Exam (elaborations)
ESB CERTIFICATION EXAM (Q/A) 2023
- Course
- Institution
ESB CERTIFICATION EXAM (Q/A) 2023
[Show more]
Seller
Follow
Studycafe
Reviews received
Content preview
ESB CERTIFICATION EXAM (Q/A) 2023Entrepreneurship ✔️Ans - the process of starting, organizing, managing,
and assuming the responsibility for a business
- to make a profit
S corporation ✔️Ans - - small business
- 100 max shareholders
- taxed once
C Corporation ✔️Ans - - public corp/stock
- unlimited shareholders
- taxed twice
Sole Proprietorship ✔️Ans - a business owned and managed by a single
individual
- taxed once
LLC (Limited Liability Company) ✔️Ans - - liability protection
- unlimited members, NO SHAREHOLDERS
Stage 1 (Business Life Cycle) ✔️Ans - existence
Stage 2 of business life cycle ✔️Ans - survival of the fittest
stage 3 of business life cycle ✔️Ans - success
stage 4 of business life cycle ✔️Ans - takeoff
Stage 5 of business life cycle ✔️Ans - maturity
empathize ✔️Ans - Research your users' needs
define ✔️Ans - State your users' needs and problems
ideate ✔️Ans - Challenge assumptions and create ideas
, prototype ✔️Ans - create solutions
test ✔️Ans - try the prototype/solution
characteristics of a small business ✔️Ans - - less than 35.5 mil in revenue
- 1500 employees or less
CEO (Chief Executive Officer) ✔️Ans - highest officer of the company
CFO (Chief Financial Officer) ✔️Ans - Creates budgets, analyzes financial
data, and forecasts company profits.
CIO ✔️Ans - Develops policies and structures to protect company data.
coo ✔️Ans - Chief Operating Officer; oversees day to day admin functions
Existence definition ✔️Ans - business introduces itself to market, wanting
to catch attention to customers
survival of the fittest ✔️Ans - focus shifts to revenue, cashflow!
success ✔️Ans - stable, profitable
takeoff ✔️Ans - Expansion strategies are implemented, and investment is
balanced with potential.
maturity ✔️Ans - business is seperate from owner, may be a household
name
disadvantages of physical products ✔️Ans - need storage, need employees
to track supply, shipping and packaging fees
B2B (business-to-business) ✔️Ans - the process of selling merchandise or
services from one business to another
B2C (business-to-consumer) ✔️Ans - A commercial exchange (e.g.,
products or services) between businesses and consumers conducted over the
Internet.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Studycafe. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now