Intro to Business Semester 1 Exam Review

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Across
  1. 2. Identifying, understanding and predicting circumstances or events that might have negative consequences, and taking proactive measures to avoid these risks and effectively combat them if/when they occur.
  2. 10. When products or services are not the same, but they could satisfy the same need, i.e. bicycles are indirect competition to automobiles.
  3. 11. An organizational structure that shows who each person reports to.
  4. 15. A market where one company controls the supply of a good or service, where other options for consumers aren't readily available, and where the barriers to entry for other companies are highly restrictive.
  5. 16. A business model used by companies who provide their services for free, and sell advertising space to fund their businesses.
  6. 18. The liability that extends beyond an individual’s financial investment in a company.
  7. 19. A route or plan of action designed to achieve certain goals and objectives.
  8. 20. Information that you collect directly from first-hand experience.
  9. 21. A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.
  10. 24. A hybrid business structure, where it combines the operational characteristics of a sole proprietorship or partnership while limiting the liability of the investors to the amount they invested.
  11. 26. Refers to the people who work in an organization, and the group that staffs the organization, maintains personnel records, and administers benefits like medical insurance.
  12. 27. A business model that charges a regularly scheduled fee, usually monthly or annually, for their products or services.
Down
  1. 1. When companies offer essentially the same product or service, i.e. Coke and Pepsi, Ford and GM.
  2. 3. A corporation that meets specific Internal Revenue Code requirements and passes corporate income (or loss) through to its shareholders for federal tax purposes.
  3. 4. Crowdfunding collects small amounts of capital from a large number of individuals to finance a new business venture or various other needs or projects.
  4. 5. Refers to planning, organizing, staffing, controlling and leading people, processes, and assets in order to achieve a goal or task in the best way possible.
  5. 6. The making of products from raw materials and other inputs like labor, machinery, and tools.
  6. 7. The daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics.
  7. 8. A market where a small number of companies control the supply of a good or service, and where the barriers to entry for other companies are highly restrictive.
  8. 9. A business owned by one person, and where the owner has unlimited liability.
  9. 12. A business model provides low price points for the cost-sensitive consumer, also often called Low Cost Providers.
  10. 13. The protection of networks, devices, and data from unauthorized access or criminal use, and the practice of ensuring the confidentiality, integrity, and availability of information.
  11. 14. A legal entity that is separate from its owners and controlled by a board of directors; the entity has most of the same rights and responsibilities that individuals possess but offers limited liability.
  12. 17. A business model where a company offers some basic services for free, and then charges money for certain additional features.
  13. 22. A company's purpose; its reason for being; the problem it is solving.
  14. 23. An aspirational view of the future, that if the company is successful in accomplishing its mission, the company and/or world might look a certain way.
  15. 25. A business owned by two or more people.