What is a sole proprietorship? A sole proprietorship is a type of business owned by one individual where the legal responsibility lies...

What is a business plan? A business plan is a document that outlines the purpose, strategy, financial profile and future revenue...

What is social entrepreneurship? Social entrepreneurship is a way of doing business in an effort to make changes in the world through...

What is a business license? Within the United States, a business license is a legal document that grants a business permission to...

What is segmentation? Segmentation is a way to think about an audience with shared characteristics. In business terms, the objective of...

What is an expense report? An expense report lists all the business-related purchases made by an employee or a company in a specific time...

What is benchmarking? Benchmarking is the process of evaluating company performance, either internally or externally. Business...

What is a human resource? A human resource is one singular employee. Therefore, human resources describes all people who work for a...

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...