What is the Hedgehog Concept? The Hedgehog Concept calls on companies to identify their core value proposition (or the primary thing that they do well) and focus on that. The concept says that scattering ones interests and objective causes a lack of focus, competency, and efficiency. Thus, it results in getting little done. Focusing on the thing tha...

What are Multi-party Negotiations?  A multi-party negotiation consists of a group of three or more individuals, each representing his or her own interests, who attempt to resolve perceived differences of interest or work together to achieve a collective objective.  Types of multi-party negotiations involve:  teams,  coalitions,  constituencies,  age...

What is the United Nations Standard Product and Services Classification (UNSPSC)? This United Nations Standard Product and Services Classification (UNSPSC) is a classification scheme that covers all types of goods and services that are used in the ecommerce industry. It is a framework that gives a hierarchical presentation of goods and services.  UN...

What is a Rating Agency? A rating agency is a private organization that evaluates the financial strength or weakness of companies and government establishments. A rating agency provides an assessment of the creditworthiness of debt securities in private and public companies, that is the agency assess the credit risk of debt securities of companies. ...

Does the Constitution Allow for the State Court System? The US Constitution, pursuant to the 10th Amendment, provides for both federal and state governments. While the US Constitution provides the authority for federal courts, a state's constitution provides the authority for state courts. Generally, state constitutions follow a model that is very s...

What is Corner a Market? The term, to corner a market simply means to acquire a satisfiable number of shares of a specific type of security, like those of a company in a niche industry. It can also refer to the ability to hold a security or a substantial portion of a significant market to the extent that one can manipulate the market of that commodi...

What are some critical aspects to remember about entrepreneurship? All Talk Everyone likes to talk (or brag) about his or her great idea. 99% of these people will never do anything about it. Entrepreneurship is about doing let everyone else do the talking. Entrepreneurs Are Generalists Entrepreneurship is not about doing a service or making widget. ...

What is a Security Market Line? The security market line (SML) is a chart that symbolizes the visual or graphical representation of the expected rate of return and the expected risks of different securities traded in the market. SML serves as a visual representation of the capital asset pricing model (CAPM) that displays the systematic or market ris...

What is a Claims Adjuster? An adjuster is a claim agent who is responsible for investigating and evaluating an insurance claim to determine the extent of the insurance company's liability. During the investigation process, the adjuster may interview the claimant and witnesses, inspect the damaged property or may review hospital records and police re...

What is the Continuity Of Business Enterprise Doctrine? The continuity of business enterprise doctrine is a taxation principle in which an acquiring firm must continue the acquired firm's business before the acquisition can qualify as a tax-deferred reorganization. In cases where the acquired firm's business cannot be continued, a significant percen...