ESB certification vocabulary (2022/2023)
Rated A
Break Even Formula ✔✔To calculate the break-even point in units use the formula: Break-Even
point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per uni
...
ESB certification vocabulary (2022/2023)
Rated A
Break Even Formula ✔✔To calculate the break-even point in units use the formula: Break-Even
point (units) = Fixed Costs ÷ (Sales price per unit - Variable costs per unit) or in sales dollars
using the formula: Break-Even point (sales dollars) = Fixed Costs ÷ Contribution Margin.
Driving Sales ✔✔the largest automotive marketing resource and car dealer social network,
providing industry best practices and more
Inventory Loan ✔✔The loan is collateralized by the inventory it is used to purchase.
Operating Loan ✔✔(also called a line of credit) is a short-term, flexible loan that a business can
use as needed to borrow up to a pre-set amount of money.To ensure it will be repaid, the bank
will often include a claim on the company's inventory and accounts receivable as part of the loan
agreement.
Tenacious ✔✔tending to keep a firm hold of something; clinging or adhering closely
Competency ✔✔a set of particular abilities and knowledge that sets a company apart from its
competitors.
Non-Profit Organization ✔✔organization is a group organized for purposes other than
generating profit and in which no part of the organization's income is distributed to its members,
directors, or officers.
Storefront ✔✔Store exterior which reflects on the image of the business
Tax Liability ✔✔the total amount of tax debt owed by an individual, corporation, or other entity
to a taxing authority like the Internal Revenue Service (IRS).
Demographic ✔✔the collection and analysis of broad characteristics about groups of people and
populations.
Behavioral ✔✔divides consumers according to behavior patterns as they interact with a company
Psychographic ✔✔the qualitative methodology of studying consumers based on psychological
characteristics and traits such as values, desires, goals, interests, and lifestyle choices.
Geographic ✔✔when a business divides its market on the basis of geography.
Angel Investors ✔✔Private Investors who fund start up businesses
IPO ✔✔initial public offering.
ESPO ✔✔Eastern Shires Purchasing Organisation
Management Buyout ✔✔a leveraged buyout in which the firm's top managers become
significant shareholders in the acquired firm.
Patent ✔✔Gives the holder the sole right to make, use or sell an invention for a set period of
time, preventing others from using it without permission
Copyright ✔✔Gives someone the exclusive right to publish, produce, sell, or distribute works of
literature, music, art, and software
Trademark ✔✔A word, symbol, or design, or a combination of these, used to distinguish one
company's goods or services from others
Invention ✔✔A product or process that does something that has never been done before
Intellectual Property Rights ✔✔Something that comes from a person mind such as an idea
invention or process
Variable Costs ✔✔Expense that can go up and down during the budget period
Fixed Costs ✔✔costs that remain the same regardless of level of production or services offered
Harvesting ✔✔The process used by entrepreneurs and investors to reap the value of their
investment in a business when they leave it.
Outsourcing ✔✔where a company contracts with a third party to do some of the company's work
on its behalf.
Chamber of Commerce ✔✔nonprofit organization of local businesses formed to promote their
interests
Zoning Variance ✔✔an exception to a zoning ordinance that's granted on a case-by-case basis by
a local government.
Permit ✔✔any approvals, permits, filings, registrations, etc which the Company is required to
have for legally and validly operating all its businesses, including without limitation, Business
License of Corporate Legal Person, Operation Permit of Value-added Telecommunication
Service and such other relevant permits and licenses as required by the then-effective PRC Law.
License ✔✔the process that gives a company the right to use another's brand name, patent, or
other intellectual property for a royalty or fee through a written, legal agreement.
Certificate ✔✔Professional status earned by an individual after passing an exam focused on a
specific body of knowledge
IRS ✔✔Internal Revenue Service
Unique Selling Proposition ✔✔A marketing strategy that focuses on a product's special feature,
one that is not carried by any other product or on special offerings, bonuses, and promos to
entice customer interest and attention.
Value Proposition ✔✔the benefits customers can expect from your product or service.
LLC ✔✔A hybrid form of business, which is taxed like a partnership while offering owners the
limited liability of a corporation
Sole Proprietorship ✔✔A form of business that is owned and operated by one person.
Corporation ✔✔Business that is legally separate from it's owners and has most of the legal rights
of an actual person.
Limited Liability ✔✔Form of business ownership that combines the benefits of a corporation
with those proprietorships and all partnerships
Liability ✔✔legal responsibility
Book Value ✔✔the balance sheet value of the assets, liabilities and equity.
Annual Earnings ✔✔The number of hours worked multiplied by the hourly rate.
Cost of Goods Sold ✔✔the cost of the inventory which was sold, includes goods that are lost,
broken, or stolen
[Show More]
