Market Value Approach
An approach used in business valuation which determines value based upon previous sales of similar businesses.
The process of planning and executing the development, pricing, promotion, and distribution of an organization's goods and/or services.
A claim given by the borrower to the lender against the borrower's property in return for a loan.
New venture plan (Business Plan)
A written description of a new idea that projects marketing, operational, and financial aspects of a proposed business.
The process of planning and executing the development, pricing, promotion, and distribution of an organization's goods or services.
Specific statements of ends, the achievement of which are contemplated within a specific time period. used in the management control process, and provide a quantitative and time framework to the organization's goals. Intended to be accomplished by a specific date and are stated in specific terms, preferably in such a way that there is some measurable basis for determining the extent to which they have been achieved.)
Occupational Safety and Health Act (OSHA)
Federal legislation that mandates that employers provide a workplace that is free from hazards likely to cause death or serious physical harm.
Open End Credit (Revolving account)
A line of credit that may be used over and over again up to a certain borrowing limit.
A comparison of profit and each item of expense in the income statement expressed as a percentage of sales income; these can be compared to the industry standard in regards to measuring the possible growth of the business.growth of the business.
A person who starts a business with both sophisticated managerial skills and technical knowledge.
To arrange or constitute in interdependent parts, each having a specific function or relation with respect to the whole; the arrangement and distribution of work among members of an organization.
The business governance board which makes most decisions for a family funeral home, including the decisions made during the daily operation.