ESB certification vocabulary(Vocab for certification test)2023

ESB certification vocabulary(Vocab for certification test)2023 Break Even Formula To calculate the break-even point in units use the formula: Break-Even point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin. Driving Sales the largest automotive marketing resource and car dealer social network, providing industry best practices and more Inventory Loan The loan is collateralized by the inventory it is used to purchase. Operating Loan (also called a line of credit) is a short-term, flexible loan that a business can use as needed to borrow up to a pre-set amount of money.To ensure it will be repaid, the bank will often include a claim on the company's inventory and accounts receivable as part of the loan agreement. Tenacious tending to keep a firm hold of something; clinging or adhering closely Competency a set of particular abilities and knowledge that sets a company apart from its competitors. Non-Profit Organization organization is a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers. Storefront Store exterior which reflects on the image of the business Tax Liability the total amount of tax debt owed by an individual, corporation, or other entity to a taxing authority like the Internal Revenue Service (IRS). Demographic the collection and analysis of broad characteristics about groups of people and populations. Behavioral divides consumers according to behavior patterns as they interact with a company Psychographic the qualitative methodology of studying consumers based on psychological characteristics and traits such as values, desires, goals, interests, and lifestyle choices. Geographic when a business divides its market on the basis of geography. Angel Investors Private Investors who fund start up businesses IPO initial public offering. ESPO