Tuesday, June 18
An Economy of Scale is a microeconomics term that describes the cost advantages that large companies have over smaller ones. By producing a higher quantity of product, companies are able to spread out their fixed costs over more units, and they can reduce variable costs by purchasing needed inputs in bulk.
Tuesday, June 11
At-will employment is a doctrine of American law that describes both an employer's and employee's ability to terminate an employment relationship at any time for any or no reason.
Tuesday, May 28
Entrepreneurs understand that there are always business opportunities around them. In fact, there are usually more opportunities than an entrepreneur can handle.
Tuesday, May 21
BHAG is an acronym for Big Hairy Audacious Goal, a term proposed by Jim Collins and Jerry Porras in their 1994 book, "Built to Last: Successful Habits of Visionary Companies". Goals are a key part of the corporate structure.