What is Interest on Debt? Interests refer to the amount that a lender charges a borrower for borrowing money or using the lenders assets. It is the amount a borrower must pay to a lender for taking a loan or borrowing an asset. Interest charged by lenders is on an annual basis and is therefore expressed as the annual percentage rate (APR). In stock ...

What is a Business Tax Credit?  Business tax credits refer to credits available to individuals and business owners when they file their annual tax returns. Businesses use credits to reduce or offset their tax liability. Generally, tax credits reduce the taxes an individual or business owes to the federal government. How Does a Business Tax Credit Wo...

What is a Continuous Improvement Plan? A continuous (continual) improvement plan is a string of processes and procedures that a company puts in place to improve its services and products. This plan entails an on-going review of a company's products and services with a bid to take actions that will improve them. This plan also uses all quality method...

What is Satisficing? Satisficing is a strategy used in decision making that seeks a result that is good enough to tackle a situation but is understood to not be the optimal solution.  The strategy narrows down the scope of available options that have the possibility of achieving the desired outcomes. It then sets aside those options that will requir...

What are the Best Tools for Startup Formation? Startups are unique types of business. They are often mentioned in the same vein as typical small businesses that provide any number of product or service offerings. In reality, a startup is more akin to project management than starting a small business. The reason is because of the startup’s objectives...

What is a Regressive Tax? A regressive tax refers to a uniform tax that takes a larger percentage of income from the people who earn less than from the ones who earn more or have a higher income. A regressive tax works in contrast to a progressive tax that focuses on the high-income category for a bigger percentage. How Does a Regressive Tax Work? A...

What is a Protected Fund? A protected fund refers to a type of mutual fund that guarantees investors a portion of their initial investment. The protected fund allows the shareholders to make a return from their investment in the stock market while guaranteeing their money. The protected initial investment and some return on capital are given back to...

What is the Department of Transportation? The Department of Transportation (DOT) is a cabinet department of the federal government of the United States dealing with transportation.  The department is headed by the Secretary of Transportation, who works to ensure safe and secure travel and increasing the mobility of people.  It also aims at contribut...

What is the Nominal Group Technique? Nominal Group Technique is a decision-making rule or model that seeks to make certain all members of a group participate. It is primarily used to structure group meetings tasked with problem solving or idea generation.  There are four steps in this model: Each member of the group independently records their ideas...

What is the Government Regulation of Insurance? The U.S. insurance industry is primarily regulated at the state level. Since 1871 there has been a National Association of Insurance Commissioners that brings together these state regulators to exchange information and strategies. The state insurance regulators typically attempt to accomplish two thing...