ESB Certification
Acquisition Costs - answer Cost incurred by a business.
Angel Investor - answer An investor who provides funding to a business for a stake in
the business in return.
Asset - answer A tangible item a business owns.
B2B - answer A business-to-business (B2B) commercial transaction between
businesses.
B2C - answer A business-to-consumer (B2C) transaction.
Balance Sheet - answer A document that compares assets to liabilities plus owner's
equity.
Bootstrapping - answer A business owner that uses their own money to fund their
business.
Brand Recognition - answerThe level of familiarity one has with a brand.
Break-Even Point - answerThe point where a business's revenue matches its expenses
over a given period.
Budget - answerThe amount of money a business plans on spending during a given
period.
Burn Rate - answerA calculation used to measure a business's monthly cash flow.
Business Opportunity - answerA situation an entrepreneur analyzes and evaluates to
see if starting a sustainable, profitable business is feasible.
Business Plan - answerA document that addresses the concept, customers, and capital
for a business.
C Corporation - answerA business structure that allows the company to pass its income,
losses, deductions, and credits through its shareholders to decrease their taxation.
CEO - answerThe Chief Executive Officer (CEO) holds a leadership role within a
business. The CEO oversees a business's operations and resources and makes the
major decisions for the company.
, CFO - answerThe Chief Financial Officer (CFO) holds a leadership role within a
business. The CFO oversees a company's finances.
Collaboration - answerThe action of working with one or more people toward a common
goal.
Commission - answerA fee paid to an employee for completing a task.
Compensation - answerA monetary amount given to employees in return for their work.
Confidentiality Agreement - answerA signed agreement stating that an entity will not
disclose information agreed upon by all parties in an arrangement.
Contract - answerAn agreement between an employee and a company outlining
obligations and terms of employment.
COO - answerThe Chief Operating Officer (COO) holds a leadership role within a
business. The COO is responsible for overseeing the day-to-day administrative and
operational functions of a business.
Copyright - answerA form of protection individuals can implement to protect their
intellectual property. Copyright is designated for print, music, film, and various other
forms of creative licenses.
Critical Thinking - answerUsing one's mind to solve a problem in the best way by
considering various potential solutions to the problem.
Crowdfunding - answerThe method of sharing a start-up business online to pre-sell
products.
Customer - answerAn individual or business that purchases goods and services from a
business.
Customer Acquisition Cost - answerThe total cost of acquiring a new customer.
Customer Retention - answerActivities or strategies employed by a business to retain
existing customers.
Chamber of Commerce - answerA local agency with information on participating local
businesses.
Demographics - answerStatistical data that refers to particular groups within a
population.
Acquisition Costs - answer Cost incurred by a business.
Angel Investor - answer An investor who provides funding to a business for a stake in
the business in return.
Asset - answer A tangible item a business owns.
B2B - answer A business-to-business (B2B) commercial transaction between
businesses.
B2C - answer A business-to-consumer (B2C) transaction.
Balance Sheet - answer A document that compares assets to liabilities plus owner's
equity.
Bootstrapping - answer A business owner that uses their own money to fund their
business.
Brand Recognition - answerThe level of familiarity one has with a brand.
Break-Even Point - answerThe point where a business's revenue matches its expenses
over a given period.
Budget - answerThe amount of money a business plans on spending during a given
period.
Burn Rate - answerA calculation used to measure a business's monthly cash flow.
Business Opportunity - answerA situation an entrepreneur analyzes and evaluates to
see if starting a sustainable, profitable business is feasible.
Business Plan - answerA document that addresses the concept, customers, and capital
for a business.
C Corporation - answerA business structure that allows the company to pass its income,
losses, deductions, and credits through its shareholders to decrease their taxation.
CEO - answerThe Chief Executive Officer (CEO) holds a leadership role within a
business. The CEO oversees a business's operations and resources and makes the
major decisions for the company.
, CFO - answerThe Chief Financial Officer (CFO) holds a leadership role within a
business. The CFO oversees a company's finances.
Collaboration - answerThe action of working with one or more people toward a common
goal.
Commission - answerA fee paid to an employee for completing a task.
Compensation - answerA monetary amount given to employees in return for their work.
Confidentiality Agreement - answerA signed agreement stating that an entity will not
disclose information agreed upon by all parties in an arrangement.
Contract - answerAn agreement between an employee and a company outlining
obligations and terms of employment.
COO - answerThe Chief Operating Officer (COO) holds a leadership role within a
business. The COO is responsible for overseeing the day-to-day administrative and
operational functions of a business.
Copyright - answerA form of protection individuals can implement to protect their
intellectual property. Copyright is designated for print, music, film, and various other
forms of creative licenses.
Critical Thinking - answerUsing one's mind to solve a problem in the best way by
considering various potential solutions to the problem.
Crowdfunding - answerThe method of sharing a start-up business online to pre-sell
products.
Customer - answerAn individual or business that purchases goods and services from a
business.
Customer Acquisition Cost - answerThe total cost of acquiring a new customer.
Customer Retention - answerActivities or strategies employed by a business to retain
existing customers.
Chamber of Commerce - answerA local agency with information on participating local
businesses.
Demographics - answerStatistical data that refers to particular groups within a
population.
