agreement reached between a franchiser and a minority business organization to
extend business ownership to minorities by either reducing the amount of capital
required by setting aside certain marketing areas for minority business owners.
study to determine the likelihood that a proposed product or development will
fulfill the objectives of a particular investor.
individual or group that holds assets in trust for a beneficiary.
techniques used to determine money needs in a business. Techniques include ratio
analysis, calculation of return on investment, guides for measuring
profitability and break-even analysis to determine ultimate success.
financial institution that acts as the intermediary between borrowers and
lenders. Banks, savings and loan associations, finance companies and venture
capital companies are major financial intermediaries.
written record of business finances, including
balance sheets and
Financing (also known as Early
stage financing and First-round
provided to companies that have expended their initial capital and require funds
to start full-scale manufacturing and sales.
non-liquid assets that are integral to the enterprise's day-to-day business
operations such as plants, equipment, furniture and real estate.
day-to-day cost of doing business that is pre-committed, such as salaries,
insurance, lease expenses and utilities.
plan that offers a choice among cash and/or qualified benefits such as
group term life insurance, accident and health insurance, group legal services,
dependent care assistance and vacations.
The capacity to say
'yes' when the whole world wants to say, 'NO, it can't be done'.
terms referring to Product, Price, Place and Promotion.
form of licensing by which the owner - the franchiser - distributes or markets a
product, method, or service through affiliated dealers called franchisees. The
product, method, or service being marketed is identified by a brand name and the
franchiser maintains control over the marketing methods employed. The franchisee
is often given exclusive access to a defined geographic area.
on Board (FOB)
pricing term indicating that the quoted price includes the cost of loading goods
into transport vessels at a specified place.
system necessary for accurate delivery or an ordered item, including
subscriptions and direct marketing.
key contact point for entry into a network.
Gazelles are publicly
traded companies that have grown at least 20% for each of the last four years,
starting with at least US$ 1 million in sales.
corporation that owns either a controlling interest in another company or all of
its shares. The accounts of a wholly-owned subsidiary may be consolidated with
those of the parent company. Normally a company whose main assets are securities
in other companies.
from informal, unorganized sources; includes informal debt capital such as trade
credit or loans from friends and relatives and equity capital from informal
Public Offering (IPO)
corporation's first offering of stock to the public.
of new knowledge into new products and services.
idea or work that can be considered proprietary in nature and is thus protected
from infringement by others.
tangible form of a technological idea, which could include a laboratory
prototype, drawings or formulas.
in which two or more people combine efforts in a particular business enterprise,
usually a single transaction or a limited activity and agree to share the
profits and losses jointly or in proportion to their contributions.
Kaizen means "improvement". Kaizen strategy
never-ending efforts for improvement involving everyone in the
organization – managers and workers alike.