Business Management
4 Ps of marketing - correct answerThe four major aspects of marketing: price,
promotion, product, and place (distribution).
accounting - correct answerThe theory and system of setting up, maintaining, and
auditing the books of a firm; art of analyzing the financial position and operating results
of a business house from a study of its sales, purchases, overhead, and so forth.
added value - correct answerThe increase in worth of a product or service as a result of
a particular activity.
advertising - correct answerThe purchase of space in a publication or public place for a
company to present promotional materials in order to reach its customers.
angel investor - correct answerAn individual who invests in a business venture,
providing capital for start-up or expansion, in exchange for a higher rate of return than
would be given by more traditional investments.
assessment - correct answerThe process of identifying business risks and their potential
impact and probability, and developing strategies to mitigate risk and recover from
incidents.
associate's degree (AA) - correct answerA degree given for successful completion of
some courses of study at a two-year college.
bachelor of business administration (BBA) - correct answerBachelor of business
administration.
bachelor's degree (BA or BS) - correct answerAn academic degree typically requiring
four years of study, conferred on someone who has successfully completed
undergraduate studies; a bachelor of arts is a BA and a bachelor of science is a BS.
bias - correct answerA preference or subjective background that prevents someone
from considering an issue objectively.
board of advisors - correct answerAn informal group of advisors with no legal sanctions
that guides and provides direction to the entrepreneurs.
board of directors - correct answerThe formal group of elected advisors that set policy,
help shape a business's daily operations and growth strategy, and provide direction to
the entrepreneurs.
bonding insurance - correct answerA type of insurance that protects against actions of
the company's employees, such as employee theft or work that is not finished on time.
, business life cycle - correct answerRelative growth and decline of profit over the course
of a business's existence.
business plan - correct answerA written document detailing a business's plan of
operations and goals, and describing its activities, management team, costs, and
financial projections and plans.
casualty insurance - correct answerA type of insurance that protects a business from
lawsuits by providing payment for damages and court defense.
code of ethics - correct answerA document that includes a set of rules or behaviors
governing an organization's business practices based on its values and standards.
college - correct answerAn institution of higher learning that offers undergraduate
programs, usually of a four-year duration, that lead to a bachelor's degree in the arts or
sciences (BA or BS).
common sense - correct answerGood judgment based on the perception of a situation
or the facts presented.
competitive advantage - correct answerAn advantageous position that a company
occupies in relation to its competition. The two most common types of competitive
advantage are cost advantage and differential advantage.
compliance - correct answerThe act of adhering to regulations, laws, and standards
established by government and private organizations.
Consumer Product Safety Act - correct answerThe regulation of 1972 establishing a US
Consumer Product Safety Commission charged with establishing standards and laws to
test and ensure the safety of products offered for sale in the United States.
Consumer Product Safety Improvement Act - correct answerThe law enacted in 2008
requiring safety testing for children's toys and products, controversial for its impact on
small businesses and secondhand stores.
copyright - correct answerLegal protection for creative works such as writing, art, music,
software, images, and video. Copyright can be filed with the Library of Congress and
lasts for the life of an individual author plus 70 years.
corporate governance - correct answerThe system for rules, regulations, and standards
that direct and control the ethical actions.
corporate responsibility - correct answerThe voluntary choice of major stakeholders,
such as officers and directors of a corporation, to behave ethically and make socially
responsible choices.
4 Ps of marketing - correct answerThe four major aspects of marketing: price,
promotion, product, and place (distribution).
accounting - correct answerThe theory and system of setting up, maintaining, and
auditing the books of a firm; art of analyzing the financial position and operating results
of a business house from a study of its sales, purchases, overhead, and so forth.
added value - correct answerThe increase in worth of a product or service as a result of
a particular activity.
advertising - correct answerThe purchase of space in a publication or public place for a
company to present promotional materials in order to reach its customers.
angel investor - correct answerAn individual who invests in a business venture,
providing capital for start-up or expansion, in exchange for a higher rate of return than
would be given by more traditional investments.
assessment - correct answerThe process of identifying business risks and their potential
impact and probability, and developing strategies to mitigate risk and recover from
incidents.
associate's degree (AA) - correct answerA degree given for successful completion of
some courses of study at a two-year college.
bachelor of business administration (BBA) - correct answerBachelor of business
administration.
bachelor's degree (BA or BS) - correct answerAn academic degree typically requiring
four years of study, conferred on someone who has successfully completed
undergraduate studies; a bachelor of arts is a BA and a bachelor of science is a BS.
bias - correct answerA preference or subjective background that prevents someone
from considering an issue objectively.
board of advisors - correct answerAn informal group of advisors with no legal sanctions
that guides and provides direction to the entrepreneurs.
board of directors - correct answerThe formal group of elected advisors that set policy,
help shape a business's daily operations and growth strategy, and provide direction to
the entrepreneurs.
bonding insurance - correct answerA type of insurance that protects against actions of
the company's employees, such as employee theft or work that is not finished on time.
, business life cycle - correct answerRelative growth and decline of profit over the course
of a business's existence.
business plan - correct answerA written document detailing a business's plan of
operations and goals, and describing its activities, management team, costs, and
financial projections and plans.
casualty insurance - correct answerA type of insurance that protects a business from
lawsuits by providing payment for damages and court defense.
code of ethics - correct answerA document that includes a set of rules or behaviors
governing an organization's business practices based on its values and standards.
college - correct answerAn institution of higher learning that offers undergraduate
programs, usually of a four-year duration, that lead to a bachelor's degree in the arts or
sciences (BA or BS).
common sense - correct answerGood judgment based on the perception of a situation
or the facts presented.
competitive advantage - correct answerAn advantageous position that a company
occupies in relation to its competition. The two most common types of competitive
advantage are cost advantage and differential advantage.
compliance - correct answerThe act of adhering to regulations, laws, and standards
established by government and private organizations.
Consumer Product Safety Act - correct answerThe regulation of 1972 establishing a US
Consumer Product Safety Commission charged with establishing standards and laws to
test and ensure the safety of products offered for sale in the United States.
Consumer Product Safety Improvement Act - correct answerThe law enacted in 2008
requiring safety testing for children's toys and products, controversial for its impact on
small businesses and secondhand stores.
copyright - correct answerLegal protection for creative works such as writing, art, music,
software, images, and video. Copyright can be filed with the Library of Congress and
lasts for the life of an individual author plus 70 years.
corporate governance - correct answerThe system for rules, regulations, and standards
that direct and control the ethical actions.
corporate responsibility - correct answerThe voluntary choice of major stakeholders,
such as officers and directors of a corporation, to behave ethically and make socially
responsible choices.
