Podcast
Questions and Answers
What term refers to the process of creating a plan for achieving a specific goal in business?
What term refers to the process of creating a plan for achieving a specific goal in business?
- Objective
- Resource allocation
- Mission statement
- Formulate strategy (correct)
When a company decides to no longer conduct business activities, what term is used to describe this action?
When a company decides to no longer conduct business activities, what term is used to describe this action?
- Invade a market
- Cease trading (correct)
- Establish a foothold in a market
Which term describes the act of presenting a proposal to acquire a company or assets?
Which term describes the act of presenting a proposal to acquire a company or assets?
- Go public
- Put it in a bid (correct)
- Strategic acquisition
- Make a loss
What term signifies the act of entering into a partnership with another entity to conduct business together?
What term signifies the act of entering into a partnership with another entity to conduct business together?
Which term is used to describe the intense and aggressive competition among companies in the same industry?
Which term is used to describe the intense and aggressive competition among companies in the same industry?
What is the correct term for the financial outcome that occurs when a company's expenses exceed its revenue?
What is the correct term for the financial outcome that occurs when a company's expenses exceed its revenue?
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
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Description
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.
