| A | B |
|---|
| Ambiguity | Words or phrases with either a double meaning. |
| Analogies | Similarity of like features of two things. (Ex. Comparing) |
| Antitrust | Of or relating to legislation preventing or controlling trusts or other monopolies, with the intention of promoting competition in business. |
| Associations | A mental connection or relation between thoughts, feelings, ideas or sensations. |
| Attribute Listening | Focuses on an attribute or an object in order to determine how the attribute can be improved. (Ex. Cell phone features.) |
| Benefit | The personal satisfaction or advantage that a customer wants from a product. |
| Brainstorming | A creative group problem-solving technique that involves generating a large number of fresh ideas. |
| Break-Even Point | The amount of sales or revenues that it must generate in order to equal its expenses. In other words, it is the point at which the company neither makes a profit nor suffers a loss. |
| Business Concept | A clear and concise description of a business opportunity; it contains four elements: the product or service, the customer, the benefit, and the distribution. |
| Business Ethics | Applying principles of right and wrong to situations in the workplace. |
| Business Model | A description of how entrepreneurs plan to make money with their business concepts. |
| Business Plan | A document that describes a new business and a strategy to launch that business. |
| Chamber of Commerce | A local association to promote and protect the interests of the business community in a particular place. |
| Circumstantial Discovery | Occurs when an observation is made based on specific knowledge of time, place, or circumstance. |
| Code of Ethics | A systematic set of rules and procedures used to guide the behavior of an individual, a business, or a culture. |
| Company Description | Section of the business plan outlines the company’s background information and basic business concept. |
| Competition | The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. |
| Competitive Analysis | Section of the business plan should demonstrate that the proposed business has an advantage over its competitors. |
| Competitive Grid | A tool for organizing important information about a business venture’s competition. |
| Consensus | Agreement among a group of people. |
| Consumer Spending | The amount of money spent by households in an economy. |
| Culture | Consists of the beliefs, behaviors, objects, and other characteristics common to the members of a particular group or society. |
| Currency Rate/Exchange Rate | The price of a nation's currency in terms of another currency. An exchange rate thus has two components, the domestic currency and a foreign currency, and can be quoted either directly or indirectly. |
| Deflation | A general decline in prices, often caused by a reduction in the supply of credit or money. Can also be caused by a decrease in government, personal or investment spending. Has the side effect of increased unemployment since there is a lower level of demand in the economy, which can lead to an economic depression. |
| Demographic | The physical and social characteristics of the population. |
