Entrepreneurship and Innovation Glossary 1st Edition

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General

Business Consulting

Business Consulting

The process of providing advice or opinion based on experience in exchange for a specific fee or compensation, whether this consultation is provided by an individual consultant or a consulting firm. Consulting may encompass a range of activities, including problem diagnosis, data collection, strategy development, and assistance in implementation.

General

Business Venture

Business Venture

A new business or project formed at some risk with the expectation of making a profit. High-risk businesses can take numerous forms, including the formation of new companies, the creation of new products and services, the expansion of new markets, and investment in existing businesses. Startups, for example, are projects with a high degree of uncertainty but very huge financial returns.

General

Carbon Footprint

Carbon Footprint

A measure of the impact that human activities have on the climate in terms of the total amount of greenhouse gases produced.

General

Cash Runway

Cash Runway

The remaining amount of time for the business before cash runs out, given the business's burn rate

General