Business Math
Formula for total sales
What is Revenue = Price × Units Sold?
Anyone affected by a business
What is a stakeholder?
A specific group of customers
What is a target market?
Leadership style where the leader decides alone
What is autocratic leadership?
Business owned by one person
What is a sole proprietorship?
Money left after expenses
What is profit?
Why a business exists
What is a mission statement?
A profile of an ideal customer
What is a customer persona?
Leadership style focused on team input
What is democratic leadership?
Business structure with shared profits and liability
What is a partnership?
Costs like rent and salaries
What are fixed expenses?
What a business owns
What are assets?
Gathering information about customers and competitors
What is market research?
Leadership style that inspires and motivates
What is transformational leadership?
Separate legal entity with limited liability
What is a corporation?
Formula used to measure efficiency as a percentage
What is Profit Margin = (Profit ÷ Revenue) × 100?
The process of moving and storing goods
What is logistics?
Explaining why customers should choose your product
What is a value proposition?
Leadership style using rewards and punishments
What is transactional leadership?
Hybrid structure with limited liability and flexible management
What is an LLC?
A business earns $5,000 revenue and has $3,500 expenses. Calculate profit.
What is $1,500?
A tool analyzing strengths, weaknesses, opportunities, and threats
What is SWOT analysis?
When a solution clearly solves a real customer problem
What is problem–solution fit?
Leadership style where the leader serves the team first
What is servant leadership?
Mission-driven organization that is tax-exempt
What is a nonprofit?