Money Moves, Marketing, HR, Entrepreneurship, and Business Operations

Vocabulary flashcards covering key business concepts including finance, marketing, human resources, entrepreneurship, and operations.

Operating Budget

Business estimates of future income and expenses.

Income Statement

Shows revenue, expenses, and profit or loss.

Cash Flow

Tracks money coming into and leaving businesses.

Financing

Is about obtaining money to fund businesses.

Profit

The result of revenue being greater than expenses.

Market Research

Conducted by businesses to learn what customers want.

Target Market

The specific group of customers that businesses target.

Pricing

The marketing decision that determines how much customers pay.

Customer Service

What businesses should try to improve when customers complain about employees.

Innovation

Developing new ways to solve customer problems.

Employee Orientation

The process that introduces new employees to the company.

Hiring

The HR activity that involves finding employees for open positions.

Performance Standards

Establishes measurable expectations for employees.

Productivity

Measures how efficiently resources are being used.

Staffing / Workforce Needs

What a business should investigate when current employees work overtime.

Opportunity Recognition

The skill that involves recognizing business opportunities.

Business Plan

The document that describes a business's goals, operations, and market research.

Gap Analysis

Compares a current situation with a desired situation.

Market Research (Entrepreneurship)

What an entrepreneur should investigate before investing in a new product.

Inventory

Tracks products that a business has for sale.

Operating Procedures

Provides written instructions for routine business tasks.