ESB Certification Questions and Answers 2023

ESB Certification Questions and Answers 2023 Nonprofit a type of business that has no owner and does not pay Federal US taxes Marketing Plan a written plan that outlines a company's marketing strategies Angel investor An investor who provides funding to a business for a stake in the business in return. C Corporation A business structure that allows the company to pass its income, losses, deductions, and credits through its shareholders to decrease their taxation. variable costs fluctuating that a business has depending on production commission a fee paid to an employee for completing a task partners Two or more individuals that share a business's financial responsibility. brand recognition The level of familiarity one has with a brand. self-reliance trusting one's self, goals, and progress ROI Return on investment is a calculation used to determine how much an investment is making stockholder an individual that ones at least one share in a corporation's stock customer retention Activities or strategies employed by a business to retain existing customers. copyright a form of protection individuals can implement to protect their intellectual property. designated for print, music, film, and various other forms of creative licenses income statement a financial statement that details a business's revenue and expenses for a given period distribution channel a method used to get a product from the manufacturer to the end-users pitch deck A presentation given to potential investors to provide a brief overview of the business plan to earn another meeting. franchise a business that takes its name and characteristics from an existing business chain sales pitch A persuasive speech prepared to entice a potential customer to purchase a service or good. customer an individual or business that buys goods and services from a business Sole Proprietorship A business owned by one person, not shielded from any amount of liability Trademark a practice used to protect brand names, logos, and business names founder the person that developed or created a company or organization intellectual property a creative work or invention to which an individual has been given rights fixed costs costs that a business has that remain the same no matter the volume of production stakeholder an individual with in interest in a business bootstrapping A business owner that uses their own money to fund their business. SWOT analysis a planning tool used to analyze an organization's strengths, weaknesses, opportunities, and threats Entrepreneur an individual who aspires to start and run a successful business equity non-cash compensations offered to employees in place of or in addition to a lower salary ethical practices Standards of professional conduct professionals should uphold. fixed cost costs a business has that remain the same no matter the volume of production