What is Small Business CRM? Webopedia Definition #starting #your #own #business

#small business crm

#

small business CRM – customer relationship management

Related Terms

In CRM (customer relationship management) terminology, the phrase small business CRM is used to describe a lightweight CRM application that is designed to meet the needs of a small business.

Customer relationship management solutions provide you with the customer business data to help you provide services or products that your customers want, provide better customer service, cross-sell and up sell more effectively, close deals, retain current customers and understand who the customer is.

While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads.

The Difference Between Enterprise and Small Business CRM

Typically, CRM applications and software are considered enterprise applications that is an application designed for larger enterprises that would require a dedicated team to develop custom CRM modules, another team to analyze the resulting data and reports, plus an IT staff to handle costly upgrades and deployment.

Small business CRM applications differ from enterprise CRM in a number of ways including the amount of data handled by the system, IT requirements, pricing, and the tools and features of the CRM application itself.

Top 5 CRM Questions





Government Grant Definition #business #invoices

#government grants

#

Government Grant

What is a ‘Government Grant’

A government grant is a financial award given by the federal, state or local government to an eligible grantee. Government grants are not expected to be repaid and do not include technical assistance or other financial assistance, such as a loan or loan guarantee, an interest rate subsidy. direct appropriation. or revenue sharing. Over 26 federal agencies administer more than 1,000 grant programs annually to provide funding for the arts, educational institutions, agricultural projects and more.

BREAKING DOWN ‘Government Grant’

Government grants help fund ideas and projects providing public services and stimulating the economy. Grants support critical recovery initiatives, innovative research and other programs listed in the Catalog of Federal Domestic Assistance (CFDA).

Because government grants are funded by tax dollars, they require stringent compliance and reporting measures for ensuring the money is well-spent. Grants from the federal government are authorized and appropriated through bills passed by Congress and signed by the president. Grant authority varies among agencies. For example, the Small Business Administration (SBA) may distribute grants to nonprofit organizations in many of its counseling and training programs.

Grants.gov

Grants.gov is a free online source for researching and applying for over 1,000 federal grant programs with access to approximately $500 billion in awards annually. A grant proposal writer may register by completing a standard business profile on behalf of an individual, a nonprofit organization, a research institution or a similar entity. The writer also submits an authorized organization representative (AOR) application, supplies an e-business point of contact (POC) and completes a detailed application. The writer then has access to finding federal grant opportunities, applying for and tracking grants, and receiving grant email alerts, webinar schedules and tips from grantors.

Applying for a Government Grant

Government grants are extremely competitive. The paperwork is complex, and applicants must describe how being awarded money will benefit the community. Crafting a convincing proposal is so challenging that some freelance writers specialize in writing grant proposals.

Being Awarded a Government Grant

Receiving a government grant is a sign an individual or nonprofit organization has a significant, positive impact on the community. Other grantors view this as a sign they should provide grants for the project as well. When a nonprofit organization receives a government grant, the government is more likely to listen to views of the people involved with the organization and potentially help those people network with others in the same field or help with related issues.

After receiving a check for a government grant, detailed reports accounting for how the money is spent during the grant period and what accomplishments or failures occur must be documented and submitted according to various deadlines.

Example of a Government Grant

A government grant may fund economics programs supporting research for improving the understanding of the processes and institutions of the U.S. economy and of the world system. For example, an economics program may be designed for strengthening empirical and theoretical economic analysis, as well as the methods for rigorous research on economic behavior.





Business Model Definition #home #business #ideas

#business models

#

Business Model

What is a ‘Business Model’

A business model is the way in which a company generates revenue and makes a profit from company operations. Analysts use the metric gross profit as a way to compare the efficiency and effectiveness of a firm’s business model. Gross profit is calculated by subtracting the cost of goods sold from revenues .

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BREAKING DOWN ‘Business Model’

During the dotcom boom analysts went in search of net income. The internet is a disruptive technology with the ability to revolutionize certain industries, but where was the cash flow? When analysts couldn’t find the cash flow, they settled for the business model to legitimize the industry. Instead of looking at net income, calculated as gross profit minus operating expenses, analysts concentrated on gross profit. If the gross profit was high enough, analysts theorized, the cash flow would come.

Business Model Components

The two primary levers of a company’s business model are pricing and costs. A company can raise prices and it can find inventory at reduced costs. Both actions increase gross profit. Gross profit is often considered the first line of profitability because it only considers costs, not expenses. It focuses strictly on the way in which a company does business, not the efficiency of management. Investors that focus on business models are leaving room for an ineffective management team. They believe the best business models can run themselves.

Comparing Business Models

As an example, assume there are two companies and both companies rent movies. Prior to the internet, both companies made $5 million in revenues and the total cost of inventory sold was $4 million. Gross profit is calculated as $5 million minus $4 million, or $1 million. Gross profit margin is calculated as gross profit divided by revenues, or 20%.

After the advent of the internet, company B decides to offer movies online instead of renting or selling a physical copy. This change disrupts the business model in a positive way. The licensing fees do not change, but the cost of holding inventory is down considerably. In fact, the change reduces storage and distribution costs by $2 million. The new gross profit for the company is $5 million minus $2 million, or $3 million. The new gross profit margin is 60%, which is much higher than 20%.

Company B isn’t making more in sales, but it figured out a way to revolutionize its business model, which greatly reduces costs. Managers at company B have an additional 40% more in margin to play with than managers at company A. Managers at company A have little room for error.





What is B2B (business-to-business)? Definition from #business #advertising

#business to business

#

B2B (business-to-business)

On the Internet, B2B (business-to-business), also known as e-biz. is the exchange of products, services or information (aka e-commerce ) between businesses, rather than between businesses and consumers.

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Although early interest centered on the growth of retailing on the Internet (sometimes called e-tailing ), forecasts have predicted that B2B revenue will soon far exceed business-to-consumers (B2C) revenue.

B2B websites can be sorted into the following categories:

  • Company websites. The target audience of many company sites is other companies and their employees. These sites can be thought of as round-the-clock mini-trade exhibits. Sometimes, a company website serves as the entrance to an exclusive extranet. available only to customers or registered site users. Some company sites sell directly from the site, effectively e-tailing to other businesses.
  • Product supply and procurement exchanges. These are exchanges in which a company purchasing agent can shop for supplies from vendors. request proposals and, in some cases, bid to make a purchase at a desired price. Sometimes referred to as e-procurement sites, some serve a range of industries, while others focus on a niche market.
  • Specialized or vertical industry portals. These portals provide a sub-web of information, product listings, discussion groups and other features. Vertical portal sites have a broader purpose than procurement sites (although they may also support buying and selling).
  • Brokering sites. These sites act as an intermediary between providers and potential customers that need their specific services, such as equipment leasing.
  • Information sites. Sometimes known as infomediaries. these sites provide information about a particular industry to its companies and their employees. Information sites include specialized search sites and those of trade-and-industry-standards organizations.

Many B2B sites fall into more than one of these groups. Models for B2B sites are still evolving.

Another type of B2B enterprise is software for building B2B websites, including site-building tools and templates, database and methodologies, as well as transaction software.

This was last updated in June 2014

Continue Reading About B2B (business-to-business)





Definition of Stock Market – The Economic Times #grants #for #business

#stock markets

#

Definition of ‘Stock Market’

Definition: It is a place where shares of pubic listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering (IPO) to raise capital.

Description: Once new securities have been sold in the primary market, they are traded in the secondary market—where one investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and seller agree upon. The secondary market or the stock exchanges are regulated by the regulatory authority. In India, the secondary and primary markets are governed by the Security and Exchange Board of India (SEBI).

A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers. India’s premier stock exchanges are the Bombay Stock Exchange and the National Stock Exchange.

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What is business analytics (BA)? Definition from #business #intelligence #tools

#business analytics

#

business analytics (BA)

Business analytics (BA) is the practice of iterative. methodical exploration of an organization’s data with emphasis on statistical analysis. Business analytics is used by companies committed to data-driven decision making.

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BA is used to gain insights that inform business decisions and can be used to automate and optimize business processes. Data-driven companies treat their data as a corporate asset and leverage it for competitive advantage. Successful business analytics depends on data quality. skilled analysts who understand the technologies and the business and an organizational commitment to data-driven decision making.

Examples of BA uses include:

  • Exploring data to find new patterns and relationships (data mining )
  • Explaining why a certain result occurred (statistical analysis, quantitative analysis)
  • Experimenting to test previous decisions (A/B testing, multivariate testing)
  • Forecasting future results (predictive modeling. predictive analytics )

Once the business goal of the analysis is determined, an analysis methodology is selected and data is acquired to support the analysis. Data acquisition often involves extraction from one or more business systems, cleansing, and integration into a single repository such as a data warehouse or data mart. The analysis is typically performed against a smaller sample set of data. Analytic tools range from spreadsheets with statistical functions to complex data mining and predictive modeling applications. As patterns and relationships in the data are uncovered, new questions are asked and the analytic process iterates until the business goal is met. Deployment of predictive models involves scoring data records (typically in a database) and using the scores to optimize real-time decisions within applications and business processes. BA also supports tactical decision making in response to unforeseen events, and in many cases the decision making is automated to support real-time responses.

While the terms business intelligence and business analytics are often used interchangeably, there are some key differences:

Answers the questions:

Why did it happen?

Will it happen again?

What will happen if we change x ?

What else does the data tell us that never thought to ask?

Reporting (KPIs, metrics)

Automated Monitoring/Alerting (thresholds)

OLAP (Cubes, Slice Dice, Drilling)

Recognizing the growing popularity of business analytics, business intelligence application vendors are including some BA functionality in their products. More recently, data warehouse appliance vendors have started to embed BA functionality within the appliance. Major enterprise system vendors are also embedding analytics, and the trend towards putting more analytics into memory is expected to shorten the time between a business event and decision/response.

This was last updated in August 2010

Next Steps

Expert Wayne Kernochan provides an overview of the different types of business intelligence analytics tools on the market.

Continue Reading About business analytics (BA)

Related Terms

data science Data science is the study of where information comes from, what it represents and how it can be turned into a valuable resource. See complete definition metadata management Metadata management is the oversight of data associated with data assets to ensure that information can be integrated, accessed. See complete definition process intelligence (business process intelligence) Process intelligence is data that has been systematically collected to analyze the individual steps within a business process or. See complete definition

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International business etiquette in Europe – definition and etiquette tips #rcm #business

#business etiquette

#

Business Etiquette

International Business Etiquette definition and tips

Do you know the definition of Business Etiquette? Business etiquette is about building relationships with other people. Etiquette is not about rules regulations but is about providing basic social comfort and creating an environment where others feel comfortable and secure, this is possible through better communication.

Social media communication platforms (i.e. Facebook, Linkedin) are evolving rapidly day by day, as the concept of social media etiquette becomes a crucial part of business. Business etiquette consists of two things. Firstly, thoughtful consideration of the interests and feelings of others and secondly, being able to minimise misunderstandings. These are influenced by individual behaviour demeanour. Business etiquette instructs this behaviour.

Business etiquette differs from region to region and from country to country. This creates a complex situation for people as it is hard to balance the focus on both international business etiquette and other business activities at the same time. Therefore, a wise step is to focus on some key pillars of business etiquette.

Here are some key business etiquette tips that mean real success to business:

‘ Thank You ’ Note

If you want to differentiate yourself from others then never forget to write a‘Thank You’ note to your job interviewer or your client. This will leave a good impression and also reflect well on your company.

Give others respect by knowing their names which will increase goodwill and communication. it is also worth management stepping back and acknowledging people individually for their good work as this will enhance their self esteem and increase motivation.

Observe the Elevator Rule

Be mindful of saying appropriate things at a job interview or client meeting. Don’t start discussing business with a client or interviewer as soon as you step out of the lift. By doing so, you avoid the risk of damaging your reputation.

Focus on the Face, Not the Screen

Never forget to switch off your phone and try not to use any other device just to prove you are a multitasking individual. In fact, in the world of business this is considered bad manners. Concentrate on the meeting and listen to what people are saying.

Everyone is unique in their own way and uses a different approach to deal with situations. Therefore, if you disagree with another person’s approach instead of criticising try to understand it from their point of view. By doing so, you create a friendly environment. Always remember you get respect by giving respect.

Whether in business or between individuals, one concern is brand awareness. Individuals want to be noticed both socially and professionally. People want to be remembered by others.

However, in the digital landscape you have to be very careful when trying to pursue your brand awareness. Think carefully before doing. What we mean by this is that before creating a hashtag, posting on a Facebook wall or texting think how the other person will feel when they receive your message.

Character, Behaviour, Honesty

Your character reflects your individuality and your behaviour exhibits your personality. Business etiquette encourages revealing your positive qualities. This helps your reputation.

Always be honest and remember that it takes a long time to develop trust and a good reputation and only one small mistake to lose it. Business etiquette provides a framework for stating the boundaries of terms conditions, contracts and promises.

Sensitivity Diplomacy

A key pillar of business etiquette is sensitivity, meaning giving careful thought to every business aspect before making a judgement. This gives a strong foundation to your business. Also, thoughtless words and actions lead to a negative outcome. Being aware of business etiquette encourages careful thought.

Elements of business etiquette

Business etiquette instructs on you how to present yourself professionally in different cultures. The keys for making a good impression are dressing appropriately, your body language, presenting your business cards, gift giving, conducting meetings and many other important elements.





What Is Business Math? Real Estate Definition #business #christmas #cards

#business math

#

What You Need to Know About Business Math

By Deb Russell. Mathematics Expert

What is Business Math?
Put quite simply, Business Math deals with Money! Who can t benefit from having a better understanding of money and finance? Everyone can! Business math is for the individual who wants to fully understand everything about personal finance and it s also for the business person who wants to learn about business finance. You simply can t take business without taking math, business and math go hand in hand.

Continue Reading Below

Some passionate business math enthusiasts will tell you, if you don t take any other math or if you don t like math, you still need business math and because it deals with money, you might just like it. Everyone needs to manage money on some level which is what makes business math important for everyone to take.

What Math Do I Need to Take Business Math?
If you decide that business math is for you or that you need business math for your career goal, you will benefit from having an understanding of the following topics along with the ability to solve word problems:
-Fractions, Decimals and Percents (use the four operations with fractions, convert between fractions and decimals and percents, calculate percents of a number with and without a calculator, convert and simplify fractions, reduce and convert fractions
-Whole Numbers (to a million, read, write, round and estimate numbers) and Integers (understand how to use the four operations with integers
-Basic Equations in Early Algebra (solve equations involving more than 1 unknown term, solve proportions, solve equations using more than one operation, use the problem solving plan
-Be Able to Use a Variety of Formulas
-Understand and Work with the Mean, Median and the Mode
-Read Charts and Graphs

Continue Reading Below

In Summary
Business math is not just for the business owner or for personal finance. Business math is also important for the real estate profession, they need to know how to financially close a deal, and to understand mortgages, calculate commission rates, taxes and fees and use a variety of formulas effectively. Wealth managers and advisers, bankers, investment consultants, stock brokers, accountants and tax consultants all need to understand the financial transactions for investment purposes along with having an understanding about growth or loss over time. Business owners need to understand payroll applications and deductions. Then there s goods and services. Whether it s buying or selling, an understanding of discounts, markups, overhead, profits, revenues and costs are all an essential components of the math needed to manage inventory whether it be goods and services or property, which also needs to be financially managed.

Having a background in math opens opportunities and the job prospects are promising. Now is the time to embark on business math.

Technical Math





Turnkey Business Definition #small #business #opportunities

#turnkey business

#

Turnkey Business

What is a ‘Turnkey Business’

A turnkey business is a business that is ready to use, existing in a condition that allows for immediate operation. The term “turnkey” is based on the concept of only needing to the turn the key to unlock the doors to begin operations. To be fully considered turnkey, the business must function correctly and at full capacity from when it is initially received.

BREAKING DOWN ‘Turnkey Business’

A turnkey business is an arrangement where the provider assumes responsibility for all required setup and ultimately provides the business to the new operator only upon completion of the aforementioned requirements. A turnkey business often already has a proven, successful business model and merely requires investment capital and labor.

Turnkey Business and Franchises

Often used in franchising, a firm’s high-level management plans and executes all business strategies to ensure that individuals can buy a franchise or business and start operating immediately. Most franchises are built within a specific pre-existing framework, with predetermined supply lines for the goods required to begin operations. Franchises may not have to participate in advertising decisions, as those may be governed by a larger corporate body.

The advantage of purchasing a franchise is that the business model is generally considered to be proven, resulting in a lower overall failure rate. Some corporate entities ensure that no other franchise is set up within the territory of an existing franchise, limiting internal competition.

The disadvantage of a franchise is that the nature of the operations may be highly restrictive. A franchisee may be subject to contractual obligations, such as items that can or cannot be offered, or where supplies may be purchased.

Direct Sales and Multi-Level Marketing

Direct sales and multi-level marketing (MLM) businesses, such as Mary Kay, can also be seen as turnkey businesses based on how little it takes to have them up and running. Often, a person only needs to sign up with the particular service as a consultant and pay fees for the inventory required to perform the work. A consultant is not an employee of the company; instead, the consultant functions as an independent entity. Profits are made based on the difference between the supply costs and the price at which the items are ultimately sold.

Other Turnkey Businesses

Aside from franchises, any existing business that’s already up and running successfully or a new business whose doors are ready to be opened could be considered a turnkey business. In these cases, if the business has a proven track record, the risk may be lower compared to starting a new business from scratch, and it may also provide more control over business decisions than a franchise model.

However, it may be challenging to get an accurate valuation before the business is purchased, as well as information about why the business is for sale. There are no preset methods for increasing the likelihood of success in cases where the current performance of the business is lacking in some way.





What is business intelligence (BI)? Definition from #catering #business

#business intelligence

#

business intelligence (BI)

Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers.

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The potential benefits of business intelligence programs include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems can also help companies identify market trends and spot business problems that need to be addressed.

BI data can include historical information, as well as new data gathered from source systems as it is generated, enabling BI analysis to support both strategic and tactical decision-making processes. Initially, BI tools were primarily used by data analysts and other IT professionals who ran analyses and produced reports with query results for business users. Increasingly, however, business executives and workers are using BI software themselves, thanks partly to the development of self-service BI and data discovery tools.

Business intelligence combines a broad set of data analysis applications, including ad hoc analysis and querying, enterprise reporting, online analytical processing (OLAP ), mobile BI. real-time BI. operational BI. cloud and software as a service BI. open source BI. collaborative BI and location intelligence. BI technology also includes data visualization software for designing charts and other infographics. as well as tools for building BI dashboards and performance scorecards that display visualized data on business metrics and key performance indicators in an easy-to-grasp way. BI applications can be bought separately from different vendors or as part of a unified BI platform from a single vendor.

BI programs can also incorporate forms of advanced analytics. such as data mining. predictive analytics. text mining. statistical analysis and big data analytics. In many cases though, advanced analytics projects are conducted and managed by separate teams of data scientists. statisticians, predictive modelers and other skilled analytics professionals, while BI teams oversee more straightforward querying and analysis of business data.

Business intelligence data typically is stored in a data warehouse or smaller data marts that hold subsets of a company’s information. In addition, Hadoop systems are increasingly being used within BI architectures as repositories or landing pads for BI and analytics data, especially for unstructured data. log files, sensor data and other types of big data. Before it’s used in BI applications, raw data from different source systems must be integrated, consolidated and cleansed using data integration and data quality tools to ensure that users are analyzing accurate and consistent information.

In addition to BI managers, business intelligence teams generally include a mix of BI architects, BI developers, business analysts and data management professionals; business users often are also included to represent the business side and make sure its needs are met in the BI development process. To help with that, a growing number of organizations are replacing traditional waterfall development with Agile BI and data warehousing approaches that use Agile software development techniques to break up BI projects into small chunks and deliver new functionality to end users on an incremental and iterative basis. Doing so can enable companies to put BI features into use more quickly and to refine or modify development plans as business needs change or new requirements emerge and take priority over earlier ones.

Sporadic usage of the term business intelligence dates back to at least the 1860s, but consultant Howard Dresner is credited with first proposing it in 1989 as an umbrella category for applying data analysis techniques to support business decision-making processes. What came to be known as BI technologies evolved from earlier, often mainframe-based analytical systems, such as decision support systems and executive information systems. Business intelligence is sometimes used interchangeably with business analytics ; in other cases, business analytics is used either more narrowly to refer to advanced data analytics or more broadly to include both BI and advanced analytics.

Business intelligence (BI) vs. advanced analytics comparison

BI vs. advanced analytics





What is Small Business CRM? Webopedia Definition #franchise #business

#small business crm

#

small business CRM – customer relationship management

Related Terms

In CRM (customer relationship management) terminology, the phrase small business CRM is used to describe a lightweight CRM application that is designed to meet the needs of a small business.

Customer relationship management solutions provide you with the customer business data to help you provide services or products that your customers want, provide better customer service, cross-sell and up sell more effectively, close deals, retain current customers and understand who the customer is.

While the phrase customer relationship management is most commonly used to describe a business-customer relationship, CRM systems are used in the same way to manage business contacts, clients, contract wins and sales leads.

The Difference Between Enterprise and Small Business CRM

Typically, CRM applications and software are considered enterprise applications that is an application designed for larger enterprises that would require a dedicated team to develop custom CRM modules, another team to analyze the resulting data and reports, plus an IT staff to handle costly upgrades and deployment.

Small business CRM applications differ from enterprise CRM in a number of ways including the amount of data handled by the system, IT requirements, pricing, and the tools and features of the CRM application itself.

Top 5 CRM Questions





What is lead? Definition from #online #business #loans

#business leads

#

A lead, in a marketing context, is a potential sales contact: an individual or organization that expresses an interest in your goods or services. Leads are typically obtained through the referral of an existing customer, or through a direct response to advertising/publicity. A company’s marketing department is typically responsible for lead generation .

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You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .





What Is Business Math? Real Estate Definition #stock #market #update

#business math

#

What You Need to Know About Business Math

By Deb Russell. Mathematics Expert

What is Business Math?
Put quite simply, Business Math deals with Money! Who can t benefit from having a better understanding of money and finance? Everyone can! Business math is for the individual who wants to fully understand everything about personal finance and it s also for the business person who wants to learn about business finance. You simply can t take business without taking math, business and math go hand in hand.

Continue Reading Below

Some passionate business math enthusiasts will tell you, if you don t take any other math or if you don t like math, you still need business math and because it deals with money, you might just like it. Everyone needs to manage money on some level which is what makes business math important for everyone to take.

What Math Do I Need to Take Business Math?
If you decide that business math is for you or that you need business math for your career goal, you will benefit from having an understanding of the following topics along with the ability to solve word problems:
-Fractions, Decimals and Percents (use the four operations with fractions, convert between fractions and decimals and percents, calculate percents of a number with and without a calculator, convert and simplify fractions, reduce and convert fractions
-Whole Numbers (to a million, read, write, round and estimate numbers) and Integers (understand how to use the four operations with integers
-Basic Equations in Early Algebra (solve equations involving more than 1 unknown term, solve proportions, solve equations using more than one operation, use the problem solving plan
-Be Able to Use a Variety of Formulas
-Understand and Work with the Mean, Median and the Mode
-Read Charts and Graphs

Continue Reading Below

In Summary
Business math is not just for the business owner or for personal finance. Business math is also important for the real estate profession, they need to know how to financially close a deal, and to understand mortgages, calculate commission rates, taxes and fees and use a variety of formulas effectively. Wealth managers and advisers, bankers, investment consultants, stock brokers, accountants and tax consultants all need to understand the financial transactions for investment purposes along with having an understanding about growth or loss over time. Business owners need to understand payroll applications and deductions. Then there s goods and services. Whether it s buying or selling, an understanding of discounts, markups, overhead, profits, revenues and costs are all an essential components of the math needed to manage inventory whether it be goods and services or property, which also needs to be financially managed.

Having a background in math opens opportunities and the job prospects are promising. Now is the time to embark on business math.

Technical Math





What is Social Business? A Clear Definition #business #news #today

#social business

#

Online Community Blog

“Social business” is a white-hot buzzword right now. However, there is little consensus as to what it actually means. In a #socbizchat Twitter chat hosted by online magazine CMSWire last fall, top consultants, executives, and marketers spent over an hour debating the question, “What is Social Business?” without gaining an inch of common understanding.

It seems that most people know it when they see it, but can’t tell you what it is in layman’s terms. While I appreciate the definitions that are out there, many are not packaged for the masses of businesses and non-profit organizations trying to harness the power of social networks. Take, for instance, the following definition by Cheryl Burgess :

“Social businesses implement social technologies, strategies and processes that span across their entire enterprise, creating and optimizing collaborative ecosystems of employees, customers, partners, suppliers, communities and stakeholders in a safe and consistent way.”

While I agree with Cheryl’s definition and most of the points in her post, the definition lacks the clarity and succinctness to be sticky in the minds of everyday businesspeople. The potential of social business and online communities is so exciting and far-reaching that I often suffer from the same verbal excesses when describing how social business impacts organizations.

In an effort to make the concept of social business more digestible, the team at Socious has developed a clear definition of social business.

Concise? Yes. Simple? No. This definition is as expansive as the business problems that online communities solve. For further clarity, let’s break this definition into its parts.

Organization

Social business is the ability for an ORGANIZATION to use its communities to improve its performance.

An organization could be a Fortune 500 corporation, private company, or a nonprofit, such as an association or user group. Obviously, organizations are made up of people. Since people are coming at social business from all angles and organizational situations, the definition could easily be brought down to an individual or departmental level. In that case, social business would be the ability for you or your group to use your organization’s communities to do your job better. However, in most contexts, social business refers to improving the results for the business or organization as a whole.

Communities

Social business is the ability for an organization to use its COMMUNITIES to improve its performance.

While online communities are the most common type of community, organizations have always had communities – communities of employees, communities, of customer, communities of suppliers, etc. Until the last decade, these communities where offline and had limited opportunities for collaboration and collective support. These days, it is rare for a community to not have an online component. Even if your community is based around a conference or live event, a significant amount of engagement occurs online before, during, and after the event.

In this definition, communities refers to the many communities that exist in and around an organization. These can include:

  • Customers or members
  • Prospects
  • Employees
  • Channel partners
  • Suppliers
  • Volunteers
  • Product partners and consultants
  • Analysts and media
  • Donors
  • Conference attendees
  • User groups
  • Chapters
  • Grassroots supporters

They can be owned and managed by the company (e.g. a private customer community) or be communities in which the organization is only a member (e.g. a more loose-knit community of industry professionals on a public social network).

In addition, an organization’s communities can exist in many forms online – from engaging your market and its media in an active Twitter community to a private online community where customers can find the information and people they need to be successful with your products or services.

Performance

Social business is the ability for an organization to use its communities to IMPROVE ITS PERFORMANCE .

In the same way that this definition is purposefully broad enough to apply to many types of organizations, it also address the wide array of goals that an organization can have at any given time. Here are a few examples of performance indicators:

  • Improving brand perception
  • Finding new customers
  • Passing favorable legislation
  • Closing more sales faster
  • Improving customer satisfaction while reducing support costs
  • Increasing customer retention and repeat business

Communities Often Overlap to Improve Performance

The measurable impact that social business has on an organization is not contained in silos. Communities are often most impactful when brought together with other communities. For an example, collaboration among your customer service teams, customers, and partners could help to control support costs. In another example, members of an association and the membership services staff can work together to increase the value of joining the organization to prospective members by providing exclusive content and expertise in the online community.

Does This Definition Apply to You?

While we have used this definition across markets and organizations of all types, it will evolve as technology changes and new ideas enter the landscape. Please leave your feedback and business experience in the comments below to critique, challenge, and expand upon this definition.





Definition of Stock Market – The Economic Times #current #stock #market

#stock markets

#

Definition of ‘Stock Market’

Definition: It is a place where shares of pubic listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering (IPO) to raise capital.

Description: Once new securities have been sold in the primary market, they are traded in the secondary market—where one investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and seller agree upon. The secondary market or the stock exchanges are regulated by the regulatory authority. In India, the secondary and primary markets are governed by the Security and Exchange Board of India (SEBI).

A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers. India’s premier stock exchanges are the Bombay Stock Exchange and the National Stock Exchange.

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What is lead? Definition from #small #business #association

#business leads

#

A lead, in a marketing context, is a potential sales contact: an individual or organization that expresses an interest in your goods or services. Leads are typically obtained through the referral of an existing customer, or through a direct response to advertising/publicity. A company’s marketing department is typically responsible for lead generation .

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Business Economics Definition #biz #loans

#business economics

#

Business Economics

What is ‘Business Economics’

Business economics is the study of the financial issues and challenges faced by corporations operating in a specified marketplace or economy. Business economics deals with issues such as business organization, management, expansion and strategy. Studies might include how and why corporations expand, the impact of entrepreneurs. the interactions between corporations, and the role of governments in regulation.

BREAKING DOWN ‘Business Economics’

Economics refers to the study of the components and functions of a particular marketplace or economy, such as supply and demand and the effect of the concept of scarcity. Within an economy, issues regarding production may be examined, as well as distribution methods. Further, consumption by the associated economy’s population can be analyzed.

Factors Within Business Operations

Business economics focuses on the factors within business operations and how they relate to the economy as a whole. It integrates economic principles and strategies into standard business practices. This can include the acquisition of necessary capital, the generation of profit, the efficiency of production and overall management strategy. It includes issues of how other economic external factors can influence business decisions, such as a change in industry regulation or a sudden price shift in a necessary production materials.

Managerial Economics

Managerial economics focuses on the microeconomic factors that are used in the decision-making process with an organization. Corporations make strategic decisions that can result in a profit or loss. Managerial economic principles guide how and why corporations make certain decisions.

Managerial economics apply to the public and private sectors, and for-profit and not-for-profit organizations alike. All organizations must address issues in the internal and external economies to remain solvent, as all organizations require a source of funding to continue operations.

The goal of managerial economics is to utilize the available resources, maximizing production while minimizing waste. While nonprofits may put their focus on raising donations, for-profits instead focus on sales of goods or services. Each organization wants to limit waste to maximize the overall usefulness of the available resources. Each uses the same principles to meet the associated goals of maintaining the funds necessary to continue working within the economy.

Both also require the same forms of attention and expertise, such as advertising and community or customer support, and require leadership to make decisions regarding the best way to negotiate current economic conditions.

Economics Oriented Associations

In the United States, the National Association for Business Economics (NABE) is the professional association for business economists. The organization’s mission is “to provide leadership in the use and understanding of economics.” In the United Kingdom, the professional organization is the Society of Business Economists.





Business Definition #business #card #print

#what is business

#

Business

What is a ‘Business’

A business is an organization or enterprising entity engaged in commercial, industrial or professional activities. A company transacts business activities through the production of a good, offering of a service or retailing of already manufactured products. A business can be a for-profit entity or a nonprofit organization that operates to fulfill a charitable mission.

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BREAKING DOWN ‘Business’

A business most often forms after the development of a business plan. This plan outlines the strategic intentions and logistics in making those intentions occur. A business name must be registered with the state, and this name is often referred to as the “doing business as” or DBA name. A business can operate with its own tax identification number and tax liabilities, so one of the pivotal steps in forming a business is determining the legal structure of the business and associated taxation implications. Different businesses require various permits and licenses to operate legally. Finally, a business has legal obligations in regard to treatment of employees and the conditions in which the employees work. These legal obligations of a business include properly assessing payroll taxes on employees as well as the business itself.

Business Structures

The most basic business structure is a sole proprietorship. The owner of the business is the sole individual who takes ownership of assets and debt obligations. Alternatively, multiple individuals with shared duties can operate a business, and this business structure is a partnership. A business may operate as a corporation. Incorporating a business releases owners of financial liability of business obligations; however, a corporation has unfavorable taxation rules for the owners of the business. For this reason, a fourth business structure, called a limited liability company, is available, which combines the benefits of a partnership and corporation.

Business Sizes

Businesses include everything from a small owner-operated company, such as a family restaurant, to a multinational conglomerate. such as General Electric. Larger businesses may issue corporate stock to finance operations. In this case, the company is publicly traded and has reporting and operating restrictions. Alternatively, smaller businesses may operate more independently of regulators.

Industries

A company may describe its business by communicating the industry in which it operates. For example, the real estate business. advertising business or mattress production business are industries in which a business can exist. Because the term “business” can be interchanged with day-to-day operations as well as the overall formation of a company, the term is often used to indicate transactions regarding an underlying product or service. For example, Exxon Mobil transacts business in providing oil.





Business-to-Business (B2B) Definition – What is Business-to-Business (B2B) #business #directory

#business to business

#

Business-to-Business (B2B)

What is Business-to-Business (B2B)?

Business-to-business B2B refers to commerce between two businesses rather than to commerce between a business and an individual consumer. Transactions at the wholesale level are usually business-to-business while those at the retail level are most often business-to-consumer (B2C).

Recognizing Business-to-Business

The dollar value of business-to-business transactions is significantly higher than business-to-consumer activity because businesses are more likely to purchase higher priced goods and services and purchase more of them than consumers are. A bicycle manufacturer, for example, will purchase a truckload of bicycle tires or a coffee manufacturer will buy a massive, industrial bean grinder. Compare that with what s purchased by a biking enthusiast or the individual coffee aficionado.

How Business-to-Business Selling is Different

Selling to a business is different from selling to an individual consumer. Key sales and marketing differences for business-to-business transactions include:

  • Selling sometimes requires participating in a bidding process by responding to a purchaser s request for proposals. On the business-to-consumer side, this compares to asking various auto dealers to provide their best offer on a specific make and model.
  • The decision-making process on a purchase can take days, weeks, or months, depending on how the purchasing company works and the size and nature of the order.
  • Purchasing decisions are often made by committees, so each member needs to be educated and sold.
  • The dollar value of goods or services sold is much higher than on the consumer or retail level, so the buyer needs to take steps to minimize risk. That sometimes involves requesting a product prototype or customization.

Business-to-Business Doesn t Exclude Business-to-Consumer

A company selling to businesses can also sell directly to consumers. A bead manufacturer selling its beads in bulk to costume jewelry manufacturers might also package them in smaller quantities sold to crafters at craft stores. A telephone manufacturer can sell in bulk to companies or one at a time to consumers shopping online or at an office supply store. A firm that provides health and wellness consulting to corporations can also advise individuals one-on-one or in group presentations.

It s About the Customer, Not the Transaction Size

While business-to-business transactions often involve high prices and volume, they can also happen on a much smaller scale when a small business sells products or services to another small business. The hallmark of business-to-business commerce then, is the participants two businesses rather than a business and a consumer.

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What Is Business Environment? Definition & Factors – Video & Lesson Transcript

#business environment

#

What Is Business Environment? – Definition & Factors

Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you’ll learn about the business environment, including what makes it up. A short quiz follows the lesson.

Business Environment Defined

Business environment is the sum total of all external and internal factors that influence a business. You should keep in mind that external factors and internal factors can influence each other and work together to affect a business. For example, a health and safety regulation is an external factor that influences the internal environment of business operations. Additionally, some external factors are beyond your control. These factors are often called external constraints. Let’s take a look at some key environmental factors.

External Factors

Political factors are governmental activities and political conditions that may affect your business. Examples include laws, regulations, tariffs and other trade barriers, war, and social unrest.

Macroeconomic factors are factors that affect the entire economy, not just your business. Examples include things like interest rates, unemployment rates, currency exchange rates, consumer confidence, consumer discretionary income, consumer savings rates, recessions, and depressions.

Microeconomic factors are factors that can affect your business, such as market size, demand, supply, relationships with suppliers and your distribution chain, such as retail stores that sell your products, and the number and strength of your competition.

Social factors are basically sociological factors related to general society and social relations that affect your business. Social factors include social movements, such as environmental movements, as well as changes in fashion and consumer preferences. For example, clothing fashions change with the season, and there is a current trend towards green construction and organic foods.

Technological factors are technological innovations that can either benefit or hurt your business. Some technological innovations can increase your productivity and profit margins, such as computer software and automated production. On the other hand, some technological innovations pose an existential threat to a business, such as Internet streaming challenging the DVD rental business.

Internal Factors

Organizational culture is the framework of values, vision, norms, and customs shared by the members of an organization. Your business culture affects how the employees in your business interact with each other, its customers, and other stakeholders.

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Organizational structure is the manner in which the business is organized to conduct its activities. Organizations can be organized fairly flat, with very few levels of hierarchy, or organized very vertical, with many levels of hierarchy. The manner in which an organization is structured will affect how your business is managed and how much control individual employees have over their work.

Management structure is the manner in which your business is managed. Management may be centralized, where all decision-making is made at the top and filtered down throughout the business, or it may be decentralized, where the decision-making is distributed throughout the organization and decisions are made closer to the relevant work activities or problems.

Lesson Summary

Business environment includes the external and internal factors that influence a business. External factors include political factors, macroeconomic factors, microeconomic factors, social factors, and technological factors. Internal factors are factors from inside the organization that affect a business, such as organizational culture, organizational structure, and management structure.

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Government Grant Definition #small #business #services

#government grants

#

Government Grant

What is a ‘Government Grant’

A government grant is a financial award given by the federal, state or local government to an eligible grantee. Government grants are not expected to be repaid and do not include technical assistance or other financial assistance, such as a loan or loan guarantee, an interest rate subsidy. direct appropriation. or revenue sharing. Over 26 federal agencies administer more than 1,000 grant programs annually to provide funding for the arts, educational institutions, agricultural projects and more.

BREAKING DOWN ‘Government Grant’

Government grants help fund ideas and projects providing public services and stimulating the economy. Grants support critical recovery initiatives, innovative research and other programs listed in the Catalog of Federal Domestic Assistance (CFDA).

Because government grants are funded by tax dollars, they require stringent compliance and reporting measures for ensuring the money is well-spent. Grants from the federal government are authorized and appropriated through bills passed by Congress and signed by the president. Grant authority varies among agencies. For example, the Small Business Administration (SBA) may distribute grants to nonprofit organizations in many of its counseling and training programs.

Grants.gov

Grants.gov is a free online source for researching and applying for over 1,000 federal grant programs with access to approximately $500 billion in awards annually. A grant proposal writer may register by completing a standard business profile on behalf of an individual, a nonprofit organization, a research institution or a similar entity. The writer also submits an authorized organization representative (AOR) application, supplies an e-business point of contact (POC) and completes a detailed application. The writer then has access to finding federal grant opportunities, applying for and tracking grants, and receiving grant email alerts, webinar schedules and tips from grantors.

Applying for a Government Grant

Government grants are extremely competitive. The paperwork is complex, and applicants must describe how being awarded money will benefit the community. Crafting a convincing proposal is so challenging that some freelance writers specialize in writing grant proposals.

Being Awarded a Government Grant

Receiving a government grant is a sign an individual or nonprofit organization has a significant, positive impact on the community. Other grantors view this as a sign they should provide grants for the project as well. When a nonprofit organization receives a government grant, the government is more likely to listen to views of the people involved with the organization and potentially help those people network with others in the same field or help with related issues.

After receiving a check for a government grant, detailed reports accounting for how the money is spent during the grant period and what accomplishments or failures occur must be documented and submitted according to various deadlines.

Example of a Government Grant

A government grant may fund economics programs supporting research for improving the understanding of the processes and institutions of the U.S. economy and of the world system. For example, an economics program may be designed for strengthening empirical and theoretical economic analysis, as well as the methods for rigorous research on economic behavior.





What is business process modeling? Definition from #business #cash #advance

#business process modeling

#

business process modeling

Business process modeling, often called process modeling, is the analytical representation or illustration of an organization s business processes.

Along with business process discovery. process modeling is widely viewed as a critical component in successful business process management (BPM ). It is used to map out an organization s current (or as-is ) processes to create a baseline for process improvements and to design future (or to-be ) processes with those improvements incorporated. Process modeling often uses Business Process Modeling Notation (BPMN ), a standard method of illustrating processes with flowchart -like diagrams that can be easily understood by both IT and business managers.

Continue reading about business process modeling:

This was last updated in February 2012

Contributor(s): Anne Stuart

Related Terms

Definitions

– Risk management is a company’s process for identifying and controlling threats to its assets, including proprietary corporate data, customers’ PII and intellectual property. (SearchCompliance.com )

– Rebranding is an update of the materials and presentation used to represent a business. A company may rebrand to appear more modern or to distance itself from past issues, among other possibilities. (WhatIs.com )

– A/B testing is a statistical method used to assess proposed changes to a product or service. (SearchBusinessAnalytics.com )

Glossaries

– Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

– This WhatIs.com glossary contains terms related to Internet applications, including definitions about Software as a Service (SaaS) delivery models and words and phrases about web sites, e-commerce.

Dig Deeper





What is Social Business? A Clear Definition #t #shirt #business

#social business

#

Online Community Blog

“Social business” is a white-hot buzzword right now. However, there is little consensus as to what it actually means. In a #socbizchat Twitter chat hosted by online magazine CMSWire last fall, top consultants, executives, and marketers spent over an hour debating the question, “What is Social Business?” without gaining an inch of common understanding.

It seems that most people know it when they see it, but can’t tell you what it is in layman’s terms. While I appreciate the definitions that are out there, many are not packaged for the masses of businesses and non-profit organizations trying to harness the power of social networks. Take, for instance, the following definition by Cheryl Burgess :

“Social businesses implement social technologies, strategies and processes that span across their entire enterprise, creating and optimizing collaborative ecosystems of employees, customers, partners, suppliers, communities and stakeholders in a safe and consistent way.”

While I agree with Cheryl’s definition and most of the points in her post, the definition lacks the clarity and succinctness to be sticky in the minds of everyday businesspeople. The potential of social business and online communities is so exciting and far-reaching that I often suffer from the same verbal excesses when describing how social business impacts organizations.

In an effort to make the concept of social business more digestible, the team at Socious has developed a clear definition of social business.

Concise? Yes. Simple? No. This definition is as expansive as the business problems that online communities solve. For further clarity, let’s break this definition into its parts.

Organization

Social business is the ability for an ORGANIZATION to use its communities to improve its performance.

An organization could be a Fortune 500 corporation, private company, or a nonprofit, such as an association or user group. Obviously, organizations are made up of people. Since people are coming at social business from all angles and organizational situations, the definition could easily be brought down to an individual or departmental level. In that case, social business would be the ability for you or your group to use your organization’s communities to do your job better. However, in most contexts, social business refers to improving the results for the business or organization as a whole.

Communities

Social business is the ability for an organization to use its COMMUNITIES to improve its performance.

While online communities are the most common type of community, organizations have always had communities – communities of employees, communities, of customer, communities of suppliers, etc. Until the last decade, these communities where offline and had limited opportunities for collaboration and collective support. These days, it is rare for a community to not have an online component. Even if your community is based around a conference or live event, a significant amount of engagement occurs online before, during, and after the event.

In this definition, communities refers to the many communities that exist in and around an organization. These can include:

  • Customers or members
  • Prospects
  • Employees
  • Channel partners
  • Suppliers
  • Volunteers
  • Product partners and consultants
  • Analysts and media
  • Donors
  • Conference attendees
  • User groups
  • Chapters
  • Grassroots supporters

They can be owned and managed by the company (e.g. a private customer community) or be communities in which the organization is only a member (e.g. a more loose-knit community of industry professionals on a public social network).

In addition, an organization’s communities can exist in many forms online – from engaging your market and its media in an active Twitter community to a private online community where customers can find the information and people they need to be successful with your products or services.

Performance

Social business is the ability for an organization to use its communities to IMPROVE ITS PERFORMANCE .

In the same way that this definition is purposefully broad enough to apply to many types of organizations, it also address the wide array of goals that an organization can have at any given time. Here are a few examples of performance indicators:

  • Improving brand perception
  • Finding new customers
  • Passing favorable legislation
  • Closing more sales faster
  • Improving customer satisfaction while reducing support costs
  • Increasing customer retention and repeat business

Communities Often Overlap to Improve Performance

The measurable impact that social business has on an organization is not contained in silos. Communities are often most impactful when brought together with other communities. For an example, collaboration among your customer service teams, customers, and partners could help to control support costs. In another example, members of an association and the membership services staff can work together to increase the value of joining the organization to prospective members by providing exclusive content and expertise in the online community.

Does This Definition Apply to You?

While we have used this definition across markets and organizations of all types, it will evolve as technology changes and new ideas enter the landscape. Please leave your feedback and business experience in the comments below to critique, challenge, and expand upon this definition.





Business Definition #business #administration

#what is business

#

Business

What is a ‘Business’

A business is an organization or enterprising entity engaged in commercial, industrial or professional activities. A company transacts business activities through the production of a good, offering of a service or retailing of already manufactured products. A business can be a for-profit entity or a nonprofit organization that operates to fulfill a charitable mission.

VIDEO

Loading the player.

BREAKING DOWN ‘Business’

A business most often forms after the development of a business plan. This plan outlines the strategic intentions and logistics in making those intentions occur. A business name must be registered with the state, and this name is often referred to as the “doing business as” or DBA name. A business can operate with its own tax identification number and tax liabilities, so one of the pivotal steps in forming a business is determining the legal structure of the business and associated taxation implications. Different businesses require various permits and licenses to operate legally. Finally, a business has legal obligations in regard to treatment of employees and the conditions in which the employees work. These legal obligations of a business include properly assessing payroll taxes on employees as well as the business itself.

Business Structures

The most basic business structure is a sole proprietorship. The owner of the business is the sole individual who takes ownership of assets and debt obligations. Alternatively, multiple individuals with shared duties can operate a business, and this business structure is a partnership. A business may operate as a corporation. Incorporating a business releases owners of financial liability of business obligations; however, a corporation has unfavorable taxation rules for the owners of the business. For this reason, a fourth business structure, called a limited liability company, is available, which combines the benefits of a partnership and corporation.

Business Sizes

Businesses include everything from a small owner-operated company, such as a family restaurant, to a multinational conglomerate. such as General Electric. Larger businesses may issue corporate stock to finance operations. In this case, the company is publicly traded and has reporting and operating restrictions. Alternatively, smaller businesses may operate more independently of regulators.

Industries

A company may describe its business by communicating the industry in which it operates. For example, the real estate business. advertising business or mattress production business are industries in which a business can exist. Because the term “business” can be interchanged with day-to-day operations as well as the overall formation of a company, the term is often used to indicate transactions regarding an underlying product or service. For example, Exxon Mobil transacts business in providing oil.





What is business process? Definition from #work #from #home #business #ideas

#business process

#

business process

A business process is an activity or set of activities that will accomplish a specific organizational goal. Business process management (BPM) is a systematic approach to improving those processes. If an organization is unable to perform certain business processes internally due to cost or resources, the company might utilize business process outsourcing (BPO). Many organizations contract specific business tasks, such as payroll, human resources (HR) or accounting, to a third-party service provider.

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To measure success of a business process, organizations track successful completion of different steps within the process, i.e. benchmarks. or reaching the end point of the process. When a business process is not helping an organization reach a goal within timeline or with the resources at hand, there are a number of strategies to execute for improvements. Business process mapping is often undertaken as an exercise during business process re-engineering and process transformation to improve a maybe unsuccessful business process. Organizations might also focus on business process visibility to identify issues in process performance or execution.

Business processes categories

Depending on the organization, industry and nature of work, business processes are often broken up into different categories. Categories include:

  • Operational processes (or primary processes): Operational or primary processes deal with the core business and value chain. These processes deliver value to the customer by helping to produce a product or service. Operational processes represent essential business activities that accomplish business objectives, e.g. generating revenue. Some examples of this include taking customer orders and managing bank accounts.
  • Supporting processes (or secondary processes): Supporting processes back core processes and functions within an organization. Examples of supporting or management processes include accounting, HR management and workplace safety. One key differentiator between operational and support processes is that support processes do not provide value to customers directly.
  • Management processes: Management processes measure, monitor and control activities related to business procedures and systems. Examples of management processes include internal communications, governance. strategic planning. budgeting, and infrastructure or capacity management. Like supporting processes, management processes do not provide value directly to the customers.

Business process mapping or modeling

Business processes are often depicted visually with a flowchart showing a sequence of tasks with certain benchmarks or decision points. Business process mapping or modeling illustrates pictorially, through graphs and charts, how certain processes flow into others.

There a few different ways to think about business process mapping and workflow :

  • Sequential business process. Sequential business processes are outlined on a document with clear start and end points. When following this process map, an organization performs the series of actions in order to complete the task within the constraints of a predetermined timeline.
  • Status-driven business process. A status-driven business process doesn’t have strict start and end points. These processes can finish at any stage depending on workflow changes, nature or production or the office culture. Also, it is typical for status-driven processes to recur or cycle on the same step in the process.
  • Parallel business process. When activities in a business process are executed in parallel, they are carried out simultaneously. In this type of business process execution, the activities on all branches must be completed before the next step in the business process can commence.

This was last updated in June 2016

Continue Reading About business process

Related Terms

CEO and other C-suite executive titles The CEO, or chief executive officer, is part of the C-suite. Other C-suite executive titles include the chief financial officer. See complete definition innovation management Innovation management is the process of managing an organization’s innovation procedure, which helps increase competitive. See complete definition product development (new product development, or NPD) Product development, or new product development (NPD), is the process of bringing new or updated products or services to a target. See complete definition

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Business-to-Business (B2B) Definition – What is Business-to-Business (B2B) #bad #credit #business #loans

#business to business

#

Business-to-Business (B2B)

What is Business-to-Business (B2B)?

Business-to-business B2B refers to commerce between two businesses rather than to commerce between a business and an individual consumer. Transactions at the wholesale level are usually business-to-business while those at the retail level are most often business-to-consumer (B2C).

Recognizing Business-to-Business

The dollar value of business-to-business transactions is significantly higher than business-to-consumer activity because businesses are more likely to purchase higher priced goods and services and purchase more of them than consumers are. A bicycle manufacturer, for example, will purchase a truckload of bicycle tires or a coffee manufacturer will buy a massive, industrial bean grinder. Compare that with what s purchased by a biking enthusiast or the individual coffee aficionado.

How Business-to-Business Selling is Different

Selling to a business is different from selling to an individual consumer. Key sales and marketing differences for business-to-business transactions include:

  • Selling sometimes requires participating in a bidding process by responding to a purchaser s request for proposals. On the business-to-consumer side, this compares to asking various auto dealers to provide their best offer on a specific make and model.
  • The decision-making process on a purchase can take days, weeks, or months, depending on how the purchasing company works and the size and nature of the order.
  • Purchasing decisions are often made by committees, so each member needs to be educated and sold.
  • The dollar value of goods or services sold is much higher than on the consumer or retail level, so the buyer needs to take steps to minimize risk. That sometimes involves requesting a product prototype or customization.

Business-to-Business Doesn t Exclude Business-to-Consumer

A company selling to businesses can also sell directly to consumers. A bead manufacturer selling its beads in bulk to costume jewelry manufacturers might also package them in smaller quantities sold to crafters at craft stores. A telephone manufacturer can sell in bulk to companies or one at a time to consumers shopping online or at an office supply store. A firm that provides health and wellness consulting to corporations can also advise individuals one-on-one or in group presentations.

It s About the Customer, Not the Transaction Size

While business-to-business transactions often involve high prices and volume, they can also happen on a much smaller scale when a small business sells products or services to another small business. The hallmark of business-to-business commerce then, is the participants two businesses rather than a business and a consumer.

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Captive Finance Company Definition #sba #loan

#finance companies

#

Captive Finance Company

What is a ‘Captive Finance Company’

A captive finance company is a subsidiary whose purpose is to provide financing to customers buying the parent company’s product. Captive finance companies can range in size from mid-sized entities to giant firms, depending on the size of the parent company. Their range of services can also vary widely, from basic card services to full-scale banking. A captive finance company can be a source of significant profits for the parent organization.

BREAKING DOWN ‘Captive Finance Company’

A captive finance company is usually wholly owned by the parent organization. The best-known examples of such companies are the giant subsidiaries of the “Big Three” automakers, and the store card operations of large retailers such as Wal-Mart, Target and Sears.

Due to the size and scale of their operations, the captive finance companies of the Big Three car manufacturers: General Motors Acceptance Corporation (GMAC), Chrysler Financial and Ford Motor Credit Company – are arguably almost as well-known as their parent companies. Note that subsequent to the bankruptcy of General Motors in 2009, GMAC underwent a name change to Ally Bank and rebranded as Ally Financial in 2010.





What is business continuity management (BCM)? Definition from #good #business #names

#business continuity

#

business continuity management (BCM)

Business continuity management (BCM) is a framework for identifying an organization’s risk of exposure to internal and external threats.

The goal of BCM is to provide the organization with the ability to effectively respond to threats such as natural disasters or data breaches and protect the business interests of the organization. BCM includes disaster recovery. business recovery, crisis management, incident management, emergency management and contingency planning .

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According to ISO 22301. a business continuity management system emphasizes the importance of:

  • Understanding continuity and preparedness needs, as well as the necessity for establishing business continuity management policy and objectives.
  • Implementing and operating controls and measures for managing an organization’s overall continuity risks.
  • Monitoring and reviewing the performance and effectiveness of the business continuity management system.
  • Continual improvement based on objective measurements.




Small Business Administration (SBA) Definition #cheap #business #cards

#small business administration

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Small Business Administration – SBA

DEFINITION of ‘Small Business Administration – SBA’

The Small Business Administration (SBA) is a U.S. government agency, formulated in 1953, that operates autonomously. This agency was established to bolster and promote the economy in general by providing assistance to small businesses. One of the largest functions of the SBA is the provision of counseling to aid individuals trying to start and grow businesses. On the agency’s website, (SBA.gov ), there is a wealth of tools to assist small businesses including a small business planner and additional training programs. Localized SBA offices throughout the United States and associated territories offer in-person, one-on-one counseling services that include business plan writing instruction and assistance with small business loans .

BREAKING DOWN ‘Small Business Administration – SBA’

The SBA offers substantial educational information with a specific focus on assisting small business startup and growth. In addition to educational events offered on the SBA’s website, local offices also provide more personalized special events for small business owners.

The History of the SBA

The SBA was established by President Eisenhower through the signing of the Small Business Act in the summer of 1953. In its more than six decades of existence, the SBA has been threatened on numerous occasions. The House of Representatives, controlled by the Republican party in 1996, had the SBA slated to be eliminated. However, the agency survived this threat and went on to receive a record budget in 2000. The SBA faced further threat by President Bush and his administration. Though attempts to cut the agency’s loan program saw significant resistance in Congress, the SBA’s budget was cut repeatedly each year, from 2001 to 2004, when certain SBA expenditures were frozen altogether.

The SBA Loan Program

The loan programs offered by the SBA are among the most visible elements the agency provides. The organization does not offer grants or direct loans, with the exception of disaster relief loans, but instead guarantees against default pieces of business loans extended by banks and other official lenders that meet the agency’s guidelines. The number one function of these loan programs is to make loans with longer repayment periods available to small businesses.

The Future of the SBA

As of 2016, despite numerous attempts to do away with the SBA entirely, many political officials and offices continue to support the agency. President Barack Obama and his administration have continually supported the SBA and remain backers of a substantial budget allotment for the agency. The SBA’s ability to offer loans has also been significantly strengthened by the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010.





Cape Verde Flags and Symbols and National Anthem, definition of anthem.#Definition #of


#

Cape Verdean Flag

Definition of anthem Definition of anthem

Definition of anthem

The Cape Verde flag was officially adopted on February 25, 1992.

The gold stars represent the (10) islands of the country. The dark blue represents the Atlantic Ocean and the red stripe – the road to economic progress.

Cape Verde Coat of Arms:

Definition of anthem

The national emblem of Cape Verde was adopted in 1992, and features a torch and triangle within a circle, which are symbols of freedom and national unity. The ten stars on either side of the circle represent the islands, and the plumbbob at the top is a symbol of righteousness.

See Also

About Cape Verde

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  • What is e-business (electronic business)? Definition from #loan #to #start #a #business

    #e business

    #

    e-business (electronic business)

    E-business (electronic business) is the conduct of business processes on the Internet. These electronic business processes include buying and selling products, supplies and services; servicing customers; processing payments; managing production control; collaborating with business partners ; sharing information; running automated employee services; recruiting; and more.

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    What Is Business Law? Definition & Overview – Video & Lesson Transcript

    #business law

    #

    What Is Business Law? – Definition & Overview

    Business law is a broad area of law. It covers many different types of laws and many different topics. This lesson explains generally what business law is and how it’s used.

    Definition of Business Law

    Business law encompasses all of the laws that dictate how to form and run a business. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow. A savvy businessperson will be generally familiar with business laws and know when to seek the advice of a licensed attorney. Business law includes state and federal laws, as well as administrative regulations. Let’s take a look at some of the areas included under the umbrella of business law.

    Starting a Business

    Much of business law addresses the different types of business organizations. There are laws regarding how to properly form and run each type. This includes laws about entities such as corporations, partnerships and limited liability companies. For example, let’s say I decide to start my own pet grooming business. I need to decide what type of business I want to be. Will this be a partnership? Will it be a sole proprietorship? What papers do I need to file in order to start this business? These questions fall under the laws that govern business entities. which are state laws. The type of entity I pick will also affect how I pay my federal income taxes. These, of course, are federal laws.

    Next, what will my business be called? Let’s say I decide on Barks Bubbles as a name for my dog grooming company. Now I need to know if anyone else already has that name. This is a trademark question. Patents. copyrights and trademarks are part of intellectual property law. The federal law governs most intellectual property law. Then I need to know if I’ll require any special type of license for this business. Do groomers need a license? Am I allowed to have animals on my property, or do I need some sort of special permit? I’ll need to check my local and state laws to find out. How will I advertise my business? Am I allowed to say that I’m the ‘best in town?’ This question falls under consumer protection law. which can be federal or state law. Wow. That’s a lot of business law, and I’m not even open for business yet!

    Buying a Business

    Now let’s say I decide to buy a business instead. I’m going to buy Patty’s Pampered Pooches from my Aunt Patty. There are many business laws that govern how to buy a business. If I buy Patty’s business, do I now own the actual store? This is a real estate law question. Do I own the pet grooming equipment in the store? This is a property law question. Both of these fall under state law. Am I now the boss of Patty’s employees? This is an employment law question.

    Can I start hiring my own employees and ordering supplies? This will involve contract law. since I’ll be making new agreements with people regarding my business and determining which of Patty’s agreements I need to uphold. Contracts are legally binding agreements made by two or more persons, enforceable by the courts. Businesses are involved in many different types of contracts, and as a result, there are many interesting cases involving breach of contract. A breach of contract is when one party doesn’t hold up his or her end of the bargain. It’s common for parties to dispute the terms of a business agreement or disagree on how the agreement should be performed.

    For instance, consider the famous case of Locke v. Warner Bros. Inc. Sondra Locke was a longtime girlfriend of Clint Eastwood. When the two broke up, Locke sued Eastwood for support. As a part of their settlement, Eastwood negotiated a contract for Locke with Warner Bros. Locke was given a director’s contract, where Warner Bros. would pay Locke for any projects she directed or produced. Locke proposed more than 30 projects, but Warner Bros. never hired her. She sued Warner Bros. for breach of contract, saying that Warner Bros. never intended to hire her in the first place. After a court ruled that Locke had enough evidence to proceed with her case, the parties settled.

    This case demonstrates the importance of making good contracts. A wise businessperson will be sure to enter contracts with a good understanding of the content and a good faith interest in upholding the contract.

    Managing a Business

    There are many laws that concern managing a business because there are many aspects involved in managing. As you can already see, running a business will involve a lot of employment law and contract law. For my new business, I’ll need to know how to hire, what my contracts should look like, what kind of benefits I have to provide, how to pay employee insurance and taxes and even how to properly fire an employee. Many of these employment and benefit laws are federal laws and regulated by government agencies. For example, the Equal Employment Opportunity Commission is a federal agency that enforces employment discrimination laws.

    If I also decide to sell things as part of my pet grooming business, like dog collars or dog treats, then I’ll need to be familiar with the laws on sales. For businesses that conduct sales, it’s especially helpful to be familiar with the Uniform Commercial Code. or UCC. This publication governs sales and commercial paper and has been adopted in some form by almost all states.

    What happens if I provide services but have trouble getting paid? Let’s say I groom several dogs for Victor’s Vet, but he won’t pay my bill. Can I demand payment or report him to the credit reporting agencies? This is a debt collection law question. Debt collection laws are mostly federal laws. For instance, many of our debt collection laws are found in the Fair Debt Collection Practices Act, or the FDCPA, which is enforced by the Federal Trade Commission.

    What happens if Victor just didn’t like my services? Let’s say Victor accuses me of purposely sabotaging his chances at a national dog show by giving his poodle a bad haircut. Can Victor sue me? And, if so, will his lawsuit be against me personally, or will it be against my Barks Bubbles business entity? This scenario falls under tort law. Torts are private, civil actions for wrongful deeds. Tort law is usually state law. This is an extensive area of the law and includes things like work injuries and negligence claims.

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    What is virtual desktop? Definition from #virtual #infrastructure #definition


    #

    virtual desktop

    What is a virtual desktop?

    1. A virtual desktop is an individual user’s interface in a virtualized environment.The virtualized desktop is stored on a remote server rather than locally.

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    Desktop virtualization software separates the physical machine from the software and presents an isolated operating system for users. Desktop virtualization tools include Microsoft Virtual PC, VMware Workstation and Parallels Desktop for Mac.

    • Cost savings because resources can be shared and allocated on an as-needed basis.
    • More efficient use of resources and energy.
    • Improved data integrity because backup is centralized.
    • Centralized administration.
    • Fewer compatibility issues.

    Knowledge workers who use mostly business software applications are good candidates for desktop virtualization. The model is not generally viable for users with high resource demands.

    See also: desktop virtualization infrastructure (VDI )

    2. On a single host machine, a user may have separate virtual desktops for different applications. One desktop might feature applications for graphic design, for example, and another might feature business applications.

    Learn More About IT:
    Wikipedia has more information in its entry for desktop virtualization.
    Brian Madden explains ‘The secret to saving money with desktop virtualization.’
    Dave Sobel offers a FAQ list about desktop virtualization and virtual desktop infrastructure.

    This was last updated in June 2009

    Related Terms

    Remote Desktop Connection Manager (RDCMan) Remote Desktop Connection Manager (RDCMan) is a tool for managing multiple remote desktop sessions. It creates a single location. See complete definition remote desktop protocol (RDP) Remote desktop protocol (RDP) is a secure network communications protocol designed for remote management, as well as for remote. See complete definition user environment management (UEM) User environment management (UEM) is a technology designed to manage a user’s complete desktop experience. See complete definition

    Dig Deeper on Virtual desktop management


    What is business venture? definition and meaning #franchise #business #opportunities

    #business venture ideas

    #

    business venture

    Start-up entity developed with the intent of profiting financially. A business venture may also be considered a small business. Many ventures will be invested in by one or more individuals or groups with the expectation of the business bringing in a financial gain for all backers. Most business ventures are created based on demand of the market or a lack of supply in the market. Needs of consumers are identified for a product or a service and the entrepreneur and investors will proceed to develop the idea, market the idea, and sell the product or service developed.

    • The business venture was conceptualized during the meeting last Monday and it was executed the following week, flawlessly, for a profit too.
    • You need to understand what the risks and rewards are for any new business venture and proceed cautiously at first.
    • When the brothers inherited a large sum of money for their parents’ estate, they decided to join together in a business venture to invest the money in the same project.

    The best of BusinessDictionary, delivered daily!





    What is a Turnkey Franchise? Franchise Definition by FranChoice #best #home #business

    #turnkey business

    #

    What is a Turnkey Franchise?

    You ve probably heard the term turnkey many times and may have wondered what it means in terms of franchising. Turnkey basically refers to a franchise package so complete that everything you need to start the franchise will be done for you.

    On the surface, this sounds like a great idea. You pay your fee and the franchisor researches the location, signs the lease, builds out the unit, supplies you with start-up inventory, finds and trains the staff, and orchestrates the grand opening. All you have to do is turn the key to open your new business.

    Buyer Beware

    There are plusses and minuses to a turnkey franchise. It could be a great advantage to you because of the work and aggravation it can save. It may also be an unnecessary expense if the package is overpriced for what it offers.

    If the business you are looking at getting into says it is a turnkey opportunity, here are some ways to evaluate the value of the package offered.

    1. Most franchisors offer only a partial turnkey program, doing some but not all of the items mentioned above. Make sure you understand what they will help you with and what tasks you ll need to tackle yourself.
    2. You should expect to pay a reasonable price for the labor involved in putting the package together, but not an outrageous price. If the price seems high, ask for a breakdown of the services provided.
    3. Group purchasing power is a definite benefit of franchising. You can expect to get a good deal on the components needed for the business since you are taking advantage of the buying power of the chain. Make sure you have an understanding of the savings.
    4. Ask the current franchisees about the value of the turnkey package. You ll be calling them anyway as part of your due diligence so be sure to cover this topic thoroughly. Ask them if they feel they got a fair value for the turnkey package and if the process went as smoothly as they expected.
    5. Finally, remember that you are paying a large up-front franchise fee and substantial ongoing royalty payments to this franchisor. These are accepted costs of a franchise business. You should not also have to pay a large markup above the actual costs to put the turnkey package together. Take the time to understand all facets of the process and the associated costs.

    When the reverse is true

    That being said, there are always exceptions to the rule. Some franchisors do not charge a royalty but actually make their profit by selling you the components of a franchise. For example, a smoothie franchise may sell you their proprietary kiosks and ingredients rather than charge you a royalty fee. The franchisor s profit comes from the mark-up on the products they sell you.

    Again, you should expect a fair price and the best way to determine if the price is fair is to ask the existing franchisees. Ask them if they are happy with the prices they are charged and if they shopped around before signing with the franchisor to see if this was the best deal they found.

    The wave of the future

    As franchising becomes more and more sophisticated, most franchisors offer at least partial turnkey features. They understand that it is to their benefit to provide their franchisees with every possible advantage to give them the best chance at success.

    With retail franchise concepts, the franchisor is likely to provide the equipment and fixtures to the franchisee. The franchisee will then hire a local contractor to assemble and install everything. This balances the need for the consistent look and feel the franchisor wants with the same level of cost control for the franchisee.

    In addition, the more the franchisor provides the franchisee in the way of training, marketing, materials, products, build-outs, etc. the more consistent the brand is from one location to the next. This also generates more revenue for the franchisee.

    It still takes you to make it work

    A true turnkey franchise is a company that supplies franchises with a business in a condition ready for immediate use, occupation, or operation, according to a dictionary definition. In most cases, a franchisor will do a lot to get you up and running but you will still need to take care of a number of start-up items yourself.

    But whether a business is or isn t a turnkey opportunity, or is a partial turnkey operation, don t forget that there is still one element of the equation that a franchisor cannot provide and that s the drive, talent and determination of the franchisee to make the business successful. That is completely up to you!





    Stock Market Definition #doing #business #as

    #stock market

    #

    Stock Market

    What is the ‘Stock Market’

    The stock market is the market in which shares of publicly held companies are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market. the stock market is one of the most vital components of a free-market economy, as it provides companies with access to capital in exchange for giving investors a slice of ownership in the company. The stock market makes it possible to grow small initial sums of money into large ones, and to become wealthy without taking the risk of starting a business or making the sacrifices that often accompany a high-paying career.

    VIDEO

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    BREAKING DOWN ‘Stock Market’

    The stock market lets investors participate in the financial achievements of the companies whose shares they hold. When companies are profitable, stock market investors make money through the dividends the companies pay out and by selling appreciated stocks at a profit called a capital gain. The downside is that investors can lose money if the companies whose stocks they hold lose money, the stocks’ prices goes down and the investor sells the stocks at a loss.

    The stock market can be split into two main sections: the primary market and the secondary market. The primary market is where new issues are first sold through initial public offerings. Institutional investors typically purchase most of these shares from investment banks. All subsequent trading goes on in the secondary market where participants include both institutional and individual investors.

    Stocks are traded through exchanges. The two biggest stock exchanges in the United States are the New York Stock Exchange. founded in 1792, and the Nasdaq, founded in 1971. Today, most stock market trades are executed electronically, and even the stocks themselves are almost always held in electronic form, not as physical certificates.

    If you want to know how the stock market is performing, you can consult an index of stocks for the whole market or for a segment of the market. Examples include the Dow Jones Industrial Average. Nasdaq index, Russell 2000, Standard and Poor’s 500, and Morgan Stanley Europe, Australasia and Far East index.





    Business Definition #business #checking #account

    #what is business

    #

    Business

    What is a ‘Business’

    A business is an organization or enterprising entity engaged in commercial, industrial or professional activities. A company transacts business activities through the production of a good, offering of a service or retailing of already manufactured products. A business can be a for-profit entity or a nonprofit organization that operates to fulfill a charitable mission.

    VIDEO

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    BREAKING DOWN ‘Business’

    A business most often forms after the development of a business plan. This plan outlines the strategic intentions and logistics in making those intentions occur. A business name must be registered with the state, and this name is often referred to as the “doing business as” or DBA name. A business can operate with its own tax identification number and tax liabilities, so one of the pivotal steps in forming a business is determining the legal structure of the business and associated taxation implications. Different businesses require various permits and licenses to operate legally. Finally, a business has legal obligations in regard to treatment of employees and the conditions in which the employees work. These legal obligations of a business include properly assessing payroll taxes on employees as well as the business itself.

    Business Structures

    The most basic business structure is a sole proprietorship. The owner of the business is the sole individual who takes ownership of assets and debt obligations. Alternatively, multiple individuals with shared duties can operate a business, and this business structure is a partnership. A business may operate as a corporation. Incorporating a business releases owners of financial liability of business obligations; however, a corporation has unfavorable taxation rules for the owners of the business. For this reason, a fourth business structure, called a limited liability company, is available, which combines the benefits of a partnership and corporation.

    Business Sizes

    Businesses include everything from a small owner-operated company, such as a family restaurant, to a multinational conglomerate. such as General Electric. Larger businesses may issue corporate stock to finance operations. In this case, the company is publicly traded and has reporting and operating restrictions. Alternatively, smaller businesses may operate more independently of regulators.

    Industries

    A company may describe its business by communicating the industry in which it operates. For example, the real estate business. advertising business or mattress production business are industries in which a business can exist. Because the term “business” can be interchanged with day-to-day operations as well as the overall formation of a company, the term is often used to indicate transactions regarding an underlying product or service. For example, Exxon Mobil transacts business in providing oil.





    What is business process? Definition from #business #card #design

    #business process

    #

    business process

    A business process is an activity or set of activities that will accomplish a specific organizational goal. Business process management (BPM) is a systematic approach to improving those processes. If an organization is unable to perform certain business processes internally due to cost or resources, the company might utilize business process outsourcing (BPO). Many organizations contract specific business tasks, such as payroll, human resources (HR) or accounting, to a third-party service provider.

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    You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

    To measure success of a business process, organizations track successful completion of different steps within the process, i.e. benchmarks. or reaching the end point of the process. When a business process is not helping an organization reach a goal within timeline or with the resources at hand, there are a number of strategies to execute for improvements. Business process mapping is often undertaken as an exercise during business process re-engineering and process transformation to improve a maybe unsuccessful business process. Organizations might also focus on business process visibility to identify issues in process performance or execution.

    Business processes categories

    Depending on the organization, industry and nature of work, business processes are often broken up into different categories. Categories include:

    • Operational processes (or primary processes): Operational or primary processes deal with the core business and value chain. These processes deliver value to the customer by helping to produce a product or service. Operational processes represent essential business activities that accomplish business objectives, e.g. generating revenue. Some examples of this include taking customer orders and managing bank accounts.
    • Supporting processes (or secondary processes): Supporting processes back core processes and functions within an organization. Examples of supporting or management processes include accounting, HR management and workplace safety. One key differentiator between operational and support processes is that support processes do not provide value to customers directly.
    • Management processes: Management processes measure, monitor and control activities related to business procedures and systems. Examples of management processes include internal communications, governance. strategic planning. budgeting, and infrastructure or capacity management. Like supporting processes, management processes do not provide value directly to the customers.

    Business process mapping or modeling

    Business processes are often depicted visually with a flowchart showing a sequence of tasks with certain benchmarks or decision points. Business process mapping or modeling illustrates pictorially, through graphs and charts, how certain processes flow into others.

    There a few different ways to think about business process mapping and workflow :

    • Sequential business process. Sequential business processes are outlined on a document with clear start and end points. When following this process map, an organization performs the series of actions in order to complete the task within the constraints of a predetermined timeline.
    • Status-driven business process. A status-driven business process doesn’t have strict start and end points. These processes can finish at any stage depending on workflow changes, nature or production or the office culture. Also, it is typical for status-driven processes to recur or cycle on the same step in the process.
    • Parallel business process. When activities in a business process are executed in parallel, they are carried out simultaneously. In this type of business process execution, the activities on all branches must be completed before the next step in the business process can commence.

    This was last updated in June 2016

    Continue Reading About business process

    Related Terms

    CEO and other C-suite executive titles The CEO, or chief executive officer, is part of the C-suite. Other C-suite executive titles include the chief financial officer. See complete definition innovation management Innovation management is the process of managing an organization’s innovation procedure, which helps increase competitive. See complete definition product development (new product development, or NPD) Product development, or new product development (NPD), is the process of bringing new or updated products or services to a target. See complete definition

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    What is Cloud Backup? Webopedia Definition #cloud #backup, #cloud #backup #definition, #cloud


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    cloud backup

    Cloud backup, or cloud computer backup . refers to backing up data to a remote, cloud-based server. As a form of cloud storage. cloud backup data is stored in and accessible from multiple distributed and connected resources that comprise a cloud (see “cloud computing “ ).

    Cloud Backup Solutions

    Cloud backup solutions enable enterprises or individuals to store their data and computer files on the Internet using a storage service provider. rather than storing the data locally on a physical disk, such as a hard drive or tape backup.

    Cloud backup providers enable customers to remotely access the provider’s services using a secure client log in application to back up files from the customer s computers or data center to the online storage server using an encrypted connection.

    How to Restore a Cloud Backup

    To update or restore a cloud backup, customers need to use the service provider’s specific client application or a Web browser interface. Files and data can be automatically saved to the cloud backup service on a regular, scheduled basis, or the information can be automatically backed up anytime changes are made (also known as a “cloud sync”).

    Enterprise Cloud Backup

    For enterprises, enterprise-grade cloud backup solutions are available that typically add essential features such as archiving and disaster recovery. Archiving features help to satisfy an enterprise s legal requirements for data retention, and as part of a company’s disaster recovery plan. the remote, off-site storage provided by cloud backup helps ensure the data remains safe should the enterprise s local data be jeopardized by a disaster such as a fire, flood, hacker attack or employee theft.

    Top 5 Cloud Backup Related Questions

    More Cloud Computing Articles from Webopedia.com

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    What is Business Continuity and Disaster Recovery (BCDR)? Definition from #harvard #business

    #business continuity

    #

    Business Continuity and Disaster Recovery (BCDR)

    Business Continuity and Disaster Recovery (BCDR or BC/DR) are closely related practices that describe an organization’s preparation for unforeseen risks to continued operations. The trend of combining business continuity and disaster recovery into a single term has resulted from a growing recognition that both business executives and technology executives need to be collaborating closely instead of developing plans in isolation.

    Download this free guide

    Letters from the Editor: 2016 State of Storage

    Rich Castagna – the VP of Editorial, Storage – shares his candid, expert, and often very funny view on today’s storage market. In these six “Letters from the Editor,” originally featured in our monthly Storage magazine, Rich covers topics such as flash, data storage, SDS, storage hardware, data protection, convergence, and more.

    By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

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    International business etiquette in Europe – definition and etiquette tips #business #card

    #business etiquette

    #

    Business Etiquette

    International Business Etiquette definition and tips

    Do you know the definition of Business Etiquette? Business etiquette is about building relationships with other people. Etiquette is not about rules regulations but is about providing basic social comfort and creating an environment where others feel comfortable and secure, this is possible through better communication.

    Social media communication platforms (i.e. Facebook, Linkedin) are evolving rapidly day by day, as the concept of social media etiquette becomes a crucial part of business. Business etiquette consists of two things. Firstly, thoughtful consideration of the interests and feelings of others and secondly, being able to minimise misunderstandings. These are influenced by individual behaviour demeanour. Business etiquette instructs this behaviour.

    Business etiquette differs from region to region and from country to country. This creates a complex situation for people as it is hard to balance the focus on both international business etiquette and other business activities at the same time. Therefore, a wise step is to focus on some key pillars of business etiquette.

    Here are some key business etiquette tips that mean real success to business:

    ‘ Thank You ’ Note

    If you want to differentiate yourself from others then never forget to write a‘Thank You’ note to your job interviewer or your client. This will leave a good impression and also reflect well on your company.

    Give others respect by knowing their names which will increase goodwill and communication. it is also worth management stepping back and acknowledging people individually for their good work as this will enhance their self esteem and increase motivation.

    Observe the Elevator Rule

    Be mindful of saying appropriate things at a job interview or client meeting. Don’t start discussing business with a client or interviewer as soon as you step out of the lift. By doing so, you avoid the risk of damaging your reputation.

    Focus on the Face, Not the Screen

    Never forget to switch off your phone and try not to use any other device just to prove you are a multitasking individual. In fact, in the world of business this is considered bad manners. Concentrate on the meeting and listen to what people are saying.

    Everyone is unique in their own way and uses a different approach to deal with situations. Therefore, if you disagree with another person’s approach instead of criticising try to understand it from their point of view. By doing so, you create a friendly environment. Always remember you get respect by giving respect.

    Whether in business or between individuals, one concern is brand awareness. Individuals want to be noticed both socially and professionally. People want to be remembered by others.

    However, in the digital landscape you have to be very careful when trying to pursue your brand awareness. Think carefully before doing. What we mean by this is that before creating a hashtag, posting on a Facebook wall or texting think how the other person will feel when they receive your message.

    Character, Behaviour, Honesty

    Your character reflects your individuality and your behaviour exhibits your personality. Business etiquette encourages revealing your positive qualities. This helps your reputation.

    Always be honest and remember that it takes a long time to develop trust and a good reputation and only one small mistake to lose it. Business etiquette provides a framework for stating the boundaries of terms conditions, contracts and promises.

    Sensitivity Diplomacy

    A key pillar of business etiquette is sensitivity, meaning giving careful thought to every business aspect before making a judgement. This gives a strong foundation to your business. Also, thoughtless words and actions lead to a negative outcome. Being aware of business etiquette encourages careful thought.

    Elements of business etiquette

    Business etiquette instructs on you how to present yourself professionally in different cultures. The keys for making a good impression are dressing appropriately, your body language, presenting your business cards, gift giving, conducting meetings and many other important elements.





    What is business intelligence (BI)? Definition from #business #card

    #business intelligence

    #

    business intelligence (BI)

    Business intelligence (BI) is a technology-driven process for analyzing data and presenting actionable information to help corporate executives, business managers and other end users make more informed business decisions. BI encompasses a variety of tools, applications and methodologies that enable organizations to collect data from internal systems and external sources, prepare it for analysis, develop and run queries against the data, and create reports, dashboards and data visualizations to make the analytical results available to corporate decision makers as well as operational workers.

    Download this free guide

    Hadoop 2 Upgrades: Ready to Take Advantage?

    Hadoop doesn’t lack for attention, but that has yet to translate into high adoption or success rates. Find out if you should leverage Hadoop 2 upgrades here.

    By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

    You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .

    The potential benefits of business intelligence programs include accelerating and improving decision making; optimizing internal business processes; increasing operational efficiency; driving new revenues; and gaining competitive advantages over business rivals. BI systems can also help companies identify market trends and spot business problems that need to be addressed.

    BI data can include historical information, as well as new data gathered from source systems as it is generated, enabling BI analysis to support both strategic and tactical decision-making processes. Initially, BI tools were primarily used by data analysts and other IT professionals who ran analyses and produced reports with query results for business users. Increasingly, however, business executives and workers are using BI software themselves, thanks partly to the development of self-service BI and data discovery tools.

    Business intelligence combines a broad set of data analysis applications, including ad hoc analysis and querying, enterprise reporting, online analytical processing (OLAP ), mobile BI. real-time BI. operational BI. cloud and software as a service BI. open source BI. collaborative BI and location intelligence. BI technology also includes data visualization software for designing charts and other infographics. as well as tools for building BI dashboards and performance scorecards that display visualized data on business metrics and key performance indicators in an easy-to-grasp way. BI applications can be bought separately from different vendors or as part of a unified BI platform from a single vendor.

    BI programs can also incorporate forms of advanced analytics. such as data mining. predictive analytics. text mining. statistical analysis and big data analytics. In many cases though, advanced analytics projects are conducted and managed by separate teams of data scientists. statisticians, predictive modelers and other skilled analytics professionals, while BI teams oversee more straightforward querying and analysis of business data.

    Business intelligence data typically is stored in a data warehouse or smaller data marts that hold subsets of a company’s information. In addition, Hadoop systems are increasingly being used within BI architectures as repositories or landing pads for BI and analytics data, especially for unstructured data. log files, sensor data and other types of big data. Before it’s used in BI applications, raw data from different source systems must be integrated, consolidated and cleansed using data integration and data quality tools to ensure that users are analyzing accurate and consistent information.

    In addition to BI managers, business intelligence teams generally include a mix of BI architects, BI developers, business analysts and data management professionals; business users often are also included to represent the business side and make sure its needs are met in the BI development process. To help with that, a growing number of organizations are replacing traditional waterfall development with Agile BI and data warehousing approaches that use Agile software development techniques to break up BI projects into small chunks and deliver new functionality to end users on an incremental and iterative basis. Doing so can enable companies to put BI features into use more quickly and to refine or modify development plans as business needs change or new requirements emerge and take priority over earlier ones.

    Sporadic usage of the term business intelligence dates back to at least the 1860s, but consultant Howard Dresner is credited with first proposing it in 1989 as an umbrella category for applying data analysis techniques to support business decision-making processes. What came to be known as BI technologies evolved from earlier, often mainframe-based analytical systems, such as decision support systems and executive information systems. Business intelligence is sometimes used interchangeably with business analytics ; in other cases, business analytics is used either more narrowly to refer to advanced data analytics or more broadly to include both BI and advanced analytics.

    Business intelligence (BI) vs. advanced analytics comparison

    BI vs. advanced analytics





    Stock Market Definition #easy #business #loans

    #stock market

    #

    Stock Market

    What is the ‘Stock Market’

    The stock market is the market in which shares of publicly held companies are issued and traded either through exchanges or over-the-counter markets. Also known as the equity market. the stock market is one of the most vital components of a free-market economy, as it provides companies with access to capital in exchange for giving investors a slice of ownership in the company. The stock market makes it possible to grow small initial sums of money into large ones, and to become wealthy without taking the risk of starting a business or making the sacrifices that often accompany a high-paying career.

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    BREAKING DOWN ‘Stock Market’

    The stock market lets investors participate in the financial achievements of the companies whose shares they hold. When companies are profitable, stock market investors make money through the dividends the companies pay out and by selling appreciated stocks at a profit called a capital gain. The downside is that investors can lose money if the companies whose stocks they hold lose money, the stocks’ prices goes down and the investor sells the stocks at a loss.

    The stock market can be split into two main sections: the primary market and the secondary market. The primary market is where new issues are first sold through initial public offerings. Institutional investors typically purchase most of these shares from investment banks. All subsequent trading goes on in the secondary market where participants include both institutional and individual investors.

    Stocks are traded through exchanges. The two biggest stock exchanges in the United States are the New York Stock Exchange. founded in 1792, and the Nasdaq, founded in 1971. Today, most stock market trades are executed electronically, and even the stocks themselves are almost always held in electronic form, not as physical certificates.

    If you want to know how the stock market is performing, you can consult an index of stocks for the whole market or for a segment of the market. Examples include the Dow Jones Industrial Average. Nasdaq index, Russell 2000, Standard and Poor’s 500, and Morgan Stanley Europe, Australasia and Far East index.





    Qui Tam Definition #qui #tam #false #claims #act, #qui #tam #definition


    #

    Qui Tam Definition

    Qui Tam Definition

    Simply put, qui tam means that an action is initiated by a citizen, known as a relator or whistleblower, against a company, person or entity, which he or she knows is cheating the federal government or possibly a local government somehow. Considering that the qui tam suit is created by the relator for the government, these entities could possibly join the case and litigate with the accuser’s legal team.

    Qui Tam Act

    This is a set of provisions that are part of the federal government’s False Claims Act. This qui tam statute was developed to ensure that private citizens like you, may bring an instance to court in the government. However, you cannot make just any law suit and represent the USA government.

    How Do You Pronounce Qui Tam?

    There are two qui tam pronunciations. Some people like to say “kwee tahm” and some like to call it “key tahm”. It’s up to each person how they would like to say the phrase.

    What Types of Cases are believed to be Qui Tam?

    These situations involve a small business or person who carries a contract with the US government and is committing fraud against the US government at the same time. By way of example, just one famous case, a pharmaceutical company was selling medications that were not approved by the FDA to government entities into its Medicare program.

    How Qui Tam Works

    The seal used with all the federal government after filing a qui tam suit is definitely an important section of each one of these whistleblower suits brought against fraudulent organizations. As a component in the suit, the number of case under seal marks the specific time where the government’s attorneys and advisors plus the Department of Justice may check out lawsuit. After some time has lapsed, the government will decide if they will get involved in the case or not.

    After a suit is filed, it is then under seal and private to the court only. This means anyone not involved in the case does not have the right to see any information. The Department of Justice and they can share it with the attorney assigned to the case as well as the judge that is assigned. Any other parties must have court permission to view data that is on file regarding the law suit. This may be requested by the US Department of Justice.

    The seal is valid for 60 days. In this time frame, government entities must recognize if the case has enough evidence to be transferred to federal attorneys. Though the standard is 2 months, more time may be requested if necessary with the court’s approval.

    There are two circumstances in which this seal can be nullified. The government can make all files related to the law suit public or the plaintiff can drop the case.

    Qui Tam on a State Level

    As government entities have consistently illustrated the success of the False Claims Act and other qui tam lawsuits, so many state governments have produced their own unique versions of the laws to stop fraud that occurs in the state. Similar to many state concerns, it makes sense that a variety of different whistleblower laws may change from one jurisdiction to the other.

    According to the state’s interpretation of their local concerns, regulations may be harsh related to what whistleblowers claim.

    Fraud can be a tough problem that is a concern for all governments. However, because the company gets bigger, the amounts cheated also rise, as well as the size of the average contract. Government entities work with a huge amount of fraud in each major industry annually. Although the state government amounts are significantly lower, the legislation is still required.

    In certain states, the difficulty of fraud is addressed only if it’s related to state run public programs. As healthcare fraud is generally a serious problem, it is usually regarded this way by the state as well. For a lot of states, whistleblower laws do not even extend beyond the healthcare system. They offer only protection and rewards to prospects filing Medicaid claims fraudulently or state health benefit programs.

    You won’t find many states that have no official laws related to this issue. As an alternative to full legislation that controls the whistleblower system, rewards are offered when the claims they’ve made against dishonestly operating companies are true and damages are recovered. Conversely, there are several states that have much lower standards in relation to what makes a qui tam claim, so the parties at fault have a much better chance at stopping illegal activity.

    Fraud on a state level that has an effect on important public programs or service contracts is really a serious problem for the US government as well as the taxpaying population. You can visit an attorney that specializes in this area to get more information on lawsuits.

    Famous Healthcare Whistleblower Lawsuits

    The U.S. government has recovered a huge amount of dollars thanks to enforcing the False Claims Act (FCA), as a result of people who are willing to help expose any type of fraud. Whistleblower actions, referred to as qui tam lawsuits, constitute 90% of the fraud cases from the healthcare industry and, when the federal government gets involved and wins, the people who expose illegal activity share between 15 to 25% from the recovery.

    The Most Popular Qui Tam Lawsuits

    The case against HCA lasted for over 10 years and then finally, the company pleaded guilty. The company had to pay a whopping $840,000,000 fine and another $600,000,000 + just to settle this. They were guilty of many violations that constituted the fines.

    Johnson and Johnson also had a case against it because of the defective devices for blood testing. In this case, those who brought the company to justice received more than $6,000,000 in rewards from this settlement. During the year 2001, the US government was able to recover over $30,000,000.
    In the year 2009, Pfizer settled a lawsuit that cost the company over $100 bill dollars. The company was exposed by whistleblowers and was found guilty of marketing off-label drugs. You can imagine how much the whistleblowers got in rewards.

    Some False Claims Act violators were also expected to sign long-term Corporate Integrity Agreements to allow independent, outside watchdogs to supervise their company practices to secure a length of quite a while.

    Government Recovery

    The US government recovered in excess of $3 billion in around 150 qui tam lawsuits. The largest case settlement totaled around $2.7 billion and most of them were related to the health care filed. More than 75% of those involved pharmaceuticals.

    States and Qui Tam Lawsuits

    States and cities have seen government effectiveness of qui tam lawsuits and now have cut back false claims and increased their revenues. With the enforcement of the 2005 Deficit Reduction Act, which states increased the recovery of Medicaid fraud with a higher prosecution rate. Many states developed their own version of the Act.

    Whistleblowing as being a Business

    There are people who build a business based on exposing fraudulent activity in the health care field. These businesses are able to recover millions year and stop Medicare fraud. These types of companies may also be hired to keep an eye on companies that have had cases filed against them to ensure they don’t engage in criminal activity again.


    What is business technology (BT)? Definition from #business #information

    #business technology

    #

    business technology (BT)

    Business technology (BT) is the ever-increasing reliance on information technology by businesses of all types to handle and optimize their business processes .

    Download this free guide

    Download 9 FREE Strategic Planning Templates that your Peers Already Use

    Having a clear-cut IT strategy is key establishing a competitive advantage over any competition. It can be the difference maker between a business’ success and its failure. Reach your business goals and stay organized by downloading this FREE e-guide which includes 9 templates already in use by major organizations such as NASA and Brown University.

    By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.

    You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy .





    Incorporation Services – Incorporate a Business Online: S Corp or C Corp


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    Form a corporation with speed, value and ease

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    Over the past 12 years, we ve gotten pretty good at helping people launch their businesses. In fact, we ve helped over 1 million of them.

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    Common questions

    What s the difference between a C corporation and an S corporation?

    The IRS allows corporations to choose to be taxed as either a C corporation or an S corporation. Income from C corporations are subject to double taxation; that is, the corporation pays taxes on its net income and then the shareholders also pay taxes on the income that they receive from the corporation.

    S corporations have only one level of taxation. The shareholders still have to pay taxes on money that they receive from the corporation, but an S corporation does not pay taxes on its net income. While the S corporation is popular among small business owners, C corporations have greater tax planning flexibility.

    How does a corporation protect my personal assets?

    If a business operates as a corporation, the business owners, called shareholders, are not personally liable for debts or other claims against the corporation. That s because the corporation is a separate legal entity from its owners. If a corporation complies with the formalities required for it to be treated as a separate legal entity, then anyone seeking to collect a debt from, or enforce a claim against, a corporation, would not be able to collect from the shareholders themselves. They would only be able to pursue the assets held in the name of the corporation.

    Why do many people choose to form their corporation in Delaware?

    Delaware is a very popular place in which to form corporations. However, the primary benefits apply to larger public corporations or those planning to go public. Delaware s laws provide heightened protection for board members against lawsuits brought by shareholders, and Delaware has a court exclusively dedicated to resolving corporate disputes. These benefits don t mean much to smaller corporations. Keep in mind that if a corporation forms in Delaware and does business in another state, the corporation would be required to file additional paperwork, and pay any taxes and/or fees required to do business in that state. Given those factors, many smaller corporations keep it simple and form in the state in which they plan to do business.

    An employer identification number (EIN), also known as a federal tax identification number, is used to identify a business entity for tax purposes. It s like a Social Security number, but for a business. In general, most businesses need an EIN. The only reason a business would not get an EIN is if it has only one owner, elects to be treated as a sole proprietor for tax purposes, and does not want to open a separate business bank account. In this case, the owner would use their Social Security number as the business identifier. However, there are disadvantages to this approach, namely the risk of liability.

    How are LLCs taxed?

    Unlike a corporation, LLCs have some flexibility in how they re taxed. Depending on how many members and the type of tax treatment the owner selects, the LLC can be taxed as either a corporation, partnership or as part of the owner s personal tax return (called a disregarded entity ). By default, an LLC with two or more members are taxed as a partnership, unless they file an IRS Form 8832 to elect to be treated as a corporation. If the LLC has only one owner, it will be taxed as a sole proprietor, unless the owner files Form 8832. It s not necessary to decide which tax treatment until after your business is formed. You have up to 12 months to decide and can speak to an accountant if you need help making this decision.

    What is a registered agent?

    A registered agent (sometimes called a resident agent or statutory agent) is a person or business authorized to accept important legal documents on behalf of a business. States require businesses to provide the name of their registered agent at the time they form their business entity. While you can be your own registered agent, there are disadvantages. You have to be available during regular business hours and your information goes on the public record. If you miss a filing deadline, you risk being fined or shut down. Our registered agent service can ensure you receive important business documents, sort through junk mail and keep your information private.

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    Definition of Stock Market – The Economic Times #business #seminars

    #stock markets

    #

    Definition of ‘Stock Market’

    Definition: It is a place where shares of pubic listed companies are traded. The primary market is where companies float shares to the general public in an initial public offering (IPO) to raise capital.

    Description: Once new securities have been sold in the primary market, they are traded in the secondary market—where one investor buys shares from another investor at the prevailing market price or at whatever price both the buyer and seller agree upon. The secondary market or the stock exchanges are regulated by the regulatory authority. In India, the secondary and primary markets are governed by the Security and Exchange Board of India (SEBI).

    A stock exchange facilitates stock brokers to trade company stocks and other securities. A stock may be bought or sold only if it is listed on an exchange. Thus, it is the meeting place of the stock buyers and sellers. India’s premier stock exchanges are the Bombay Stock Exchange and the National Stock Exchange.

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    International business etiquette in Europe – definition and etiquette tips #business #services

    #business etiquette

    #

    Business Etiquette

    International Business Etiquette definition and tips

    Do you know the definition of Business Etiquette? Business etiquette is about building relationships with other people. Etiquette is not about rules regulations but is about providing basic social comfort and creating an environment where others feel comfortable and secure, this is possible through better communication.

    Social media communication platforms (i.e. Facebook, Linkedin) are evolving rapidly day by day, as the concept of social media etiquette becomes a crucial part of business. Business etiquette consists of two things. Firstly, thoughtful consideration of the interests and feelings of others and secondly, being able to minimise misunderstandings. These are influenced by individual behaviour demeanour. Business etiquette instructs this behaviour.

    Business etiquette differs from region to region and from country to country. This creates a complex situation for people as it is hard to balance the focus on both international business etiquette and other business activities at the same time. Therefore, a wise step is to focus on some key pillars of business etiquette.

    Here are some key business etiquette tips that mean real success to business:

    ‘ Thank You ’ Note

    If you want to differentiate yourself from others then never forget to write a‘Thank You’ note to your job interviewer or your client. This will leave a good impression and also reflect well on your company.

    Give others respect by knowing their names which will increase goodwill and communication. it is also worth management stepping back and acknowledging people individually for their good work as this will enhance their self esteem and increase motivation.

    Observe the Elevator Rule

    Be mindful of saying appropriate things at a job interview or client meeting. Don’t start discussing business with a client or interviewer as soon as you step out of the lift. By doing so, you avoid the risk of damaging your reputation.

    Focus on the Face, Not the Screen

    Never forget to switch off your phone and try not to use any other device just to prove you are a multitasking individual. In fact, in the world of business this is considered bad manners. Concentrate on the meeting and listen to what people are saying.

    Everyone is unique in their own way and uses a different approach to deal with situations. Therefore, if you disagree with another person’s approach instead of criticising try to understand it from their point of view. By doing so, you create a friendly environment. Always remember you get respect by giving respect.

    Whether in business or between individuals, one concern is brand awareness. Individuals want to be noticed both socially and professionally. People want to be remembered by others.

    However, in the digital landscape you have to be very careful when trying to pursue your brand awareness. Think carefully before doing. What we mean by this is that before creating a hashtag, posting on a Facebook wall or texting think how the other person will feel when they receive your message.

    Character, Behaviour, Honesty

    Your character reflects your individuality and your behaviour exhibits your personality. Business etiquette encourages revealing your positive qualities. This helps your reputation.

    Always be honest and remember that it takes a long time to develop trust and a good reputation and only one small mistake to lose it. Business etiquette provides a framework for stating the boundaries of terms conditions, contracts and promises.

    Sensitivity Diplomacy

    A key pillar of business etiquette is sensitivity, meaning giving careful thought to every business aspect before making a judgement. This gives a strong foundation to your business. Also, thoughtless words and actions lead to a negative outcome. Being aware of business etiquette encourages careful thought.

    Elements of business etiquette

    Business etiquette instructs on you how to present yourself professionally in different cultures. The keys for making a good impression are dressing appropriately, your body language, presenting your business cards, gift giving, conducting meetings and many other important elements.





    Cash Flow Definition #business #ethics

    #cash flow business

    #

    Cash Flow

    What is ‘Cash Flow’

    Cash flow is the net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company’s liquid assets are increasing, enabling it to settle debts. reinvest in its business, return money to shareholders, pay expenses and provide a buffer against future financial challenges. Negative cash flow indicates that a company’s liquid assets are decreasing. Net cash flow is distinguished from net income. which includes accounts receivable and other items for which payment has not actually been received. Cash flow is used to assess the quality of a company’s income, that is, how liquid it is, which can indicate whether the company is positioned to remain solvent .

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    BREAKING DOWN ‘Cash Flow’

    The accrual accounting method allows companies to count their chickens before they hatch, so to speak, by considering credit as part of a company’s income. “Accounts receivable ” and “settlement due from customers” can appear as line items in the assets portion of a company’s balance sheet. but these items do not represent completed transactions, for which payment has been received. They do not, therefore, count as cash. (Note that the credit vs. cash distinction is not the same as it is in everyday terminology; proceeds from credit card transactions are considered cash once they are transferred.)

    The opposite can also be true. A company may be receiving massive inflows of cash, but only because it is selling off its long-term assets. A company that is selling itself for parts may be building up liquidity. but it is limiting its potential for growth in the long term, and perhaps setting itself up to fail. In the same vein, a company may be taking in cash by issuing bonds and taking on unsustainable levels of debt. For these reasons it is necessary to view a company’s cash flow statement. balance sheet and income statement together.

    Cash Flow Statement

    Often called the “statement of cash flows,” the cash flow statement indicates whether a company’s income is languishing in the form of IOUs – not a sustainable situation in the long term – or is translating into cash flow. Even very profitable companies, as measured by their net incomes. can become insolvent if they do not have the cash and cash-equivalents to settle short-term liabilities. If a company’s profit is tied up in accounts receivable, prepaid expenses and inventory. it may not have the liquidity to survive a downturn in its business or a lawsuit. Cash flow determines the quality of a company’s income; if net cash flow is less than net income, that could be a cause for concern.

    Cash flow statements are divided into three categories: operating cash flow. investing cash flow and financing cash flow. Operating cash flows are those related to a company’s operations, that is, its day-to-day business. Investing cash flows relate to its investments in businesses through acquisition ; in long-term assets, such as towers for a telecom provider; and in securities. Financing cash flows relate to a company’s investors and creditors: dividends paid to stockholders would be recorded here, as would cash proceeds from issuing bonds.

    Free cash flow is defined as a company’s operating cash flow minus capital expenditures. This is the money that can be used to pay dividends. buy back stock. pay off debt and expand the business.

    Real World Example

    Below is a reproduction of Wal-Mart Stores Inc.’s (WMT ) cash flow statement for the quarter ended April 30, 2015. All amounts are in million of U.S. dollars.

    Cash flows from operating activities:





    What Is Business Environment? Definition & Factors – Video & Lesson Transcript

    #business environment

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    What Is Business Environment? – Definition & Factors

    Businesses do not operate in a vacuum; they operate in an environment. In this lesson, you’ll learn about the business environment, including what makes it up. A short quiz follows the lesson.

    Business Environment Defined

    Business environment is the sum total of all external and internal factors that influence a business. You should keep in mind that external factors and internal factors can influence each other and work together to affect a business. For example, a health and safety regulation is an external factor that influences the internal environment of business operations. Additionally, some external factors are beyond your control. These factors are often called external constraints. Let’s take a look at some key environmental factors.

    External Factors

    Political factors are governmental activities and political conditions that may affect your business. Examples include laws, regulations, tariffs and other trade barriers, war, and social unrest.

    Macroeconomic factors are factors that affect the entire economy, not just your business. Examples include things like interest rates, unemployment rates, currency exchange rates, consumer confidence, consumer discretionary income, consumer savings rates, recessions, and depressions.

    Microeconomic factors are factors that can affect your business, such as market size, demand, supply, relationships with suppliers and your distribution chain, such as retail stores that sell your products, and the number and strength of your competition.

    Social factors are basically sociological factors related to general society and social relations that affect your business. Social factors include social movements, such as environmental movements, as well as changes in fashion and consumer preferences. For example, clothing fashions change with the season, and there is a current trend towards green construction and organic foods.

    Technological factors are technological innovations that can either benefit or hurt your business. Some technological innovations can increase your productivity and profit margins, such as computer software and automated production. On the other hand, some technological innovations pose an existential threat to a business, such as Internet streaming challenging the DVD rental business.

    Internal Factors

    Organizational culture is the framework of values, vision, norms, and customs shared by the members of an organization. Your business culture affects how the employees in your business interact with each other, its customers, and other stakeholders.

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    Organizational structure is the manner in which the business is organized to conduct its activities. Organizations can be organized fairly flat, with very few levels of hierarchy, or organized very vertical, with many levels of hierarchy. The manner in which an organization is structured will affect how your business is managed and how much control individual employees have over their work.

    Management structure is the manner in which your business is managed. Management may be centralized, where all decision-making is made at the top and filtered down throughout the business, or it may be decentralized, where the decision-making is distributed throughout the organization and decisions are made closer to the relevant work activities or problems.

    Lesson Summary

    Business environment includes the external and internal factors that influence a business. External factors include political factors, macroeconomic factors, microeconomic factors, social factors, and technological factors. Internal factors are factors from inside the organization that affect a business, such as organizational culture, organizational structure, and management structure.

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