A "need" is something you have to have, a necessity. We all need food, shelter, clothes and other basics. A "want" is something you would like to have, but don't really need. Try explaining that ...

Word of mouth (WOM) marketing, whether online or live, involves getting people talking about a product, service or brand. When successful, the technique meets a marketing objective by motivating ...

Globalization provides opportunities for businesses to invest in foreign markets and to gain access to new capital. A key concern in achieving financial results through globalization is the effect ...

Somebody starts with an idea for a message. Then they finesse it, develop it and select the medium, or channel, for the message. When they're good and ready, they send the message, and someone ...

An organization is made up of many people and activities. Companies plan for the future and manage the present. They budget, report and track success by developing processes and systems that ...

Business use either a cash or accrual accounting system to allocate incoming revenue and exiting expenses in the company books. The cash system requires the reporting of revenue when a payment is ...

A limited liability company, or LLC, is a type of business structure constituted by state laws that help business owners add protection to their personal assets and make legal disputes regarding ...

Service industries often rely on exceptional customer service to ensure strong operations and to attract repeat business. Continually setting goals and measuring performance in these key areas ...

When starting a new business, you may wish to distribute part of the equity in your company to friends and family members. While traditionally, those who receive equity put some type of financial ...

As long as the thrift store is nonprofit as well, it can sell items donated to a 501(c)(3) nonprofit. Many churches and other charities run thrift stores as part of their mission to help people in ...

A payee is a person or business entity receiving a payment. If you're sending an invoice payment, the payee is the vendor, credit card company or government agency to whom you've written the check.

Company layoffs often include severance package costs and the potential for negative publicity in the local community. Despite these drawbacks, companies sometimes accept the risks to achieve a ...