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GMETRIX > ESB > Flashcards

ESB Flashcards

1
Q

The cost incurred by a business.

A

Acquisition Costs

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2
Q

An investor who provides funding to a business for a stake in the business in return.

A

Angel Investor

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3
Q

A tangible item a business owns.

A

Asset

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4
Q

commercial transaction between businesses.

A

A business-to-business (B2B)

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5
Q

A business-to-consumer transaction.

A

B2C

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6
Q

A document that compares assets to liabilities plus owner’s equity.

A

Balance Sheet

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7
Q

A business owner uses their own money to fund their business.

A

Bootstrapping

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8
Q

The level of familiarity one has with a brand.

A

Brand Recognition

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9
Q

The point where a business’s revenue matches its expenses over a given period.

A

Break-Even Point

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10
Q

The amount of money a business plans on spending during a given period.

A

Budget

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11
Q

A calculation used to measure a business’s monthly cash flow.

A

Burn Rate

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12
Q

A situation an entrepreneur analyzes and evaluates to see if starting a sustainable, profitable business is feasible.

A

Business Opportunity

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13
Q

A business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation.

A

C Corporation

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14
Q

A document that addresses the concept, customers, and capital of a business.

A

Business Plan

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15
Q

holds a leadership role within a business. oversees a business’s operations and resources and makes the major decisions for the company.

A

The Chief Executive Officer (CEO)

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16
Q

holds a leadership role within a business. oversees a company’s finances.

A

The Chief Financial Officer (CFO)

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17
Q

The action of working with one or more people toward a common goal.

A

Collaboration

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18
Q

A fee is paid to an employee for completing a task.

A

Commission

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19
Q

A signed agreement stating that an entity will not disclose information agreed upon by all parties in an arrangement.

A

Confidentiality Agreement

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19
Q

A monetary amount is given to employees in return for their work.

A

Compensation

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20
Q

An agreement between an employee and a company outlining obligations and terms of employment.

A

Contract

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21
Q

holds a leadership role within a business. is responsible for overseeing the day-to-day administrative and operational functions of a business.

A

The Chief Operating Officer (COO)

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22
Q

A form of protection individuals can implement to protect their intellectual property. designated for print, music, film, and various other forms of creative licenses.

A

Copyright

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23
Q

Using one’s mind to solve a problem in the best way by considering various potential solutions to the problem.

A

Critical Thinking

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24
Q

The method of sharing a start-up business online to pre-sell products.

A

Crowdfunding

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25
Q

An individual or business that purchases goods and services from a business.

A

Customer

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26
Q

The total cost of acquiring a new customer.

A

Customer Acquisition Cost

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27
Q

Activities or strategies employed by a business to retain existing customers.

A

Customer Retention

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28
Q

A local agency with information on participating local businesses.

A

Chamber of Commerce

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29
Q

Statistical data that refers to particular groups within a population.

A

Demographics

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30
Q

A method used to get a product from the manufacturer to the end-users.

A

Distribution Channel

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31
Q

An individual hired by a company and compensated for their work.

A

Employee

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32
Q

An individual who aspires to start and run a successful business.

A

Entrepreneur

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33
Q

Non-cash compensations are offered to employees in place of or in addition to a lower salary.

A

Equity

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34
Q

Standards of professional conduct professionals should uphold.

A

Ethical Practices

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35
Q

The costs of a business have remained the same no matter the volume of production.

A

Fixed Costs

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36
Q

Thinking about and planning for the future.

A

Forward-Thinking Mentality

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37
Q

The person who developed or created a company or organization.

A

Founder

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38
Q

A business that takes its name and characteristics from an existing business chain.

A

Franchise

39
Q

The characteristic of being able to tackle goals with courage and perseverance.

A

Grit

40
Q

Believing that one can accomplish anything with hard work.

A

Growth Mindset

41
Q

A payment amount is provided to employees for the number of hours they worked.

A

Hourly Pay

42
Q

A financial statement that details a business’s revenue and expenses for a given period.

A

Income Statement

43
Q

A characteristic in which an individual acts to turn ideas into action.

A

Initiative

44
Q

A new idea, product, or method.

A

Innovation

45
Q

A creative work or invention to which an individual has been given rights.

A

Intellectual Property

46
Q

Goods a business owns with the purpose of selling.

A

Inventory

47
Q

A person or entity is willing to provide monetary funds to a business with the hopes of earning a return on their money.

A

Investor

48
Q

A one-page document discussing key information commonly seen in a business plan

A

Lean Canvas

49
Q

The amount of money owed to an entity.

A

Liability

50
Q

is a business with pass-through taxation where owners pay taxes on the company’s profit and losses through their personal taxes.

A

A limited liability company (LLC)

51
Q

A form of communication between businesses and customers that relays a message promoting services and/or goods.

A

Marketing

52
Q

A written plan that outlines a company’s marketing strategies.

A

Marketing Plan

53
Q

is an inexpensive preliminary product to test the product idea.

A

A minimum viable product (MVP)

54
Q

A type of business that has no owner and does not pay federal US taxes.

A

Nonprofit

55
Q

The expenses incurred for running day-to-day tasks in a business.

A

Operating Costs

56
Q

The way one approaches new ideas and ventures in their life.

A

Opportunity Recognition

57
Q

The individuals that own the business.

A

Owner

58
Q

Two or more individuals that share a business’s financial responsibility.

A

Partners

59
Q

A legal method used to protect an invention for a limited time.

A

Patent

60
Q

One’s ability to act to work toward achieving a goal.

A

Personal Agency

61
Q

A type of compensation provided for the amount of work produced.

A

Piece Work

62
Q

A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting.

A

Pitch Deck

63
Q

The amount of money charged for goods or services.

A

Price

64
Q

First-hand research like surveys, interviews, and statistical data.

A

Primary Data

65
Q

The process of coming up with solutions to solve a problem.

A

Problem-Solving

66
Q

The stage where a business’s sales are high and continue to grow because their product or service is something customers want and continue to purchase.

A

Product/Market Fit

67
Q

A tangible item.

A

Product

68
Q

The amount of financial gain from a business.

A

Profit

69
Q

One’s ability to adapt to change, loss, and disappointment.

A

Resiliency

69
Q

A preliminary product, commonly a product with minimum viability, from which to test and develop.

A

Prototype

70
Q

The number of sales and other income in a business for a given period.

A

Revenue

71
Q

The possibility of something negative happening. In the context of a small business, the possibility of a loss of time and money.

A

Risk

72
Q

The level of willingness to lose time and money when starting a business.

A

Risk Tolerance

73
Q

is a calculation used to determine how much an investment is making.

A

Return on investment (ROI)

74
Q

Fees paid for the use of a brand name or image.

A

Royalty Fees

75
Q

A calculation is used to make projections about a company’s future performance.

A

Run Rate

76
Q

How a business sells its products and services to the end customer.

A

Sales Channel

76
Q

A fixed payment amount provided to a full-time employee.

A

Salary

76
Q

A persuasive speech prepared to entice a potential customer to purchase a service or good.

A

Sales Pitch

77
Q

A type of business structure with a special tax advantage that allows the company to pass its income, losses, deductions, and credits through its shareholders.

A

S Corporation

78
Q

Data that may contain personal bias like company newsletters and academic journals.

A

Secondary Data

79
Q

Trusting one’s self, goals, and progress.

A

Self-Reliance

80
Q

The price a company charges for its product or service. determined by adding the cost price and the profit margin the company wants to earn.

A

Selling Price

81
Q

An intangible service or skill that is performed.

A

Service

82
Q

A corporation, partnership, or sole proprietorship that is privately owned by one individual or a small group of people. They commonly have fewer employees and revenue than larger-sized businesses.

A

Small Business

83
Q

is an independent government agency specializing in providing small businesses with assistance to get their business up and running.

A

The Small Business Administration (SBA)

84
Q

A type of business structure with a single owner. The business is not shielded from any amount of liability.

A

Sole Proprietorship

85
Q

An individual with an interest in a business.

A

Stakeholder

86
Q

An individual that owns at least one share in a corporation’s stock.

A

Stockholder

87
Q

A planning tool used to document a company’s strengths, weaknesses, opportunities, and threats.

A

SWOT Analysis

88
Q

The group of customers a company chooses to market its products and services.

A

Target Market

89
Q

A practice used by businesses to protect a practice, process, or formula from being shared with other competitors.

A

Trade Secret

90
Q

A practice used to protect brand names, logos, and business names

A

Trademark

91
Q

A promise of value that a company makes about their product or service that makes it attractive to customers.

A

Value Proposition

92
Q

Fluctuating costs that a business has depending on production.

A

Variable Costs

GMETRIX (1 decks)

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