Studied by 10 people
Tort
The type of law that addresses issues that interfere with a firm's right to do business
Send a request to the other party asking for cancellation
The way to attempt to cancel a contract without facing legal action
Corporation
The form of business ownership that must obtain a charter from the state it operates in
Business experience
A personal factor that affects the choice of a form of business ownership
They must be properly managed
A condition that must exist for channels to be effective
Intermediaries
The factor that only indirect channels of distribution use
Market factors
The focus of a business when they are considering the number of potential customers in various geographic regions
To analyze marketing trends
A reason why a supervisor may prepare a formal business report
Touchpoint
A news story on TV about a certain company or brand
Businesses developing new products
A benefit of competition between businesses for consumers
Acting as a referee
One of the government's original roles in business
Economies of sale
An economic concept that influences the cost of the production process
Cultural sensitivity
A marketing technique: changing parts in a game that is marketed in other countries so the game conforms to local customs and preferences
Do your homework
A technique used to be ready to answer questions and give proof
A goal is concrete and measurable
The way a goal differs from a vision
Resist
The action an employee comfortable with the workplace may take when workplace changes are made
Read about trends impacting the hospital industry
How a business owner offering data management services for medical records in hospitals identify what hospital administrators will expect from her service
Finding a shared vision
The technique a person could use to build a relationship with an influential member of a business community
Developing a selling a new wood cutting device
A business that represents an innovative entrepreneurial endeavor
Can withstand ups and downs
A trait of a good entrepreneur
Online businesses can easily become involved in international trade
A fact about international trade
Satisfy an unmet demand
Something a small business owner or entrepreneur can do in the free enterprise economic system
Facilitator
The person who guides the group discussion when generating product ideas
Funding
Sources of the financial section of a feasibility study
Operation budget
A financial tool that entrepreneurs use to plan, monitor, and manage their ventures' income and expenses
Lacks knowledge or experience in the field
The time an entrepreneur is most likely to discuss the concept for a new business with an industry expert
The company is often unable to meet its deadlines
A sign that the company may need to hire more employees
Proximity
The benefit of moving a company's headquarters to another city closer to the raw materials needed for manufacturing
Standard
The way tasks are performed and put in place by developed operating systems to run small businesses
Poor communication
A factor that reduces employee productivity and has a negative effect on the success of new small businesses
Economic conditions
An external factor monitored by businesses to continue adapting to changes in the business environment to stay competitive
Income statement
The factor the profit of a business can be determined from
Checking account
An example of a current asset
A company strives to fix its method of international communication
An example of business process thinking
Short-term loans
Credit that business owners obtain to purchase seasonal goods for resale
You have control over how your money is spent
A benefit of debt financing when starting a business
Marginal revenue
Dividing the change in total revenue by the marginal product
It is a quick and easy method to use
An advantage of the jury of executive opinion method of sales forecasting
Horizontal analysis
A financial analysis methods that compares the same items on a company's financial statement for two or more periods
Orientation
An onboarding activity
Employment history
Something that job applications provide
The board of directors
The primary stakeholder influencing corporate governance
To ensure employees understand the material
The main purpose of encouraging feedback during an employee training session
Corrective
The approach to managing people to discourage further violations of company rules after infractions have already occured
Providing salespeople with additional training
A way marketers can use data to follow up on any problems or issues with a product
Place
Marketing research that affects the business's marketing mix by providing information about various locations
Marketing-information management
A marketing function: somebody is asked their opinion on different brands of the same product
Adjusts its marketing strategies
An appropriate action for a business to take when competitors introduce similar products to the marketplace
To divide into well-defined groups of consumers
An overall purpose of market segmentation
An athletic footwear company creating a shoe line for children who play soccer
An example of niche marketing
Other operational activities
A reason why it is important to accurately forecast sales for the marketing plan
Online tracking methods
A controversial way for an organization to collect and use data on consumer purchasing habits
To obtain systems that perform required functions
The reason businesses establish specifications for selecting hardware systems
To identify patterns
The primary purpose of data mining
To prove the business's net worth to acquire a bank loan
A reason why a small business might share its financial records
Inventory report
The type of business record that will help a firm determine the status of its supplies
Obtaining resources
An operations activity in business
Safety issues
Workplace hazards such as electrical hazards, slipping, tripping, and violence
To obtain a delivery date
The reason businesses may purchase
Standardized
A production process: three-way lightbulbs are made with all the same size base
Note
Flashcard