| A | B |
|---|
| Acquisition | The process of taking possession of something (e.g., acquiring another business by purchasing it) |
| Articulate | Clearly expressed |
| Bias | Prejudice, partiality |
| Business plan | A company’s blueprint for success; shows how the business works now and how it is intended to work in the future; the written business model |
| Chain of command | The flow of authority within an organization; also called line of command |
| Demographics | The physical and social characteristics of the population |
| Feasibility study | An organized inquiry into the possible success of a business idea or venture |
| Fixed costs | Business costs that are not affected by changes in sales volume |
| Logistics | The coordination of how a venture will come to life (e.g., work space, materials, technology, etc.) |
| Market analysis | A systematic study of the market |
| Merger | Two individual businesses that combine to form one organization |
| Operating expenses | All of the expenses involved in running a business |
| Organizational chart | A graphical representation of the flow of authority within an organization |
| Profitability analysis | A financial breakdown that allows owners/managers to determine when a business venture will break even or start turning a profit |
| Revenue | Income |
| Start-up costs | All of the expenses involved in setting up a new business or introducing a new product to the market |
| Unfeasible | Difficult, impossible |
| Variable costs | Business costs that change according to changes in sales volume |
