A mission statement, which is different from a vision statement, defines the purpose and objectives of a company in the present. A mission statement explains why does the company do what it does, for whom and how. Its focus is on the present leading to the future. The main purpose of a mission …
Business Terms Articles and Interviews (category)
What is a Seasonal Business?
Often a seasonal business is thought of as business that is incrementally more busy during a holiday season. For example: a florist sells more flowers during Valentine’s Day. But a seasonal business is technically, any business which gains incremental sales during any measurable time period. Like a …
What is social media?
Social media are web-based, digital tools and applications that allow people to interact, create, share or exchange information, ideas, and pictures/videos in online virtual communities and networks. Some popular social media sites include: Twitter, Facebook, Wikipedia, Google+, LinkedIn, YouTube, …
What is Cash Flow?
Cash flow is the net amount of cash and cash-equivalents flowing in and out of a business. In accounting terms, if the amount of cash at the end of a period is greater than the amount of cash at the start of the period, the company is said to have “positive” cash flow. Cash flow is principally a …
What is a P&L, or Profit and Loss Statement?
A P&L is a financial statement that summarizes all the revenues, costs and expenses that a business has incurred over a period of time. The P&L is a helpful snapshot of the company’s ability to generate profits, either by increasing revenues or by reducing costs and expenses. Usually …
What is an Infographic and What Are They Used For?
An infographic is a data-rich, graphical representation of a story or thesis. It combines text and graphics to convey a message in a more interesting medium than an article or single photo. Research shows infographics to be around 30 times more likely to be read than plain text articles. The purpose …
