Functions

100

the leader allows and encourages all members of the group to participate and share ideas equally

democratic style

200

the leader makes all decisions without input from others 

autocratic style

300

is the practice of recognizing, accepting, and respecting diversity 

inclusion

400

employees means giving them the authority to make decisions 

empower

500

means employees are free to talk with any manager at any time

open-door policy 

Product, Price, and Plans

100

is the established price printed in a catalog or on a price tag. 

list price

200

is the price a customer actually pays for the product after discounts and coupons

selling price

300

are the goals defined in the business and marketing plans for the overall pricing policies of the company

pricing objectives

400

the people or businesses between the manufacturers or producers and the end users are called

intermediaries

500

is the path that goods take through the supply chain

channel of distribution

Legal Issues

100

is the steps and methods involved in the legal process

legal procedure

200

The most prominent health and safety laws established are

OSHA

300

gives the person or company the right to be the sole producer of a product for a defined period of time. 

patent

400

a ___________ is the fee paid to a lawyer or other professional in advance for the services 

retainer

500

_________ deals with the relationships between an owner also called the principal, and the contracted agent. 

Agency Law