An amount charged for physical labor associated with processing a product or in processing paperwork; a processing charge or fee.
A management style wherein the manager or owner of a business participates in the day-to-day operation of the business.
Currency in which there is widespread confidence. It is the currency of an economically and politically stable country, such as the United States. As contrasted with SOFT CURRENCY. Gold or coins as contrasted with paper currency. Sometimes paper money is considered soft money.
Payment in cash or cash equivalent. Hard dollars are considered as money in hand. As opposed to a loan or a promise of payment that is money to be received in the future. Contrasts with SOFT DOLLARS.
See HARD CURRENCY.
A line of products used in construction and mechanical trades, including tools, equipment and supplies. Computers and accessories; the mechanical equipment in which SOFTWARE is recorded.
INSURANCE coverage for a loss resulting from physical damage to property (usually for real property) due to hazards such as fire, flood and wind storm.
A basic INDUSTRY that converts raw materials into finished goods or that manufactures equipment. Heavy industry consists of factories, mills, manufacturing plants and other businesses that require ample property to accommodate their nature and function. The term connotes noise, pollution, heavy truck traffic, vibration, fumes and other annoyances.
A risk associated with a business venture that is not apparent without considerable investigation and knowledge. In business, there are always unknown factors that can affect the profitability of the business. Therefore, the business entrepreneur should constantly evaluate all phases of business activity to minimize the amount of hidden (unknown or unforeseen) risk.
Actual costs, as opposed to projected or forecasted costs; expenditures recorded in the books of account.
A company that owns, directs or controls the operations of one or more other corporations and subsidiaries; a corporation organized to hold the stock of other corporations; a conglomerate. A holding company usually does not have business of its own. See also SUBSIDIARY; PARENT COMPANY.
For a business, a location within your residence that is used exclusively for business purposes. Special tax considerations may apply. Also, the headquarters office of a large business that has several other office locations.
The preparatory work done before a business discussion with a client, customer or associate that is necessary to act effectively on the alternatives as they arise. Often used in conjunction with a new situation that is encountered, wherein having done a complete job of homework preparation, you can deal with any situation that arises.
A worker who has contracted with a company to perform the tasks in the worker’s home rather than on the premises of the company; one who works in the COTTAGE INDUSTRY.
In marketing, the specific technique that attracts customers and provides an opportunity for the sale. HOUR A period of time equal to one 24th of a day; 60 minutes.
An event or activity occurring in increments of one (1) hour. Also, a rate of pay on the basis of each hour worked; a classification of an employee who is paid an HOURLY WAGE.
An employee who is paid for each hour of service. As distinguished from an employee who is paid a SALARY.
An amount paid to an employee for each hour of service. As distinguished from a SALARY.
Any service performed by a part of a large company that otherwise would be purchased from another company, such as an advertising “agency” established within a company that handles advertising only for that company or an in-house travel agency.
In budgeting for capital expenditures, the RATE OF RETURN that must be exceeded for the investment to be viable. Above the hurdle rate, the investment should be made; but below the hurdle rate, the investment should not be made. See DISCOUNTED CASH FLOW; INTERNAL RATE OF RETURN.
All definitions were taken from www.small-business-dictionary.org.