What is human resource management? Human resource management (HRM) is the component of an organization dedicated to the recruitment and...

What are angel investors? Angel investors are affluent individuals, or groups of individuals, who invest their own capital in early-stage...

What is a sales tax? A sales tax is the percentage of the price of goods or services that is added to the final cost of the item when...

What is accessibility? Web accessibility is the practice of ensuring that everyone - including people with disabilities - can utilize the...

What is gross profit? Gross profit is a company’s total sales after deducting the costs associated with selling its products and/or...

What is RSS? RSS (Rich Site Summary or Really Simple Syndication), sometimes called an RSS feed, is a form of a web feed that enables a...

What is fixed cost? A fixed cost is a business expense that does not fluctuate due to factors like production volume or sales figures. As...

What is a fiscal year? A fiscal year, or financial year, is an accounting period that governments, companies, and other organizations use...

What is FIFO? FIFO, or “First In, First Out”, is a process some businesses use to calculate their inventory that relies on assumptions...

What is an executive summary? An executive summary gives an overview of a business plan or proposal. It highlights the most important...

What is entrepreneurship? Entrepreneurship is the action of launching a new, innovative business or concept to the market by predicting...

What is customer service? Customer service is the support a company provides to ensure customer satisfaction with its products or...

What is a corporation? A corporation is a business legally considered to be its own business entity. This permits this type of business...

What is product positioning? Product positioning (or “positioning”) is a marketing concept that refers to the consumer perception and...

What is a patent? A patent is an exclusivity license or title granted by a government authority to an invention for a specific amount of...

What is a partnership? A partnership is a formal agreement between two or more partners who agree to work together towards a mutual goal....

What is packaging? Packaging is the act of wrapping or enclosing a product for the purpose of protection, preservation, storage,...

What is an organizational structure? An organizational structure is the allocation of authority and responsibility within a company. It...

What is a nonprofit corporation? A nonprofit corporation is an organization dedicated to serving the public and is aimed towards...

What is a mission statement? A mission statement is a powerful, yet brief description of why an organization exists that answers the...