Journey Website Glossary

The ability of a business to rapidly adapt to market changes and environmental factors while maintaining flexibility and speed.

Artificial Intelligence (AI) is the capacity of a computer to perform operations like learning and decision making.

Advanced tools designed to support CEOs with decision-making, leveraging artificial intelligence for enhanced business insights.

Commercial transactions between businesses, such as between a manufacturer and a wholesaler or a wholesaler and a retailer.

Transactions conducted directly between a company and consumers who are the end-users of its products or services.

The process of comparing a company’s performance metrics to industry bests or best practices from other companies.

The value derived from consumer perception of the brand name, rather than the product or service itself.

Technologies, applications, and practices for the collection, integration, analysis, and presentation of business information to support better decision-making.

A company's plan for generating revenue and making a profit from operations.

A model where consulting services are provided on-demand, leveraging technology and expert networks to deliver strategic advice and solutions without the need for long-term engagements.

The Chief Executive Officer, responsible for the overall management and decision-making in a company.

A feature providing key performance indicators (KPIs) and other critical metrics to help CEOs manage their businesses effectively.

The rate at which customers or subscribers stop doing business with a company over a given period. It is a critical metric for businesses to understand customer retention and satisfaction. High churn rates can indicate problems with the product, service, or customer experience and can negatively impact long-term business growth.

The rivalry between businesses operating in the same industry aiming to attract the same customer base. It involves competing for market share through various strategies such as pricing, quality, innovation, and marketing efforts. Understanding competition is essential for developing strategies that differentiate a business and drive growth.

Professional advice and services to help businesses grow and succeed.

Strategies and practices aimed at ensuring customers achieve their desired outcomes while using a company's products or services.

The network of stakeholders, systems, and technologies that interact to create and support digital business operations and initiatives.

The integration of digital technology into all areas of business, fundamentally changing how operations are conducted and value is delivered to customers.

A strategy of expanding a company's operations by adding new markets, products, services, or stages of production to spread risk and opportunities.

The increase in Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) over a specific period. EBITDA is a measure of a company's overall financial performance and is used as an alternative to net income in some circumstances. EBITDA growth indicates how well a company is increasing its profitability from core operations before accounting for non-operating expenses and non-cash items.

Environmental, Social, and Governance criteria used to measure the sustainability and ethical impact of a company.

A unit that indicates the workload of an employed person in a way that makes workloads comparable across various contexts. One FTE is equivalent to one full-time worker, typically defined as someone working 40 hours per week. This metric is used to standardize the number of full-time and part-time employees based on their working hours, providing a more accurate representation of the total labor force and resource allocation within a company.

An annual list compiled and published by Fortune magazine that ranks the top 500 U.S. corporations by total revenue for their respective fiscal years. The list includes public and privately held companies for which revenues are publicly available.

Initial Public Offering - The process by which a private company offers its shares to the public for the first time.

A key performance indicator can be defined as a quantifiable measure used to evaluate the success of an organization, employee, etc. in meeting objectives for performance. KPIs are what will allow you to clearly guide your support team’s performance with black and white (attainable) goals, so that if they are not meeting your expectations, you are able to focus objectively on what they need to improve and what you can do to help them improve.

A methodology for developing businesses and products, which aims to shorten product development cycles by adopting a combination of business-hypothesis-driven experimentation, iterative product releases, and validated learning.

Utilizing resources, such as capital or human skills, to maximize the potential return on investment or to achieve a significant strategic advantage.

Mergers and Acquisitions - Strategies involving the consolidation of companies or assets to stimulate growth.

A type of artificial intelligence that allows software applications to become more accurate at predicting outcomes without being explicitly programmed to do so.

The environment in which buyers and sellers interact to exchange goods and services for money. It encompasses the demand for products, competition, customer segments, and overall industry dynamics. Understanding the market is crucial for businesses to identify opportunities, strategize effectively, and achieve growth.

A metric used to measure customer loyalty and satisfaction by asking customers how likely they are to recommend a company's product or service to others.

A popular goal-setting framework that helps organizations define their objectives and the measurable results needed to achieve them.

The use of data, statistical algorithms, and machine learning techniques to identify the likelihood of future outcomes based on historical data.

The ability of a business to generate income and sustain financial health over time. It is a measure of efficiency and financial success, indicating how well a company can convert revenues into profit.

A detailed analysis based on a quarterly time frame.

Business models designed to generate consistent, ongoing income through repeat purchases or subscriptions. These models ensure a steady stream of revenue, improve customer retention, and provide predictable financial growth. Examples include subscription services, memberships, and maintenance contracts.

Return on Investment - A measure used to evaluate the efficiency or profitability of an investment.

A profitability ratio that indicates how efficiently a company uses its assets to generate profit. It is calculated by dividing net income by total assets.

The percentage of customers or employees who remain with a company over a specific period, indicating loyalty and satisfaction.

A software distribution model in which applications are hosted by a service provider and made available to customers over the internet. SaaS solutions are typically subscription-based and can be accessed from any device with an internet connection.

The capability of a business system or model to handle growth or increased demand.

Businesses with a relatively small number of employees and turnover, typically characterized by their nimbleness and flexibility. SMBs face unique challenges and opportunities compared to larger enterprises and are often pivotal in driving economic growth.

Ensuring all aspects of the business, from operations to marketing, are aligned with the company's strategic goals and objectives.

The interaction of multiple elements in a business to produce a combined effect greater than the sum of their separate effects.

Strategic advisory services provided by the most prestigious firms in the industry. These firms are renowned for their expertise, high-impact strategies, and ability to drive significant organizational transformations.

The overall experience of a person using a product, especially in terms of how easy or pleasing it is to use. This is crucial for designing products and services that meet the needs and expectations of customers.

The space where interactions between humans and machines occur. The goal of a user interface is to make the user's experience as intuitive and efficient as possible, enabling users to interact with the system effectively. This includes the design of screens, buttons, icons, and other visual elements that a user interacts with in digital products.

The unique value a company promises to deliver to its customers, distinguishing it from competitors. This concept is critical for defining the benefits and differentiation that a business offers.

The sequence of processes through which a piece of work passes from initiation to completion. Optimizing workflows is essential for improving efficiency and productivity.

A term used to describe an in-depth and detailed analysis of the competitive landscape. It involves scrutinizing competitors beyond surface-level metrics to uncover deeper insights into their strategies, strengths, and weaknesses.