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EOPA CRAM Part 1

EOPA CRAM

QuestionAnswer
What is a corporation? It is a company or group of people authorized to act as a single entity (legally a person).
What is a Limited Liability Company (LLC)? It is a legal business entity that provides business owners with a lower level of liability.
What is a partnership? It is a business owned and operated by two or more people.
What is a sole proprietorship? It is the simplest form of business and is owned and operated by one person.
What is an S corporation? It is a corporation that does not pay any federal income taxes.
What is a C Corporation? It is a legal structure that businesses can choose to organize themselves under to limit their owners' legal and financial liabilities.
What is a SWOT Analysis? It is an analysis that evaluates strengths, weaknesses, opportunities and threats. Strengths an weaknesses are internal and opportunities and threats are external.
What is the Five -Forces Model by Porter? It is a model designed to understand how five key competitive forces are affect an industry. The five forces identified are: industry rivalry, bargaining power of suppliers, bargaining power of buyers, threat of substitutes, and threat of entry.
What is a Disaster Recovery Plan (DRP)? It is a documented process or set of procedures to recover and protect a business IT infrastructure in the event of a disaster. It is usually documented in written form and specifies procedures an organization is to follow in the event of a disaster.
What is the Growth Share Matrix by Boston Consulting Group? It is a planning tool that uses graphical representations of a company’s products and services in an effort to help the company decide what it should keep, sell or invest more in.
Created by: mschudson
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