The type of law that addresses issues that interfere with a firm's right to do business
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Send a request to the other party asking for cancellation
The way to attempt to cancel a contract without facing legal action
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Corporation
The form of business ownership that must obtain a charter from the state it operates in
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Business experience
A personal factor that affects the choice of a form of business ownership
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They must be properly managed
A condition that must exist for channels to be effective
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Intermediaries
The factor that only indirect channels of distribution use
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Market factors
The focus of a business when they are considering the number of potential customers in various geographic regions
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To analyze marketing trends
A reason why a supervisor may prepare a formal business report
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Touchpoint
A news story on TV about a certain company or brand
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Businesses developing new products
A benefit of competition between businesses for consumers
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Acting as a referee
One of the government's original roles in business
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Economies of sale
An economic concept that influences the cost of the production process
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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
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Do your homework
A technique used to be ready to answer questions and give proof
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A goal is concrete and measurable
The way a goal differs from a vision
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Resist
The action an employee comfortable with the workplace may take when workplace changes are made
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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
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Finding a shared vision
The technique a person could use to build a relationship with an influential member of a business community
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Developing a selling a new wood cutting device
A business that represents an innovative entrepreneurial endeavor
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Can withstand ups and downs
A trait of a good entrepreneur
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Online businesses can easily become involved in international trade
A fact about international trade
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Satisfy an unmet demand
Something a small business owner or entrepreneur can do in the free enterprise economic system
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Facilitator
The person who guides the group discussion when generating product ideas
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Funding
Sources of the financial section of a feasibility study
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Operation budget
A financial tool that entrepreneurs use to plan, monitor, and manage their ventures' income and expenses
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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
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The company is often unable to meet its deadlines
A sign that the company may need to hire more employees
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Proximity
The benefit of moving a company's headquarters to another city closer to the raw materials needed for manufacturing
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Standard
The way tasks are performed and put in place by developed operating systems to run small businesses
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Poor communication
A factor that reduces employee productivity and has a negative effect on the success of new small businesses
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Economic conditions
An external factor monitored by businesses to continue adapting to changes in the business environment to stay competitive
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Income statement
The factor the profit of a business can be determined from
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Checking account
An example of a current asset
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A company strives to fix its method of international communication
An example of business process thinking
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Short-term loans
Credit that business owners obtain to purchase seasonal goods for resale
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You have control over how your money is spent
A benefit of debt financing when starting a business
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Marginal revenue
Dividing the change in total revenue by the marginal product
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It is a quick and easy method to use
An advantage of the jury of executive opinion method of sales forecasting
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Horizontal analysis
A financial analysis methods that compares the same items on a company's financial statement for two or more periods
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Orientation
An onboarding activity
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Employment history
Something that job applications provide
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The board of directors
The primary stakeholder influencing corporate governance
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To ensure employees understand the material
The main purpose of encouraging feedback during an employee training session
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Corrective
The approach to managing people to discourage further violations of company rules after infractions have already occured
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Providing salespeople with additional training
A way marketers can use data to follow up on any problems or issues with a product
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Place
Marketing research that affects the business's marketing mix by providing information about various locations
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Marketing-information management
A marketing function: somebody is asked their opinion on different brands of the same product
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Adjusts its marketing strategies
An appropriate action for a business to take when competitors introduce similar products to the marketplace
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To divide into well-defined groups of consumers
An overall purpose of market segmentation
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An athletic footwear company creating a shoe line for children who play soccer
An example of niche marketing
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Other operational activities
A reason why it is important to accurately forecast sales for the marketing plan
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Online tracking methods
A controversial way for an organization to collect and use data on consumer purchasing habits
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To obtain systems that perform required functions
The reason businesses establish specifications for selecting hardware systems
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To identify patterns
The primary purpose of data mining
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To prove the business's net worth to acquire a bank loan
A reason why a small business might share its financial records
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Inventory report
The type of business record that will help a firm determine the status of its supplies
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Obtaining resources
An operations activity in business
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Safety issues
Workplace hazards such as electrical hazards, slipping, tripping, and violence
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To obtain a delivery date
The reason businesses may purchase
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Standardized
A production process: three-way lightbulbs are made with all the same size base
Studied by 85 people
Note 
Flashcard (50)