ESB Certification Exam Study Guide
with Complete Solutions Latest Updated
____ allows one to see and experience a customer's perspective - ANSWER-Empathy
____ are for-profit corporations with limited liability - ANSWER-S corporations
____ are ideal for international businesses - ANSWER-C corporations
____ are wealthy individuals willing to finance a business for an equity stake in the
business in return. - ANSWER-Angel investors
____ data provides information about a customer's age, gender, or ethnicity -
ANSWER-Demographic
____ employees are paid a fixed amount each pay period - ANSWER-Salary
____ is more accurate and reliable compared to secondary data - ANSWER-Primary
data
____ is the amount of loss one is willing to take when making an investment decision -
ANSWER-Risk tolerance
____ is the owner's remaining value after all liabilities have been deducted. - ANSWER-
Equity
____ is used by businesses to show them how much their investment is earning -
ANSWER-Return on investment (ROI)
____ is where an owner uses their own savings to fund a business. - ANSWER-
Bootstrapping
____ sales channels occur in person, where a customer can ask questions before
purchasing - ANSWER-Physical
A ____ analysis documents a company's strengths, weaknesses, opportunities , and
threats - ANSWER-SWOT
A ____ competitor is a business that sells similar products or services as another
business - ANSWER-direct
A ____ is a financial report that shows a company's assets, liabilities, and equity for a
specific period. - ANSWER-balance sheet
, A ____ is a method used to get a product from the manufacturer to the end-user. -
ANSWER-distribution channel
A ____ is a statement that explains why a customer should do business with a company
- ANSWER-value proposition
A ____ is used to identify the amount of cash a company is spending every month. -
ANSWER-burn rate
A ____ is used to make projections about a company's future performance. - ANSWER-
run rate
A ____ needs to be obtained to use a brand name on products - ANSWER-license
A ____ provides a brief overview of a business where one talks about the company's
mission and the value provided to customers - ANSWER-vision and value proposition
A ____ refers to the net profit the company wants to make from the sale and is usually
represented using a percentage. - ANSWER-profit margin
A ____ represents how much money it costs a business to make or obtain the products
or how much it costs a business to perform the service. - ANSWER-cost price
A ____ votes on the management of a company - ANSWER-stockholder
A business can use ____ to cut down on costs or to improve its product's function -
ANSWER-value engineering
A business must provide customers with quality products to maintain customer ____ -
ANSWER-satisfaction
A business opportunity is an ____ that lets a buyer start a business - ANSWER-
investment
A business plan helps a business achieve short-term and long-term ____ - ANSWER-
goals
A business should have clear ____ on how the customer service team should respond
to negative feedback - ANSWER-guidelines
A focus group was formed to provide opinions for a target market. What type of data is
being collected from thefocus group? - ANSWER-Primary
A key example of a ____ service many companies use is a software as a service
(SaaS) platform. - ANSWER-prebuilt
with Complete Solutions Latest Updated
____ allows one to see and experience a customer's perspective - ANSWER-Empathy
____ are for-profit corporations with limited liability - ANSWER-S corporations
____ are ideal for international businesses - ANSWER-C corporations
____ are wealthy individuals willing to finance a business for an equity stake in the
business in return. - ANSWER-Angel investors
____ data provides information about a customer's age, gender, or ethnicity -
ANSWER-Demographic
____ employees are paid a fixed amount each pay period - ANSWER-Salary
____ is more accurate and reliable compared to secondary data - ANSWER-Primary
data
____ is the amount of loss one is willing to take when making an investment decision -
ANSWER-Risk tolerance
____ is the owner's remaining value after all liabilities have been deducted. - ANSWER-
Equity
____ is used by businesses to show them how much their investment is earning -
ANSWER-Return on investment (ROI)
____ is where an owner uses their own savings to fund a business. - ANSWER-
Bootstrapping
____ sales channels occur in person, where a customer can ask questions before
purchasing - ANSWER-Physical
A ____ analysis documents a company's strengths, weaknesses, opportunities , and
threats - ANSWER-SWOT
A ____ competitor is a business that sells similar products or services as another
business - ANSWER-direct
A ____ is a financial report that shows a company's assets, liabilities, and equity for a
specific period. - ANSWER-balance sheet
, A ____ is a method used to get a product from the manufacturer to the end-user. -
ANSWER-distribution channel
A ____ is a statement that explains why a customer should do business with a company
- ANSWER-value proposition
A ____ is used to identify the amount of cash a company is spending every month. -
ANSWER-burn rate
A ____ is used to make projections about a company's future performance. - ANSWER-
run rate
A ____ needs to be obtained to use a brand name on products - ANSWER-license
A ____ provides a brief overview of a business where one talks about the company's
mission and the value provided to customers - ANSWER-vision and value proposition
A ____ refers to the net profit the company wants to make from the sale and is usually
represented using a percentage. - ANSWER-profit margin
A ____ represents how much money it costs a business to make or obtain the products
or how much it costs a business to perform the service. - ANSWER-cost price
A ____ votes on the management of a company - ANSWER-stockholder
A business can use ____ to cut down on costs or to improve its product's function -
ANSWER-value engineering
A business must provide customers with quality products to maintain customer ____ -
ANSWER-satisfaction
A business opportunity is an ____ that lets a buyer start a business - ANSWER-
investment
A business plan helps a business achieve short-term and long-term ____ - ANSWER-
goals
A business should have clear ____ on how the customer service team should respond
to negative feedback - ANSWER-guidelines
A focus group was formed to provide opinions for a target market. What type of data is
being collected from thefocus group? - ANSWER-Primary
A key example of a ____ service many companies use is a software as a service
(SaaS) platform. - ANSWER-prebuilt
