A sales commission is the amount of money that is gained by a salesperson based on the amount of sales they have achieved. A sales commission could be a flat amount per sale or a percentage of total sales for a period of time. It’s common for a salesperson to receive a sales commission in addition …
Business Terms Articles and Interviews (category)
What is a Stakeholder?
A stakeholder is any party with an interest in a business enterprise or project. Stakeholders can be in external or internal proximity to the organization. Typical business stakeholders are investors, owners, managers, employees, suppliers, and customers. A stakeholder can affect a business, be …
What is a Vision Statement, and How is it Different Than a Mission Statement?
A vision statement, which is different from a mission statement, defines the purpose and objectives of a company for the future. A vision statement explains what the company hopes to do going forward, when does the company want to do it, and how does the company accomplish its future goals. Its …
What is Revenue?
Revenue is the amount of money a company brings in from any of its business activities. Revenue can be accounted for in several different ways and can also be divided into “operating revenue” or “non-operating revenue”. Operating revenue is the revenue generated from a company’s core business, while …
What is Marketing, and How Is It Different from Sales?
Marketing is the integrated strategic approach to identifying, reaching and preparing prospects or leads for the sales process. Marketing strategies can include: market analysis, public relations, advertising, pricing strategies, and customer service. The strategy behind marketing is to “pull” with …
What Does the Term “Mutually Exclusive” Mean
The term “mutually exclusive” is a term used to describe two events that cannot both be true to occur. A coin flip is an example of a mutually exclusive event. A flipped coin cannot read both heads and tails at the same time. The probability of a coin flip reading both heads and tails would be zero, …
