Business encyclopedia

Learn everything there is to know about running a business

Filtered results for “P”

We found 13 results starting with the letter “P


A partnership is a form of business where two or more people share ownership.

Product Life Cycle

Product life cycle is the progression of an item through the four stages of its time on the market.

Product Positioning

Product positioning is a form of marketing that presents the benefits of your product to a particular target audience.


Patents are a right granted to an inventor that allows them to exclude all others from making, using, or selling their invention for 20 years.

Purchase Order

A purchase order is an official document issued by a buyer committing to pay the seller for the sale of specific products or services to be delivered in the future.

Public Relations (PR)

Public relations is the process of managing communications between a business and its public or constituents.

Private Label

A private label product is manufactured by a contract or third-party manufacturer and sold under a retailer’s brand name.

Press Release

A press release is a written document prepared for the media – also called the press - that announces something newsworthy.

Profit Margin

Profit margin indicates the profitability of a product, service, or business. It’s expressed as a percentage; the higher the number, the more profitable the business.


Prospecting is the first step in the sales process, which consists of identifying potential customers, aka prospects.

Petty Cash

Petty cash is a small amount of actual cash that a company has on hand to purchase items that cost so little that cutting a check doesn’t make sense or isn’t realistic.

Program Evaluation Review Technique (PERT)

The Program Evaluation Review Technique, or PERT, is a visual tool used in project planning to help identify start and end dates, as well as interim required tasks and timelines.


The fee collected to ship a parcel or letter by mail, it may be represented by a stamp or a printed (barcoded) label.