marketing

Equity

(n.) the state or quality of being just, fair, or impartial; fair and equal treatment; something that is fair; the money value of a property above and beyond any mortgage or other claim

Franchise

A business established or operated under an authorization to sell or distribute a company's goods or services in a particular area

Partnership

A business in which two or more persons combine their assets and skills

sole proprietor

A business owned by one person

small buisness

A business which is independently owned and operated and is not dominant in its field of operations.

C Corp

A legal entity that offers limited liability with double taxation.

commission

An amount paid to an employee based on a percentage of the employee's sales

Capital

An economic system based on private ownership of capital

non-profit

An organization that is set up to help those in need but not to make a profit from the business.

CFO

Chief Financial Officer

coo

Chief Operating Officer

Business life cycle - survival stage

Companies in the survival stage have proven that they have a profitable product or service and have an established customer base.

Design Thinking Process - Prototype stage

Design Thinking Process - Prototype stage

Design Thinking Process - Empathize stage (1)

Empathize is the first stage of the design thinking process.

Business life cycle - existence stage

Every business goes through four phases of a life cycle

Design Thinking Process - ideate stage

Ideation is a creative process where designers generate ideas in sessions (

Design Thinking Process - define stage

In the design thinking define stage, the purpose is to create a problem statement through the process of analyzing to synthesize.

Business life cycle - success stage

Life cycle of business

LLC (Limited Liability Company)

Limited liability, pass through income taxation, flexibility

Stockholder

The owner of one or more shares of stock

Design Thinking Process - Final Test stage

Try Your Solutions Out. Test: the fifth and final phase of the design thinking process, where you test solutions to derive a deep understanding of the product and its users.

Business life cycle - resource maturity stage

What are the stages of a corporation's life cycle?

CEO

a chief executive officer, the highest-ranking person in a company or other institution, ultimately responsible for making managerial decisions.

Piecework

a compensation system in which employees are paid a set rate for each item they produce

S Corp

a corporation that is taxed as though it were a partnership. In other words, the corporation's income is taxed only as the personal income of its stockholders.

Entrepreneur

a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.

salaried

an employee paid a predetermined amount of money every pay period regardless of the number of hours worked

B2B

business to business

tangible

can be touched

Ecommerce

commercial transactions conducted electronically on the Internet.

Digital Goods

goods that can be delivered over a digital network

Employees

people who work for someone else

MVP

the most valuable player

Stakeholders

the people whose interests are affected by an organization's activities

B2C

the process in which businesses sell to consumers

founder

to fail; to collapse; to sink