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

Why These Newlyweds Opened the First Ever Orangetheory Fitness in Manhattan
Franchise Players

Why These Newlyweds Opened the First Ever Orangetheory Fitness in Manhattan

Five years after the concept's creation, Adam Krell and Jessica Kumari opened the fitness franchise's first location in Manhattan.
Kate Taylor
The Ultimate Guide to Learning Anything Faster
Learning

The Ultimate Guide to Learning Anything Faster

Want to master business skills, a new language, a musical instrument? Use these six principles.
Sean Kim
To Snag Top Employees for Your Startup, Use the R.O.W.E. Strategy
Employee Morale

To Snag Top Employees for Your Startup, Use the R.O.W.E. Strategy

By implementing the strategy, you can help your company attract and retain the best talent.
Andrey Akselrod
10 Steps Needed to Take to Properly Fire Someone
Firing

10 Steps Needed to Take to Properly Fire Someone

'You're fired.' Before you even think of uttering those words, you'd better be sure they'll stand up in court.
7 'Recipes' That'll Simplify Your Recruiting Process
Hiring

7 'Recipes' That'll Simplify Your Recruiting Process

Use the web tool IFTTT to automatically email you notes or even bail you out of a bad interview.
Eric Siu
Meet Amelia, the AI Platform That Could Change the Future of IT
Innovators

Meet Amelia, the AI Platform That Could Change the Future of IT

Created by IPsoft, the virtual agent avatar can absorb in seconds the same instruction manuals that human employees spend weeks memorizing.
Jason Ankeny
4 Ways to Get Truly Honest Feedback From Employees
Employee Feedback

4 Ways to Get Truly Honest Feedback From Employees

While positive feedback encourages people to continue doing what they do well, it's the constructive feedback that helps people -- and businesses -- grow.
Andre Lavoie
10 Online Invoicing Services for Small-Business Owners
Cash Flow Center

10 Online Invoicing Services for Small-Business Owners

Who needs an accountant when there is such a wide array of online services available?
Drew Hendricks
How This Natural, Sugar-Free Soda Is Making Major Inroads With Consumers
Nutrition

How This Natural, Sugar-Free Soda Is Making Major Inroads With Consumers

Coke and Pepsi, look out. Zevia has its eye on you.
Margaret Littman
What Matters More, the Quality or Size of Your Social Media Audience?
Social Media

What Matters More, the Quality or Size of Your Social Media Audience?

Should brands seek to bring on as many followers on as many platforms as possible?
Deborah Mitchell
Ford CEO Wants to Make a Self-Driving Car for the Masses
Self-Driving Cars

Ford CEO Wants to Make a Self-Driving Car for the Masses

In a wide-ranging interview, CEO Mark Fields talked about his strategy and plans to deal with challenges from Google, Uber and ... China.
Verne Kopytoff
Small-Business Owners: How to Get Your Life Back
Managing Employees

Small-Business Owners: How to Get Your Life Back

Delegate. Delegate. Delegate some more.
This Company's Headquarters Looks Just Like Star Trek's USS Enterprise
Star Trek

This Company's Headquarters Looks Just Like Star Trek's USS Enterprise

One building boldly goes where no building has gone before.
Jason Fell
Twitter Reportedly in Talks to Buy Flipboard
Twitter

Twitter Reportedly in Talks to Buy Flipboard

The social network is rumored to be exploring an all-stock deal that would value the social news reader at more than $1 billion.
Nina Zipkin
3 Innovative Ways to Structure Your HR Department
Human Resources

3 Innovative Ways to Structure Your HR Department

How to attract and retain the team you need is evolving as rapidly as the rest of the business world.
Matt Straz
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