ESB Vocabulary

🎓 100 Essential Vocabulary Words Every Student Needs to Pass the ESB Certification

Are you a high school student preparing to take the Entrepreneurship and Small Business (ESB) Certification from Certiport? Whether you're dreaming of launching your own company or just looking to better understand how businesses work, mastering the right vocabulary is key to your success.

The ESB exam isn’t just about having big ideas—it’s about understanding how real businesses operate, grow, and succeed. Here's your ultimate list of 100 vocabulary words you must know to earn your certification and confidently navigate the world of entrepreneurship.

🧠 Business Fundamentals

These terms build your foundation as a future entrepreneur:

1. Entrepreneur – A person who starts and runs a business.

2. Business Plan – A detailed document outlining a business’s goals and how they will be achieved.

3. Startup – A new business in its early stages.

4. Sole Proprietorship – A business owned by one individual.

5. Partnership – A business owned by two or more people.

6. Corporation – A legal entity separate from its owners.

7. Limited Liability Company (LLC) – A business structure that combines the benefits of a corporation and a partnership.

8. Franchise – A business that uses another company's name and model.

9. Business Model – A plan for how a company makes money.

10. Value Proposition – The unique value a business offers to its customers.

11. Mission Statement – A company’s reason for existing.

12. Vision Statement – What a company aims to achieve in the future.

13. SWOT Analysis – Evaluation of strengths, weaknesses, opportunities, and threats.

14. Innovation – Creating something new or improving existing ideas.

15. Industry – A category of businesses offering similar products or services.

16. Market – A group of potential customers.

17. Niche Market – A specialized segment of the market.

18. Competitive Advantage – Something that sets a business apart.

19. Scalability – A business’s ability to grow without being held back by its structure.

20. Exit Strategy – A plan for how an owner will leave the business.

📣 Marketing & Sales

To succeed in business, you need to market effectively:

21. Target Market

22. Demographics

23. Psychographics

24. Customer Persona

25. Marketing Mix (4Ps)

26. Product

27. Price

28. Promotion

29. Place (Distribution)

30. Branding

31. Logo

32. Slogan

33. Marketing Strategy

34. Advertising

35. Social Media Marketing

36. Word-of-Mouth

37. Public Relations

38. Sales Funnel

39. Conversion Rate

40. Customer Relationship Management (CRM)

These terms help you build brand awareness, attract customers, and drive revenue.

💰 Finance & Accounting

Business is about the numbers. Know these terms:

41. Revenue

42. Profit

43. Gross Profit

44. Net Profit

45. Cost of Goods Sold (COGS)

46. Overhead

47. Break-Even Point

48. Cash Flow

49. Income Statement

50. Balance Sheet

51. Assets

52. Liabilities

53. Equity

54. Budget

55. Forecasting

56. Accounts Payable

57. Accounts Receivable

58. Working Capital

59. Depreciation

60. Return on Investment (ROI)

Understanding these concepts is crucial for managing and growing a profitable venture.

⚖️ Legal & Compliance

Protect yourself and your business by knowing the law:

61. Copyright

62. Trademark

63. Patent

64. Intellectual Property (IP)

65. Contract

66. Non-Disclosure Agreement (NDA)

67. Business License

68. Zoning Laws

69. Liability

70. Insurance

71. Employment Law

72. Ethics

73. Code of Conduct

74. Compliance

75. Tax ID / EIN

76. Incorporation

77. Terms and Conditions

78. Privacy Policy

79. Bankruptcy

80. Regulatory Agency

These terms ensure you operate legally and ethically.

🧩 Operations & Management

Running a business is about organizing resources and people:

81. Supply Chain

82. Inventory

83. Logistics

84. Quality Control

85. Procurement

86. Productivity

87. Standard Operating Procedures (SOPs)

88. Human Resources (HR)

89. Organizational Chart

90. Leadership

91. Delegation

92. Time Management

93. Strategic Planning

94. Milestones

95. KPI (Key Performance Indicator)

96. Project Management

97. Risk Management

98. Business Development

99. Elevator Pitch

100. Networking

     
     

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     💼 Certiport & Certification Specific Hashtags

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