business terms
This term refers to the amount of money a company earns from its core business activities, excluding costs like taxes, interest, and other non-operating expenses.
This style of leadership is often used in situations requiring decisions and strict control, where the leader asserts total authority and doesn't seek input from team members.
What is autocratic leadership?
🔹 Holding over 1,000 patents, this inventor and businessman founded a famous research lab in Menlo Park, New Jersey, where he influenced the development of technologies like the phonograph, motion pictures, and even the lightbulb.
Who is Thomas Edison?
🔹 This business field focuses on creating and delivering value to customers through advertising, branding, and market research, all while developing strategies to promote products and services.
What is Marketing?
🔹 This type of business is the simplest to form and is owned and run by one individual, who assumes all profits and liabilities.
What is a sole proprietorship?
This profitability metric, often expressed as a percentage, measures how much of a company’s revenue remains as profit after deducting all expenses, including taxes and operating costs. It is a key indicator of overall business efficiency and financial health.
What is Net Profit?
This leadership style encourages input and collaboration from team members, but the leader retains final decision-making authority. It balances inclusivity with control, fostering a sense of involvement while ensuring that the leader's vision is ultimately implemented.
What is Democratic leadership?
This industrial superpower used an autocratic style, to implement the assembly line, efficiently revolutionizing the automobile industry.
Who is Henry Ford?
🔹 This field is centered around the creation, development, and management of new businesses, often requiring innovation, risk-taking, and identifying opportunities in the marketplace.
What is Entrepreneurship?
🔹 In this business model, a person purchases the rights to operate under an established company's brand name and follows its business model in exchange for fees.
What is a franchise?
🔹 This strategic business analysis framework helps organizations assess internal strengths and weaknesses alongside external opportunities and threats. It is widely used in strategic planning to identify competitive advantages and areas for improvement.
What is a SWOT analysis?
🔹 This leadership style is characterized by a hands-off approach, where leaders give their team the freedom to make decisions and manage their own work with minimal direct supervision. While it allows for high autonomy, it may lead to a lack of guidance or accountability in some situations.
What is laissez-faire leadership?
HIGH STAKES CLUE🔹 Born in 1835, this business magnate and philanthropist revolutionized the steel industry in the United States with his company, later selling it to J.P. Morgan for $480 million. He is also known for his "Gospel of Wealth" philosophy, advocating for the rich to use their wealth for the greater good.
Who is Andrew Carnegie?
🔹 This field involves the systematic recording, reporting, and analysis of financial transactions of a business. It plays a crucial role in decision-making, financial planning, and ensuring compliance with laws and regulations.
What is Accounting?
🔹 This type of business structure involves two or more individuals who share ownership and management responsibilities, with the potential for unlimited liability in a general partnership or limited liability in a limited partnership. It is often used for professional services or small enterprises but requires a clear partnership agreement to define roles, profit-sharing, and dispute resolution.
What is a partnership?
HIGH STAKES CLUE🔹 This financial metric, often used by investors, measures a company's profitability by dividing net income by shareholders' equity. It is a key indicator of how effectively management is using a company's assets to generate profit.
Return on Equity (ROE)
🔹 This leadership style emphasizes inspiring and motivating followers to exceed expectations, fostering personal growth, and encouraging innovation within the team. Leaders using this style focus on transforming both the team and the organization by providing vision and intellectual stimulation while recognizing individual needs.
What is transformational Leadership?
🔹 This American financier played a pivotal role in consolidating and stabilizing major industries in the late 19th and early 20th centuries. He was instrumental in the creation of U.S. Steel, the first billion-dollar corporation, and is known for helping to avert a national banking crisis in 1907 by personally orchestrating a financial rescue.
Who is J.P. Morgan?
🔹 This business field involves managing a company’s financial resources, including the acquisition of capital, investment strategies, budgeting, risk management, and ensuring long-term financial stability. It helps businesses plan for growth, handle financial risks, and make strategic decisions based on financial data.
What is Finance?
🔹 This hybrid business entity provides owners with protection from personal liability, similar to a corporation, while allowing profits to pass through to their personal tax returns, avoiding the double taxation typically associated with corporations.
What is a limited liability company (LLC)?
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🔹 This economic principle, central to the study of economics, explains how the price of a good or service is determined in a competitive market. It states that the price will adjust until the quantity demanded by consumers equals the quantity supplied by producers, creating a state where there is neither surplus nor shortage in the market.
What is Market Equilibrium?
🔹 This leadership style is focused on maintaining clear structure and order, where leaders set strict guidelines and expectations for their team. They use rewards and punishments to ensure that goals are met and work is completed according to the set standards, often in high-pressure or crisis situations.
What is transactional leadership?
This Japanese entrepreneur and engineer founded a company in 1948 that would become the world’s largest manufacturer of motorcycles and a leading automobile producer. Known for his innovative engineering and commitment to quality, he transformed his company from a small workshop into a global powerhouse, playing a crucial role in the motorization of post-war Japan.
who is Soichiro Honda?/ Who is the founder of Honda?
🔹 This field encompasses the management of business operations that span multiple countries, involving trade, investment, marketing, and finance across borders. Professionals in this area must navigate diverse regulations, cultural differences, exchange rates, and global economic conditions to expand businesses and compete in the global marketplace.
What is International Business?
🔹 This complex business structure allows a parent company to own multiple businesses under a single umbrella, often seen in multinational enterprises.
What is a conglomerate?