ESB Certification Test
Angel Investors - ANS-Private Investors who fund start up businesses
B2B (business-to-business) - ANS-Sells products and services directly to other businesses.
Normally requires a sales tax exemption certificate from the buyer.
B2C (business-to-consumer) - ANS-Sells products and services directly to customer for
personal use.
Balance Sheet - ANS-A summary of business assets (what the business owns) and liabilities
(what the business owes). Mortgage and bank loans are liabilities. Equipment is long term
assets, and inventory are current assets.
Behavioral Segment - ANS-Benefits to customers based on their wants and needs.
Bundle Pricing Strategy - ANS-The marketing of two or more products in a single package price.
Business cycle - ANS-1. Existence
2. Survival
3. Success
4. Take- Off
5. Maturity
Business Plan - ANS-A multi-page document describing and detailing a business. The goal is to
get investors to buy in. It is text based, and has 10 to 100 pages.
Business Plan Components - ANS-Executive summary; Product/service plan; Management
team plan; Industry/market analysis; Operational plan; Organizational plan; Marketing plan;
Financial plan; Growth plan
Business sustainability - ANS-The long-term viability of a business related to its financial results,
social performance, and environmental impact.
BY - ANS-Credit must be given to creator.
C Corporation (Companies) - ANS-is a legal structure used for when the company plans to sell
stock to the public. It has unlimited shareholders (not responsible for liabilities) that are taxed
twice (corporates level and income received). A separate tax return is required for business.
CC: Creative Commons - ANS-A kind of copyright that makes it easier for people to copy, share,
and build on your creative work, as long as they give you credit for it.
, Chamber of Commerce - ANS-Nonprofit organization of local businesses formed to promote
their interests
Cheif Executive Officer (CEO) - ANS-Highest ranking employee in the company; Reports to the
board of directors.
Chief Financial Officer (CFO) - ANS-Creates budgets, analyzes financial data, and forecast
company profits. (Finances)
Chief Information Officer (CIO) - ANS-Develops polices and structures to protect company data.
(Technical)
Chief Operating Officer (COO) - ANS-Oversees the day to day administrative functions of
business. (Communications)
Commission - ANS-An amount paid to an employee based on a percentage of the employee's
sales.
Copyright - ANS-Protects an original work such as art, writings, or music.
Customer Relations Management (CRM) - ANS-System is most useful in helping customer
service support sales strategies because it ensures customers interactions via email, live chat,
and telephone.
Debt financing - ANS-Debt financing requires borrowing money, creditors look favorably upon a
relatively low debt ration, which benefits the company if it needs to access additional financing.
Demographic Segment - ANS-Statistical information about customers.
Digital business - ANS-sells their goods or services online.
Direct Competition - ANS-Is any company that offers the same thing as you.
Direct Distribution - ANS-is a direct sale between the manufacturer and the consumer. Also
known as zero level channel.
Direct to Customer - ANS-Sells directly to customer and end users of their product.
Economy Pricing - ANS-Targeting customers looking to save as much money as possible.
Elements of the design thinking process - ANS-1. Empathize: Research users needs
2. Define: State your users needs and problems
3. Ideate: Challenge Assumptions and create idea
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 AnswersCOM. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $11.49. You're not tied to anything after your purchase.
