ESB Certification Exam Study Guide
____ allows one to see and experience a customer's perspective - ANS-Empathy
____ are for-profit corporations with limited liability - ANS-S corporations
____ are ideal for international businesses - ANS-C corporations
____ are wealthy individuals willing to finance a business for an equity stake in the business in
return. - ANS-Angel investors
____ data provides information about a customer's age, gender, or ethnicity -
ANS-Demographic
____ employees are paid a fixed amount each pay period - ANS-Salary
____ is more accurate and reliable compared to secondary data - ANS-Primary data
____ is the amount of loss one is willing to take when making an investment decision -
ANS-Risk tolerance
____ is the owner's remaining value after all liabilities have been deducted. - ANS-Equity
____ is used by businesses to show them how much their investment is earning - ANS-Return
on investment (ROI)
____ is where an owner uses their own savings to fund a business. - ANS-Bootstrapping
____ sales channels occur in person, where a customer can ask questions before purchasing -
ANS-Physical
A ____ analysis documents a company's strengths, weaknesses, opportunities , and threats -
ANS-SWOT
A ____ competitor is a business that sells similar products or services as another business -
ANS-direct
A ____ is a financial report that shows a company's assets, liabilities, and equity for a specific
period. - ANS-balance sheet
A ____ is a method used to get a product from the manufacturer to the end-user. -
ANS-distribution channel
, A ____ is a statement that explains why a customer should do business with a company -
ANS-value proposition
A ____ is used to identify the amount of cash a company is spending every month. - ANS-burn
rate
A ____ is used to make projections about a company's future performance. - ANS-run rate
A ____ needs to be obtained to use a brand name on products - ANS-license
A ____ provides a brief overview of a business where one talks about the company's mission
and the value provided to customers - ANS-vision and value proposition
A ____ refers to the net profit the company wants to make from the sale and is usually
represented using a percentage. - ANS-profit margin
A ____ represents how much money it costs a business to make or obtain the products or how
much it costs a business to perform the service. - ANS-cost price
A ____ votes on the management of a company - ANS-stockholder
A business can use ____ to cut down on costs or to improve its product's function - ANS-value
engineering
A business must provide customers with quality products to maintain customer ____ -
ANS-satisfaction
A business opportunity is an ____ that lets a buyer start a business - ANS-investment
A business plan helps a business achieve short-term and long-term ____ - ANS-goals
A business should have clear ____ on how the customer service team should respond to
negative feedback - ANS-guidelines
A focus group was formed to provide opinions for a target market. What type of data is being
collected from thefocus group? - ANS-Primary
A key example of a ____ service many companies use is a software as a service (SaaS)
platform. - ANS-prebuilt
A lean canvas should only be ____ long - ANS-one page
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