Business Basics
SWOT
Strengths, Weaknesses, Opportunities, Threats
Name one type of planning
Strategic, Tactical, Operational, Contingency
The Five Ps
Product, Price, Place, Promotion, People
CPI
Consumer Price Index
Name of baseball team
Red Sox
Name a macro economic factor
Political, Economic, Social, Technology, Environmental, Legal
Span of control
Number of employees a manager supervises
A group of customers that the business wants to reach
Target market
Two sources of funding
Debt and Equity
Northeastern Mascot
Husky
Where do most business ideas come from?
Solving a problem or identifying a need
What is the role of management?
Developing, maintaining and allocating resources
What is customer value
All benefits less all costs
Shows a firm's total profit and loss over a period of time
Income Statement
Dessert named after the city
Boston Cream Pie
What are the three main functional areas of business?
Marketing, Operations, Finance
Describe a leadership style
Autocratic, Participative, Free-Rein
How to determine price
Costs, Competitors, Value
Shows assets and liabilities
Balance Sheet
A ride in the Public Gardens
Swan Boats
What is the primary goal for most businesses?
Maximize profits for owners and shareholders
Matrix
Type of organizational structure where people from different functional areas work together on a project
Name one criteria for market segmentation
Geographic, Demographic, Psychographic, Behavior, Benefit, Volume
What is used to compare financial data
Ratios
Sticky substance that killed 29 people in 1919
The Great Molasses Flood