Small Business Encyclopedia

Category: Operations

Business Cycle

Definition: Periods during which a business, an industry or the entire economy expands and contracts

Capital Equipment

Definition: Equipment that you use to manufacture a product, provide a service or use to sell, store and deliver merchandise. This equipment has an extended life so that it is properly regarded as a fixed asset.

Depreciation

Definition: An expense item set up to express the diminishing life expectancy and value of any equipment (including vehicles). Depreciation is set up over a fixed period of time based on current tax regulation. Items fully depreciated are no longer carried as assets on the company books.

Distribution Models

Definition: The manner in which goods move from the manufacturer to the outlet where the consumer purchases them; in some marketplaces, it's a very complex channel, including distributors, wholesaler, jobbers and brokers.

Economic Development Agency

Definition: An agency whose goal is to help develop and support economic growth within a specified city, region or state by providing necessary resources and assistance

Exporting

Definition: The selling of goods and services produced in one country in another country

Fulfillment

Definition: The process of receiving, packaging and shipping orders for goods

Importing

Definition: The process of bringing goods from one country for the purpose of reselling them in another country

Inventory

Definition: An itemized list or catalog of the stock of a business

Outsourcing

Definition: The practice of having certain job functions done outside a company instead of having an in-house department or employee handle them; functions can be outsourced to either a company or an individual

Overhead

Definition: The indirect costs or fixed expenses of operating a business (that is, the costs not directly related to the manufacture of a product or delivery of a service) that range from rent to administrative costs to marketing costs

Packaging

Definition: The wrapping material around a consumer item that serves to contain, identify, describe, protect, display, promote and otherwise make the product marketable and keep it clean

Permits

Definition: A legal document giving official permission to do something

Private Label Sales

Definition: Licensing your product to another company to sell under its own name, rather than under yours

Product Development

Definition: The overall process of strategy, organization, concept generation, product and marketing plan creation and evaluation, and commercialization of a new product

Relocation

Definition: The movement of a business from one region or location to another

Return on Investment (ROI)

Definition: A profitability measure that evaluates the performance of a business by dividing net profit by net worth

Shipping

Definition: The business of sending or transporting goods

Signage and Sign Permits

Definition: Any publicly displayed information that's presented in the form of words, symbols and/or pictures and is designed to advertise your business. Sign permits provide legal permission to post such information.

Supplier Relationships

Definition: Affiliations with the companies that supply your business with goods and services

Vehicle Fleet

Definition: Vehicles owned by a company and used for business purposes

Free Business Tools

Forms

Forms

Download and customize these free forms:

Partnership Agreement

Cashflow Worksheet

Employment Application

Calculators

Calculators

Evaluate and analyze your financials:

Cash Flow

Starting Costs

Discounted Cash Flow

Ads by Google

Latest Articles

8 Best Practices to Seek Funding From Friends, Family and Fools
Finance

8 Best Practices to Seek Funding From Friends, Family and Fools

If the people closest to you won't support you, why should investors?
Martin Zwilling
10 Cities in the U.S. With the Longest Commute Times
Commutes

10 Cities in the U.S. With the Longest Commute Times

Transportation researchers analyzed how long it takes workers in the biggest cities to get to and from work.
Catherine Clifford
5 Questions That Identify Growth-Minded Employees
Managing Employees

5 Questions That Identify Growth-Minded Employees

To grow as an organization you need to develop not only the systems and processes that support product demand but also the right people that contribute to its growth.
Jeff Boss
Use Your Drive to Create Your Habits
Habits

Use Your Drive to Create Your Habits

From closing the loop to setting your intention, behavioral-science expert and author James Clear explains at an 'Entrepreneur 'event how creating habits can help you get where you want to go.
Melanie Spring
We Asked Whether Schools Should Stop Teaching With Paper and Pens. And the Reaction Was Fiery.
Learning

We Asked Whether Schools Should Stop Teaching With Paper and Pens. And the Reaction Was Fiery.

There was an overwhelming call to keep them in the classroom.
Laura Entis
The Signatures of 25 Tech Titans and What They Say About Their Personalities
Infographics

The Signatures of 25 Tech Titans and What They Say About Their Personalities

Judging by their autographs, Bill Gates is unpretentious, Tim Cook is whip-smart and Mark Zuckerberg is super private, that is if you buy into graphology.
Kim Lachance Shandrow
How to Succeed in Franchising Your Business
Franchises

How to Succeed in Franchising Your Business

The most successful franchises have a few strengths and strategies in common. Here's how they play to win.
6 Ways to Write Your Own Success Story in the Booming Sharing Economy
Sharing Economy

6 Ways to Write Your Own Success Story in the Booming Sharing Economy

The growth of the sharing economy shows no signs of slacking, largely because entrepreneurs continue to innovate.
Tx Zhuo
4 Ways to Proactively Shift Your Culture Before You Outgrow It
Company Culture

4 Ways to Proactively Shift Your Culture Before You Outgrow It

As CEO, you have the power to make a difference in how staffers view your workplace. So, exercise that power.
Stirling Cox
'Bacon' and 'Drooling Face' Are Among the 38 New Emojis Arriving Next Year
Emoji

'Bacon' and 'Drooling Face' Are Among the 38 New Emojis Arriving Next Year

The additions serve to honor popular requests as well as fill existing gaps.
Geoff Weiss
Creating Insight-Driven Experiences to Build Brands
Experimental marketing strategies

Creating Insight-Driven Experiences to Build Brands

What does your audience really want? That's what you need to find out.
Gabrey Means and Cassie Hughes
8 Digital Experts Entrepreneurs Can Learn From
Digital Communications

8 Digital Experts Entrepreneurs Can Learn From

These men and women's strong personal brands act as positive beacons for their companies.
Mel Carson
Chef Sentenced to Three Years in Jail for Spitting in Customer's Food
Legal Center

Chef Sentenced to Three Years in Jail for Spitting in Customer's Food

The New Jersey cook spat on an overly demanding customer's roll.
Kate Taylor
3 Things You Need to Know About a Startup's Personality
Company Culture

3 Things You Need to Know About a Startup's Personality

Companies have personality traits just like people. What's your company's personality?
Molly Owens
For Luxe Clients, What You Should Say But Haven't
You've Arrived

For Luxe Clients, What You Should Say But Haven't

Your clients might not expect to hear these phrases but they can help your bottom line.
Margaret Littman
More Articles

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

Ads by Google