What does 'B2B' stand for?
AnswerBusiness to business
B2B companies sell to other businesses rather than consumers.
Business · Facts & stats
Business facts & stats
7 fact-checked facts about business basics, entrepreneurship and competitive strategy, each with the reason behind it. 5 more are in today's round and join this page after it closes.
The basics
What is a market with only one seller called?
AnswerMonopoly
A monopoly has a single supplier of a product.
Going deeper
What does SWOT stand for?
AnswerStrengths, weaknesses, opportunities, threats
SWOT is a simple strategic planning framework.
What is a 'minimum viable product'?
AnswerThe simplest version of a product that lets you test demand
An MVP helps founders learn from real users quickly.
What is a 'unique selling proposition'?
AnswerWhat makes an offer stand out from competitors
A USP is the clear reason customers pick one offer over another.
Expert level
Which author popularized the term 'disruptive innovation'?
AnswerClayton Christensen
Christensen described it in The Innovator's Dilemma (1997).
In Ansoff's growth matrix, selling new products in new markets is called what?
AnswerDiversification
Diversification is the riskiest of Ansoff's four growth strategies.
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