An individual who owns and manages a small-sized business.

A person responsible for planning and overseeing operations and employees within a business.

The chance of loss or failure in business.

The creation of new ideas, products, or methods to improve business success.

Identifying potential markets or unmet needs for new products or services.

A new business endeavor or enterprise.

A newly established business often focused on a unique product or service.

Moral principles that guide behavior in business.

A formal document outlining a company’s ethical principles and standards.

Keeping sensitive company or customer information private.

A situation where personal interest might interfere with professional duty.

Adherence to moral and ethical principles.

Reliance on the honesty and reliability of a business or individual.

Being accountable for one’s actions and decisions.

A business owned and run by one individual with no legal distinction between the owner and the business.

A business owned by two or more individuals sharing profits, losses, and liabilities.

A legal entity separate from its owners, offering limited liability.

A business model allowing individuals to operate under a larger company’s brand and system.

Protection for business owners from being personally responsible for business debts.

The legal form of a business that affects taxes, liability, and operations.

Rules imposed by government to control business practices.

The reduction or elimination of government rules on business.

Laws and measures designed to safeguard buyers of goods and services.

The legal permission to operate a certain type of business.

Local government rules that regulate land use.

Laws that promote competition and prevent monopolies.

Regulations that protect the environment from business activities.

Analysis of external and internal factors affecting a business.

A strategic planning tool that identifies strengths, weaknesses, opportunities, and threats.

A general direction in which something is developing or changing.

The process of gathering information about competitors.

Government policies and regulations that influence business.

Statistics that provide insight into economic performance.

An analysis to determine whether a business idea is viable.

Assessment of potential customer demand and market conditions.

Evaluation of whether a business can be successfully operated.

Determining if a business can be profitable and secure funding.

Assessment of whether required technology and resources are available.

A combination of product, price, place, and promotion used to market a product.

The good or service being offered.

The amount charged for a product.

The distribution channels through which a product reaches customers.

Marketing communications used to inform or persuade customers.

A plan of action to achieve business goals.

Specific actions used to implement strategies.

Broad, long-term aims a business seeks to achieve.

A feature or benefit that makes a product or service stand out.

The promise of value to be delivered to customers.

Making a product or service different from competitors.

An advantage that gives a company superiority over competitors.

Establishing a brand or product in the customer’s mind.

A group of potential buyers of a product or service.

A specific group of consumers a business aims to serve.

Statistical data about a population such as age or income.

Lifestyle and personality characteristics of consumers.

Dividing a market based on location.

Dividing a market based on consumer behavior or usage.

The path a product takes from producer to consumer.

A person or business that helps move products from producer to consumer.

A business that buys in bulk from producers and sells to retailers.

A business that sells products directly to consumers.

Selling directly to the end customer.

Using intermediaries to get products to consumers.

The coordination of movement and storage of goods.

The process of buying goods and services.

Strategic process of acquiring goods and services.

A seller or supplier.

An offer to provide goods or services at a stated price.

A binding agreement between two or more parties.

The goods and materials a business keeps on hand.

Ongoing business expenses not directly attributed to creating a product.

Expenses that remain constant regardless of production level.

Costs that vary with the level of output.

Costs that have both fixed and variable components.

Costs associated with running a business daily.

The process of creating goods or services.

Resources such as labor, materials, and capital used in production.

The finished goods or services produced.

Large-scale manufacturing of standardized products.

Organizing resources and processes for manufacturing.

Setting a price for a product or service.

An illegal agreement between competitors to set prices.

The amount added to cost to determine selling price.

A reduction from the original selling price.

Pricing based on the cost of production plus a markup.

Pricing based on consumer demand.

Pricing based on competitors’ prices.

Estimating future sales based on past data and trends.

Analyzing historical data to identify patterns.

Past records used to predict future performance.

Collecting and analyzing information about consumers and markets.

Using numerical data to predict future outcomes.

Using expert judgment and opinions to predict future outcomes.