A person hired to work for a company in exchange for wages or salary.

A business owned by two or more people who share profits, losses, and responsibilities.

A corporation that avoids double taxation by passing profits and losses directly to shareholders (limited to 100 shareholders).

A standard corporation that is taxed separately from its owners; can have unlimited shareholders.

Limited Liability Company (LLC)

A business structure that protects owners from personal liability while offering flexible management and tax benefits.

A business owned and operated by one individual; simplest business structure.

An organization formed for purposes other than making a profit, often focused on social or community goals.

A person who takes the risk of starting and running a business.

A privately owned business with fewer employees and smaller revenue compared to large corporations.

Small Business Administration (SBA)

A U.S. government agency that supports small businesses through loans, advice, and resources.

A business model where a person buys the rights to operate a business under an established company’s brand (e.g., McDonald’s).

A tangible item a business sells to customers (e.g., shoes, electronics).

An activity or task a business provides for customers (e.g., tutoring, lawn care).

B2C (Business-to-Consumer)

Businesses that sell products or services directly to individual consumers.

B2B (Business-to-Business)

Businesses that sell products or services to other businesses.

A chance to create or grow a business by meeting customer needs in a new or better way.

The ability to depend on yourself for decisions, problem-solving, and actions without always needing help from others.

Opportunity Recognition

The skill of noticing unmet needs or gaps in the market that could be turned into a business idea.

Taking action on your own without being told, and showing leadership to get things started.

The ability to recover quickly from setbacks, failures, or challenges and keep moving forward.

A mix of passion and perseverance — sticking with goals over time even when things get tough.

Willingness to take chances and accept uncertainty when trying something new in business.

Believing that skills and abilities can improve through effort, practice, and learning.

Carefully analyzing information and situations to make logical and informed decisions.

Creativity and Innovation

Using imagination to come up with new ideas and turning them into useful products, services, or solutions.

Working well with others to reach a shared goal.

Finding solutions when obstacles or challenges arise.

Taking ownership of your choices, actions, and learning instead of waiting for others to decide for you.

Acting honestly, fairly, and responsibly in all business activities.

Social Responsibilities

The idea that businesses should make choices that are good for society and the community, not just for profit.

A brief overview of a business plan that highlights the main points — such as the business idea, goals, target market, and financial needs.

A written strategy that explains how a business will promote its products or services to reach customers.

Organizational Structure

How a company is arranged, showing roles, responsibilities, and reporting relationships.

A part of the business plan that includes budgets, funding needs, sales forecasts, and financial statements.

A detailed document that outlines a business idea, goals, strategies, and plans for growth.

A short presentation (usually in slides) used to explain a business idea to investors or partners.

A one-page business plan template that helps entrepreneurs quickly map out key parts of their business idea.

A business model where salespeople earn money from selling products and from recruiting others to join the business.

When a company allows another business to use its brand, logo, or product in exchange for a fee or royalty.

The possibility of losing money due to poor sales, debt, or bad investments.

Risks from natural disasters or environmental issues that can harm a business (e.g., floods, pollution regulations).

Risks that come from changes in government policies, laws, or political instability.

Any additional risks a business may face, such as technological changes, social trends, or supply chain disruptions.

ESB GMetrix Domain 1 Vocabulary Flashcards

Student preview

50 questions

Show all answers

1.

FLASHCARD QUESTION

Front

CEO (Chief Executive Officer)

Back

The top executive responsible for overall management and decision-making in a company.

2.

FLASHCARD QUESTION

Front

CFO (Chief Financial Officer)

Back

Executive in charge of managing a company’s finances, including budgets, investments, and financial planning.

3.

FLASHCARD QUESTION

Front

COO (Chief Operating Officer)

Back

Executive responsible for overseeing daily operations and ensuring business runs smoothly.

4.

FLASHCARD QUESTION

Front

CTO (Chief Technology Officer)

Back

Executive in charge of technology strategy, product development, and IT systems.

5.

FLASHCARD QUESTION

Front

Founder

Back

The person who starts and establishes a business or company.

6.

FLASHCARD QUESTION

Front

Stakeholder

Back

Anyone who has an interest in the success of a business (employees, customers, investors, community).

7.

FLASHCARD QUESTION

Front

Stockholder (Shareholder)

Back

A person who owns shares (stock) in a company and may receive profits (dividends).

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