Unit 1.01 Key Terms

2. Indicators for evaluating factors that are crucial to the success of a business.
5. An idea for a new business that can be tested.
8. A fluid, simple diagram that captures a business model.
9. The group a business is interested in making the focus of all
12. Money that comes into the business.
13. company’s efforts.
14. A thing that you can touch or a service that you can offer which is sold to your customers.

1. The favorable position an organization seeks to be more profitable than its competitors.
3. mission statement.
4. The pathways to customers; accomplished through advertising.
6. A single, clear, compelling message describing a
7. The fixed and variable costs.
10. One who organizes, manages, and assumes the risks of a business or enterprise.
11. All the expenses required to start your business.