A “red herring” is a term used to describe a distractor or false lead in an argument or debate. The term is derived from the practice of using a smoked herring to distract a hunting dog from its prey. In debate, a red herring is an argument or piece of information that is not relevant … Read more
A social entrepreneur is an individual who pursues an entrepreneurial venture with the goal of achieving social and/or environmental change. Social entrepreneurs are typically motivated by a desire to solve a social or environmental problem and they use entrepreneurial principles to launch and grow their ventures. Social entrepreneurship is a relatively new field, and as … Read more
Profit margins represent the percentage of revenue that a company keeps as profit after accounting for all expenses. A company’s profit margin is a measure of its pricing strategy and overall efficiency. There are two key types of profit margins: gross profit margin and operating profit margin. Gross profit margin is the percentage of revenue … Read more
An enterprise resource planning (ERP) system is a software application that helps businesses manage their core operations, such as accounting, human resources, and customer relationship management (CRM). ERP systems are usually designed for large organizations and can be complex to implement and maintain. Third-party ERP software vendors are companies that provide ERP software and services … Read more
A T-shaped employee is an individual with a deep understanding of one particular area or discipline, as well as a broad understanding of a range of other disciplines. This type of employee is often seen as being more well-rounded and versatile than those with a more narrowly focused skillset. The term “T-shaped employee” is often … Read more
Buzzword bingo is a game in which participants try to spot buzzwords and jargon being used by speakers and then mark them off on a bingo card. The game is often played at conferences or other events where jargon is likely to be used. How do you play a bingo at a meeting? To play … Read more
The term “B2B2C (business-to-business-to-consumer)” refers to a type of business model in which a company provides goods or services to another business, which in turn sells those goods or services to consumers. This type of business model is often used by companies that sell products or services that require a certain level of expertise or … Read more
An action item is a task that is assigned to a specific person or group of people in order to be completed within a certain timeframe. Action items are typically used in business and project management in order to keep track of tasks that need to be completed in order to reach a goal. What … Read more
An elevator pitch is a short, persuasive speech that you use to sell your product, service, or business. You make this speech to people who are interested in what you do, but who don’t have time to listen to a long pitch. The name “elevator pitch” comes from the idea that you should be able … Read more
A fiscal quarter is a three-month period used by governments and businesses for financial reporting purposes. The first quarter is the period from January 1 to March 31, the second quarter is the period from April 1 to June 30, the third quarter is the period from July 1 to September 30, and the fourth … Read more
