Ten3 Glossary of Business Terms 

The Ten3 Glossary serves also as an Alphabetical Directory of the Ten3 Business e-Coach

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Scale Economies

The decline of the production cost per unit of output (average cost) as the volume of output increases.

Second-stage Financing (also known as Second-round financing)

Working capital for the initial expansion of a company that is producing, shipping and has growing accounts receivable and inventories.

Seed Capital

Venture financing provided in the early stages of the innovation process, usually during product development.

SMEs

Small- and medium-sized enterprises. Companies whose headcount or turnover falls below certain limits. According to the World Bank’s definition, an SME has no more than 300 employees and annual turnover / total assets no more than US$ 15 million.

Start-up

A new business, at the earliest stages of development and financing.

Start-up Costs

Costs incurred before a business can commence operations.

Strategic Business Unit (SBU)

In business portfolio analysis, a significant organizational segment that is analyzed to develop organizational strategy aimed at generating future business or revenue. SBUs vary in form, but all are a single business (or collection of businesses), have their own competitors and a manager accountable for operations, and can be independently planned for.

Strategic Relationships

An agreement between two or more enterprises to conduct specified business process in a joint manner. This usually relates to technology development or marketing and distribution efforts.

Surety Bonds

Bonds providing reimbursement to an individual, company or a government is a firm fails to complete a contract.

Sustainable Competitive Advantage

Sustainable competitive advantage is the prolonged benefit of implementing some unique value-creating strategy based on unique combination of internal organizational resources and capabilities that cannot be replicated by competitors.

SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis

A strategy development tool that matches internal organizational strengths and weaknesses with external opportunities and threats.

Synergy

Synergy is the energy or force created by the working together of various parts or processes. Synergy in business is the benefit derived from combining two or more elements (or businesses) so that the performance of the combination is higher than that of the sum of the individual elements (or businesses).

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Systems Thinking

Systems thinking is the ability to things as a whole (or holistically) including the many different types of relationships between the many elements in a complex system.

Team

Team is a group whose members influence one another toward the accomplishment of (an) organizational objective(s).

Technical Evaluation

Assessment of technological feasibility

Technology

The method in which a firm combines and utilizes labor and capital resources to produce goods or services; the application of science for commercial or industrial purposes.

Technology Management

Application of managerial techniques most suitable for ensuring that the technological factor is exploited for achievement of an enterprise's goals.

Technology Transfer

The movement of information about a technology or intellectual property from one party to another for use.

Time Management

Skills and scheduling techniques used to maximize productivity.

Tool Box

Slang for instruments, tactics, and methods available to a manager for making a deal. The person who is unfamiliar with the tools one has for use is handicapped in cutting deals. Some tools are: money, securities, rights, options, perquisites, tax benefits, employment, licenses, distribution rights, leases, royalties, etc.

Trademarks

A graphic symbol, device or slogan that identifies a business. A business has property right to its trademark from the inception of its use (in USA) or since its registration (in Europe). Trademark laws guarantee that a special mark placed on a certain kind of goods indicates the origin of the goods; more specifically the manufacturer of the goods or a service provider.

Trade Secrets

A commercially valuable idea that is not disclosed to the public. Competitive advantage gained by a business through use of a unique manufacturing process or formula.

Underwriting

A process by which an insurer determines whether or not and on what basis it will accept an application for insurance. In an experience-rated plan, premiums are based on a firm's or group's past claims; factors other than prior claims are used for community-rated or manually rated plans.

Unique Selling Proposition (USP)

A unique selling proposition (USP) defines your competitive advantage. Your must identify what makes you different from your competitors and emphasize these advantages in your marketing.

 

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