A financial statement relating to the value and type of assets your business owns and controls. It shows how all your business’s finances (including investments, debts, and sales) are connected at a particular moment in time – typically annually.
A technique of interviewing which seeks to identify a candidate’s likely future performance. Questions are asked that elicit information on past performance, rather than on hypothetical or predictive outcomes.
A pricing strategy which encourages customers to purchase more products or services than they would otherwise consider. This involves providing a discount when a set number of items are purchased at the same time.
A funding approach where equity investors get ownership or equity in the business and get a share of the earnings of the business every year. This is calculated in proportion to the amount they have invested.
A comparison of how two or more financial measures have moved relative to one another. This comparison is generally more useful than individual numbers when assessing financial performance. Different ratios are used to analyze different elements of your business. For further detail of these ratios, refer to the Financial Terms Glossary in the finance courses.
Criteria that come from any stage of the Customer Buying Process to influence a customer’s decision-making process. This includes factors such as quality, price, and convenience of delivery.