6 Questions
What term refers to the process of creating a plan for achieving a specific goal in business?
Formulate strategy
When a company decides to no longer conduct business activities, what term is used to describe this action?
Cease trading
Which term describes the act of presenting a proposal to acquire a company or assets?
Put it in a bid
What term signifies the act of entering into a partnership with another entity to conduct business together?
Go into partnership
Which term is used to describe the intense and aggressive competition among companies in the same industry?
Cut-throat competition
What is the correct term for the financial outcome that occurs when a company's expenses exceed its revenue?
Make a loss
Study Notes
Business Terminology
- Strategic planning: the process of creating a plan for achieving a specific goal in business
- Liquidation: when a company decides to no longer conduct business activities
- Tender offer: the act of presenting a proposal to acquire a company or assets
- Joint venture: the act of entering into a partnership with another entity to conduct business together
- Cutthroat competition: the intense and aggressive competition among companies in the same industry
- Net loss: the financial outcome that occurs when a company's expenses exceed its revenue
Test your knowledge of business vocabulary by choosing the appropriate word from the given responses. Includes terms such as 'resource allocation', 'market forces', 'stiff competition', and more.
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