HSB 1-4 Vocabulary

3. A document outlining a company’s goals, strategies, financial forecasts, and operational structure.
8. A specific group of people that a business focuses on selling its products or services to.
10. Consumer groups in various countries that a business aims to reach.
13. Distinct groups within a larger market that share similar traits or needs.
17. Innovations and advancements that influence how businesses function and compete.
18. The potential profitability and growth opportunities within a specific market.
19. A favorable situation that allows a company to grow or generate revenue.
20. Data that describes characteristics of a population, such as age, gender, and income.

1. The continuous assessment of factors like sustainability and regulations that impact a business.
2. The process of observing external influences that may affect business operations.
4. The methods used to create products and deliver them to consumers.
5. The practice of dividing a market into smaller groups to identify the best audience for a product.
6. The estimated demand for a product or service in a given market.
7. The external and internal factors that affect how a business operates.
9. The structured steps a business follows to set goals, create strategies, and implement plans.
11. A system where goods, services, or information are exchanged between buyers and sellers.
12. The expansion of industries, job creation, and overall financial growth in an economy.
14. The process of collecting and analyzing data to understand consumer preferences and industry trends.
15. Shifts in financial conditions, such as inflation, recession, or consumer spending habits.
16. External challenges that could negatively impact a company’s success.