Business Basic
This type of person is responsible for organizing, operating, and assuming the risk of a business.
Who is an entrepreneur?
This part of a business plan includes documents that support the rest of the report.
What is the appendix?
This is the component of the marketing mix that makes products available to customers.
What is distribution?
A management style where employees help in decision-making
What is democratic management?
A unit of ownership in a corporation.
What is a share of stock?
In a new venture, this individual may serve in all levels of management.
Who is the entrepreneur?
The summary that should be written last, but appears first in a business plan.
What is the executive summary?
A form of advertising that plays before the user can access content.
What is an interstitial ad?
A leadership style to avoid using inappropriately in today’s workplaces.
What is authoritative management?
A type of creative thinking result that leads to a new product or service.
What is an idea?
Entrepreneurs often include non-profitable products in their mix for this reason.
What is customer convenience?
This chart shows the company’s chain of command and who reports to whom.
What is an organizational chart?
This method of advertising combines text, images, sound, and motion.
What is television advertising?
This motivates employees by involving them in company decisions and giving praise.
What is employee empowerment and recognition?
Students who work for experience instead of pay
Who are interns?
People typically spend little time making these types of buying decisions.
What are emotional buying decisions?
These financial statements are required in the business plan of an existing business
What are current and projected financial statements?
The percentage of total sales a company has in a given market.
What is market share?
This final step in the problem-solving process checks if the action taken worked
What is evaluating the action?
This term describes the total dollar value of sales minus returns.
What are net sales?
This type of business sells products directly to consumers.
What is a retailing business?
This part of a business plan includes the name, date, and owner’s information.
What is the title page?
The term for any interaction a customer has with a company in a CRM system.
What is a touch point?
The process of ensuring operations meet business standards.
What is controlling?
This is the process of selling your idea to a company so they can develop it.
What is licensing?