Some Biz Jargon!

What does "synergy" refer to in a business context?

• A legal merger of two companies

• Combined efforts resulting in greater outcomes

• The process of downsizing staff

• Market competition between similar firms

A "pivot" in a startup means:

• Ignoring customer feedback

• Expanding internationally

• Changing business strategy based on insights

• Buying out a competitor

"Low-hanging fruit" refers to:

• Difficult but rewarding tasks

• Easy opportunities with quick returns

• Tasks that require significant resources

• High-value long-term goals

"Scalability" in a business model means:

• Ability to shrink costs

• Ability to expand efficiently

• Employee satisfaction

• Market monopoly

The term "KPIs" stands for:

• Key Personal Insights

• Key Productivity Initiatives

• Key Performance Indicators

• Knowledge Process Inputs

"Disruption" in the business world often refers to:

• Market instability

• Innovation that changes industry norms

• Poor management decisions

• Political interference

What does "leverage" mean in business strategy?

• Taking on more staff

• Increasing marketing budget

• Using resources for maximum advantage

• Reducing product lines

"Burn rate" is a term primarily used in:

• Financial auditing

• Corporate law

• Startups to track spending

• Branding campaigns

"Value proposition" is best defined as:

• A business's legal framework

• The cost of customer acquisition

• The benefit a company promises to deliver

• A proposal to raise capital

"Blue ocean strategy" focuses on:

• Competing in saturated markets

• Creating new, uncontested market space

• Offering lower prices than competitors

• High-risk stock investments