Consisting of elected individuals who serve as advisors to a corporation, a board of directors acts as a proxy (representative or substitute) for shareholders. For-profit and nonprofit corporations ‚...
A cash market is a market for securities or commodities in which the goods are sold for cash and delivered immediately. In some cases, "immediate" means one month or less. For example, foreign exchan...
In the manufacturing and logistics world, just in time (JIT) inventory management helps companies reduce storage costs and improve quality. Originated by the Toyota Motor Company, just in time practic...
Liquidity risk is the risk that a company or individual will not be able to meet short-term financial obligations due to the inability to convert assets into cash without incurring a loss. This most ...
The meaning of marketing mix can best be referred to as the combination of elements that are used to promote products or services. These elements vary and are based upon the analysis of the four main...
Opportunity cost is the return on an investment/opportunity you missed out on, compared to the return on the investment that you chose. To determine what was lost (or gained), opportunity cost may be...
Outsourcing is a business strategy that includes transferring work from a company’s employees to an external party. Many companies outsource their services and the creation of goods with the goal o...
A value proposition is a marketing statement that positions a company’s products in the mind of the consumer as the best one for their needs. It clearly, easily, and concisely articulates what the c...
Work in process refers to items in a manufacturing plant that are in the stages between raw materials and finished goods (or inventory). In-process goods are expected to be finished and moved into in...