Untitled Flashcards Set

Entrepreneur

An individual responsible for their business success and risks more than an employee.

Green company

A business that aims at protecting the environment.

Dot-com company

A company that conducts most of its business from the Internet.

Internship

A way to gain experience in a particular business.

Market economic system

A system where suppliers and consumers control production and price of goods.

Double taxation

Taxation that applies to C-Corporations.

General partnership disadvantages

In a general partnership, profits are split and partners are responsible for each other's actions.

Limited Partnership

A type of business tied to the life span of its owners.

Conflict of interest

When personal considerations interfere with professional obligations.

Carbon footprint

A measurement of the amount of carbon one person or business uses.

Greenwashing

The practice of overstating a business's commitment to environmental responsibility.

Sponsorship

Putting a logo on a sports team's uniforms.

Business broker

Someone who is licensed to sell businesses.

Calculated risk

Carefully considering potential costs and benefits of an idea.

SWOT analysis

A strategic planning method used by businesses.

Psychographics

Facts about consumers that relate to their beliefs, lifestyle, and personal preferences.

Bundling

The practice of combining the price of several products into one price.

Demand-based pricing

A pricing strategy that focuses on how much customers are willing to pay.

Exclusive distribution

Distribution that gives an authorized dealer the sole rights to sell a product.

Promotion

The process used to influence potential customers to buy a product.

Premium

A free gift with a company's name printed on it.

Direct mail

A form of one-on-one communication used in marketing.