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30 Cards in this Set

  • Front
  • Back
Manufacturing businesses
produce products they sell
An example of manufacturing businesses?
*printing and publishing
*food products
What is wholesaling?
sell products to people other than the final costumer
An example of wholesaling?
* apparel (to other businesses)
*Hardware plumbing equipment
What is retailing?
Selling directly to consumers
*clothing stores (directlty to costumers)
*grocery stores
Example of retailing?
*Rue 21

What are service businesses?
selling services rather than products
What are examples of service businesses?
*house cleaning/ lawn care
What are the seven characteristics of an entrepreneur?
2. self confidence
3. determination and
4. goal-oriented
5. needs to achieve and set high standards for themsleves.
6. creative to act quickly
What is self-assesment?
An evaluation of your strengths and weaknesses
What is Aptitude?
the ability to learn a particular kind of job
What are the advantages of entrepreneurship?
* you are your own boss
*can choose the business that interests them
*can be creative
*can make lots of money
What are the disadvantages of entrepreneurship?
*always risky
*uncertain and irregular incomes
*work long hours
*must make all decisions by themselves
What are tradeshows?
special meetings where companies display their products (can be beneficial)
What type of goals should an entrepreneur set?
financial as well as nonfinancial
What are the eight basic rules of writing a business letter?
1. type all formal letters sure to spell all names correctly and have the correct address
3. always add a date to your letter
4.use names and titles appropriately
5. be direct and positive
6. be persuasive and specific
7. avoid using fancy language
8. be polite
what is a memeorandum?
a short written form of business communication that has a set format. (memo for short)
what is an interoffice memo?
memo from one person in a company to another
what are the five basic tips for a business telephone conversation?
1. speak clearly, and talk directly into the receiver
2. be careful
3. always speak politely
4.Think about what you are going to say before you make a call.
5. Take notes.
5 basic tips for meeting with customers and suppliers?
1. shake hands and make eye contact witht he person you are meeting.
2. show an interest in what the toher person is saying.
3.speak clearly
4. dont appear rushed or anxious to be somewhere else
5. thank the person at the end of the meeting
4 basic tips to improve you listening skills?
1. focus your attention on the person who is speaking
2. think about and try to understand what the other person is saying.
3. ask questions to make sure you understand what the person is saying.
4. take notes to confirm what you are hearing.
What is the principal?
the amount of money borrowed in a loan.
what is the rate of interest?
the percent that is the basis for interest earned or paid.
What is the "term" of loan?
number of years for which a loan is extended.
What is a markup?
amount added to the cost price to determine the sales price.
What is a markdown?
is an amount deducted from the retail price to determine the sales price.
What is a discount?
a reduction in the retail or wholesale price of a product or service
What are the 6 basic steps of the problem solving model?
1.define the problem
2. gather information
3. identify various solutions
4.evaluate alternatives
5.take action
6. evaluate the action
What is brainstorming?
a creative group problem solving technique that involves generating a large number of fresh ideas
what is consensus?
an agreemant among a group of people