Business Concepts Flashcards

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Elevator pitch

Back

A brief, persuasive speech to spark interest in what your organization does.

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Pitch

Back

A presentation or proposal to persuade someone to buy or invest in a product or idea.

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Strategy

Back

A plan of action designed to achieve a long-term or overall aim.

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A loss

Back

When expenses exceed revenues, resulting in a negative financial outcome.

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Startup cost

Back

The expenses incurred during the process of creating a new business.

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Revenue

Back

The income generated from normal business operations.

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Patent

Back

A government authority or license conferring a right or title for a set period.

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Franchise

Back

A type of license that allows a franchisee to access a business's proprietary knowledge, processes, and trademarks.

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Market research

Back

The process of gathering, analyzing, and interpreting information about a market.

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Focus group

Back

A diverse group of people assembled to participate in a guided discussion about a product before it is launched.