Parity Product: Comparing to Other Brands What are brand metrics? As a business owner, you should be tracking a variety of metrics in order to gauge the health and performance of your brand. Brand metrics can be divided into two broad categories: awareness metrics and engagement metrics. Awareness metrics measure how well your target audience … Read more
The formula for calculating market share is relatively simple: (Total Sales of Company/Product) / (Total Sales of Industry) x 100.. What Is Market Share and How Is It Calculated? What is market share a medium business? There are a variety of ways to define “market share,” but at its most basic, market share is the … Read more
Quid pro quo is a Latin phrase that means “something for something.” In business, quid pro quo refers to the exchange of goods or services for other goods or services of equal value. For example, a company might offer a discount to customers who purchase a certain amount of product. In this case, the company … Read more
A cross-purchase agreement is an arrangement between business owners whereby each agrees to buy the others’ share of the business in the event of their death. This type of arrangement is often put in place in order to avoid the business being sold to a third party or liquidated in the event of the death … Read more
A consumable is a product that is used up or destroyed in the course of use. The term is most commonly used in reference to products that are consumed in the course of normal operation, such as printer ink or toner cartridges. In business, consumables are often defined as expendable items that are not covered … Read more
What Are Economies of Scale and How Are They Used? Which type of business can take advantages of economies of scale? The type of business that can take advantage of economies of scale is any business that produces a product or service in large quantities. The key to economies of scale is to produce a … Read more
RORE: An Overview. Is retained earnings the same as profit and loss account? The retained earnings of a company are the portion of profits that are not paid out as dividends, but are instead reinvested back into the business. The profit and loss account is a record of a company’s revenue and expenses over a … Read more
Human resources (HR) is the department within a business that is responsible for all aspects of employee management. This includes recruitment, training, benefits, and payroll. HR is also responsible for ensuring that all company policies and procedures are followed. The main responsibilities of HR are to attract, hire, and retain employees. They also work to … Read more
In business, statutory voting is a method of voting that allows shareholders to vote on corporate matters without having to physically attend a shareholders’ meeting. Statutory voting is typically used for routine matters, such as the election of directors, that do not require a shareholders’ meeting. To use statutory voting, shareholders must submit a written … Read more
According to the Business Dictionary, director rotation is “the practice of replacing corporate directors on a regular basis to ensure independence, fresh ideas, and effective governance.” This practice is often implemented as a way to avoid potential conflicts of interest and to ensure that the board of directors is composed of individuals with a wide … Read more
