![]() KPIs are usually numbers that tell you how effective your business is in a specific area. KPI is an acronym that stands for Key Performance Indicators. SWOT is an acronym that refers to a form of analysis that examines your: The process by which you measure various aspects of your systems (e.g., speed, efficiency, cost, amount of product). Net refers to the amount or quantity AFTER deductions or expenses. ![]() Gross refers to the total amount or quantity BEFORE deductions or expenses. Variable costs are expenses that fluctuate based on your volume of business. ![]() Expenses such as utilities, rent, and employee salaries are considered fixed costs. 9) Fixed CostsĬosts you must pay whether your business is doing well or not. 8) CapitalĬapital often refers to money, but it can also be used to refer to everything your business owns and uses to function (e.g., equipment, vehicles, buildings, land, etc.). 7) Accounts ReceivableĪ record of the money that other people and businesses owe to you. 6) Accounts PayableĪ record of the money you owe to the people and businesses that helped you create your product or service. Profit from a product or service after all expenses have been covered. 4) DeliverableĪ product or service developed by a business. Provide an incentive (a motivation) for using a product or service. Return on investment (ROI) refers to all the benefits - monetary or otherwise - received from an investment. To help you get familiar with this specialized language, the management experts at Sling have created a list of the 70 business terms every manager needs to know.
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