Entrepreneurship by Neck, Neck, Murray

Entrepreneurship by Neck, Neck, Murray is the Entrepreneurship: The Practice and Mindset textbook authored by Heidi M. Neck, Babson College, Christopher P. Neck, Arizona State University, and Emma L. Murray and published by SAGE Publications, Inc. in 2018.

• Accounts payable. Money owed by a business to its suppliers.
• Accounts receivable. Money owed to the company for goods or services provided and billed to a customer.
• Accrued expenses. Costs incurred by the company for which no payment has been made.
• Active search. Method used by entrepreneurs in attempting to discover existing opportunities.
• Advertising Revenue Model. The amount of revenue gained through advertising products and services
• AEIOU framework. Acronym for Activities, Environments, Interactions, Objects, and Users -- a framework commonly used to categorize observations during fieldwork.
• Alertness. The ability some people have to identify opportunities.
• All-benefits. A type of value proposition that involves identifying and promoting all the benefits of a product or service to target customers, with little regard to the competition or any real insight into what the customer really wants or needs.
• Analytical strategies. Actions that involve taking time to think carefully about a problem by breaking it up into parts, or looking at it in a more general way in order to generate ideas about how certain products or services can be improved or made more innovative.
• Angel investor. A type of investor who uses his or her own money to provide funds to young startup private businesses run by entrepreneurs who are neither friends nor family.
• Backlog. Orders that have been received but not delivered to the customer.
• Balance sheet. A financial statement that shows what the company owes, what it owns, including the shareholder's stake, at a particular point in time.
• Behavior focused strategies. Methods to increase self-awareness and manage behaviors particularly when dealing with necessary but unpleasant tasks. These strategies include: self-observation, self-goal setting, self-reward, self-punishment, and self-cueing.
• Benefit corporation (or B-Corp). A form of organization certified by the nonprofit BLab that ensures strict standards of social and environmental performance, accountability, and transparency are met.
• Bonds. The connections with family, friends, and others who have a similar cultural background or ethnicity.
• Bootstrapping. The process of building or starting a business with very little funding or capital or virtually nothing at all.
• Bottoms Up (or Build Up Method). Estimating revenues and costs from the smallest unit of sales, such as a day.
• Brand strategy. A long-term plan to develop a successful brand; it involves how you plan to communicate your brand messages to your target customers.
• Branding. The process of creating a name, term, design, symbol, or any other feature that identifies a product or service and differentiates it from others.
• Bridges. The links that go further than simply sharing a sense of identity; for example, making connections with distant friends or colleagues who may have different backgrounds, cultures, and so on.
• Brokers. The people who organize transactions between buyers and sellers.
• Building approach. A concept that assumes that opportunities do not exist independent of entrepreneurs, but are instead a product of the mind.
• Bundled pricing. A type of pricing strategy whereby companies package a set of goods or services together and then sell them for a lower price than if they were to be sold separately
• Business model canvas (BMC). A type of visual plan that depicts the business on one page by filling in nine blocks of a business model.
• Business model. A conceptual framework that describes how a company creates, delivers, and extracts value.
• Business plan. A formal document that provides background and financial information about the company, outlines your goals for the business, and describes how you intend to reach them.
• C corporation (sometimes known as a "C-corp"). A separate legal and taxable entity created by the state government and owned by an unlimited number of shareholders.
• Capital stock. The original amount the owners paid into the company plus any additional paid-in capital to purchase stock in the company.
• Cash Conversion Cycle (CCC). The number of days a company's cash is tied up in the production and sales process.
• Cash flow statement. A financial report that details the inflows and outflows of cash for a company over a set period of time.
• Challenging. The process of building on past failures by braving new encounters.
• Cognitive comprehensiveness. A process in which team members examine critical issues with a wide lens and formulate strategies by considering diverse approaches, decision criteria, and courses of action.
• Compensation policy. The level of compensation and benefits for each type of position in the business.
• Competition-led pricing. A type of pricing strategy when prices are guided by other businesses selling the same or very similar products and services.
• Constructive thought patterns. Models to help us to form positive and productive ways of thinking that can benefit our performance.
• Convergent thinking. A thought process that allows us to narrow down the number of ideas generated through divergent thinking in an effort to identify which ones have the most potential.
• Convertible debt (also known as convertible bond or a convertible note). A short-term loan that can be turned into equity when future financing is issued.
• Copyright. A form of protection provided to the creators of original works in the areas of literature, drama, art, music, film and other intellectual areas.
• Corporate entrepreneurship (or intrapreneurship). A process of creating new products, ventures, processes, or renewal within large organizations.
• Corporate social responsibility (CSR). Describes the efforts taken by corporations to address the company's effects on environmental and social well-being in order to promote positive change.
• Cost of goods sold (COGS). The value of goods sold when a sale takes place.
• Cost-led pricing. A type of pricing strategy that involves calculating all the costs involved in manufacturing or delivering the product or service, plus all other expenses, and adding an expected profit or margin by predicting your sales volume to get the approximate price.
• Creation logic. A form of thinking that is used when the future is unpredictable.
• Creativity. The capacity to produce new ideas, insights, inventions, products, or artistic objects that are considered to be unique, useful, and of value to others.
• Credit policy. The process and timing in which obligations to pay for products and services sold will be billed and collected.
• Crowdfunding. The process of raising funding for a new venture from a large audience (the "crowd"), typically through the Internet.
• Crowdsourcing. The process of using the Internet to attract, aggregate, and manage ostensibly inexpensive or even free labor from enthusiastic customers and like-minded people.
• Current assets. Cash and other assets that can be converted into cash within a year.
• Current liabilities. Bills that must be paid within one year of the date of the balance sheet.
• Customer value proposition (CVP). A statement that describes exactly what products or services your business offers and sells to customers.
• Customer-led pricing. A type of pricing strategy when you ask customers how much they are willing to pay, and then offer it at that price.
• Customers. People who populate the segments of a market served by the offering.
• Data Revenue Model. A type of revenue model whereby companies generate revenue by selling high-quality, exclusive, valuable information to other parties.
• Decision makers. The type of customers (similar to economic buyers) who have even more authority to make purchasing decisions as they are positioned higher up in the hierarchy.
• Deliberate practice. A method of carrying out carefully focused efforts to improve current performance.
• Design thinking. A thinking process most commonly used by designers to solve complex problems and navigate uncertain environments.
• Development strategies. Actions that involve enhancing and modifying existing ideas in order to create better alternatives and new possibilities.
• Deviance. A situation where an entrepreneur defies legal and ethical boundaries leading to mismanagement of the venture.
• Direct cross-subsidies. Pricing a product or service above its market value to pay for the loss of giving away a product or service for free or below its market value.
• Divergent thinking. A thought process that allows us to expand our view of the world to generate as many ideas as possible without being trapped by traditional problem-solving methods or predetermined constraints.
• Diversified market. A variety of services that for two customer segments with different needs and problems, and which bear no relationship to each other.
• DOI. A measure of the average number of days it takes to sell the entire inventory of a company.
• DPO. A measure of the number of days it takes you to pay your bills.
• DSO. A measure of the number of days that it takes to collect on accounts receivable.
• Due diligence. A rigorous process which involves evaluating an investment opportunity prior to the contract being signed.
• Early-stage financing. A stage of financing which involves larger funds provided for companies that have a team in place and a product or service tested or piloted, but has little or no revenue.
• Earned-income activities. The sale of products or services that are used as a source of revenue generation.
• Economic buyers. The type of customers who have the ability to approve purchases, such as office managers, corporate VPs, or even teens with their own allowances.
• Effectuation. The idea that the future is unpredictable yet controllable.
• End users. The type of customers who will use your product. Their feedback will help you refine and tweak the product.
• Enterprising nonprofits. A form of social entrepreneurship where both the venture mission and the market impact are for social purposes.
• Entrepreneur. An individual or a group who creates something new -- a new idea, a new item or product, a new institution, a new market, a new set of possibilities.
• Entrepreneurial marketing. A set of processes adopted by entrepreneurs based on new and unconventional marketing practices in order to gain traction in competitive markets.
• Entrepreneurial mindset. The ability to quickly sense, take action, and get organized under uncertain conditions.
• Entrepreneurial self-efficacy (ESE). The belief that entrepreneurs have in their own ability to begin new ventures.
• Entrepreneurs inside. The types of entrepreneurs who think and act entrepreneurially within organizations.
• Entrepreneurship. A discipline that seeks to understand how opportunities are discovered, created, and exploited, by whom, and with what consequences.
• Equity crowdfunding. A form of crowdfunding that gives investors the opportunity to become shareholders in a company.
• Equity financing. The sale of shares of stock in exchange for cash.
• Established business owners. The people who are still active in business for over three and a half years.
• Expanding. The broadening or the acquisition of new skills that enable people to generate ideas and share knowledge.
• Experiment. A method used to prove or disprove the validity of an idea or hypothesis.
• Exploratory experimentation. A method whereby market tests are conducted to get early feedback and acquire important learning and information.
• Exposing. The skills required to open ourselves to diverse and fluctuating circumstances and events.
• Fair pricing. The degree to which both businesses and customers believe that the pricing is reasonable.
• Family enterprise. A business that is owned and managed by multiple family members, typically for more than one generation.
• Feasibility study. A planning tool that allows entrepreneurs to test the possibilities of an initial idea to see if it is worth pursuing.
• Financial viability. Defines the revenue and cost structures a business needs to meet its operating expenses and financial obligations.
• Finding approach. A concept that assumes that opportunities exist independent of entrepreneurs and are waiting to be found.
• Fixed mindset. The assumption held by people who perceive their talents and abilities as set traits.
• Founding team. A group of people with complementary skills and a shared sense of commitment coming together in founding an enterprise to build and grow the company.
• Franchise. A type of license purchased by a franchisee from an existing business, to allow them to trade under the name of that business.
• Franchising Revenue Model. A type of revenue model whereby franchises are sold by an existing business to allow another party to trade under the name of that business.
• Freemium Revenue Model. A type of revenue model whereby free (mainly web-based) basic services are mixed with premium or upgraded services.
• General partnership. Two or more people who have made a decision to co-manage and share in the profits and losses of a business.
• Goodwill. The price paid for an asset in excess of its book value. You will see this on the balance sheet when the company has made one or more large acquisitions.
• Grit. The quality that enables people to work hard and sustain interest in their long-term goals.
• Groupthink. A phenomenon where people share too similar a mindset, which inhibits their ability to spot gaps or errors.
• Growth mindset. The assumption held by people who believe that their abilities can be developed through dedication, effort, and hard work.
• Guerilla marketing. A low-budget strategy that focuses on personally interacting with a target group by promoting their products and services be heard and seen in very noisy marketplaces.
• Habit. A sometimes unconscious pattern of behavior that is carried out often and regularly.
• Habit-breaking strategies. Actions that involve techniques that help to break our minds out of mental fixedness in order to bring about creative insights.
• Heterogeneous team. A group of people with a mix of knowledge, skills, and experience.
• Homogenous team. A group of people with the same or similar characteristics such as age, gender, ethnicity, experience, and educational background.
• Hybrid model of social entrepreneurship. An organization with a purpose that equally emphasizes both economic and social goals.
• Hypothesis. An assumption that is tested through research and experimentation.
• Ideation. A creative process that involves generating and developing new ideas based on observations gained during the inspiration process to address latent needs.
• Imagination-based strategies. Actions that involve suspending disbelief and dropping constraints in order to create unrealistic states, or fantasies.
• Implementation. A process involving the testing of assumptions of new ideas to continuously shape them into viable opportunities
• Impression management. The concept of how people pay conscious attention to the way they are perceived and the steps they take to be perceived by others in a certain way.
• Improvisation. The art of spontaneously creating something without preparation
• Inattention. A condition whereby an entrepreneur becomes sidetracked from the core business.
• Income statement (or profit and loss statement). A financial report that measures the financial performance of your business on a monthly or annual basis.
• Income statement. A financial report that measures the financial performance of your business on a monthly or annual basis.
• Influencers (or opinion leaders). The type of customers with a large following who have the power to influence our purchase decisions.
• Infrastructure. The resources (people, technology, products, suppliers, partners, facilities, cash, etc.) that an entrepreneur must have in order to deliver the CVP.
• Insight. An interpretation of an observation or a sudden realization that provides us with a new understanding of a human behavior or attitude that results in some sort of action.
• Inspiration. The problem or opportunity that stimulates the quest for a solution.
• Intangible assets. The value of patents, software programs, copyrights, trademarks, franchises, brand names, or assets that cannot be physically touched.
• Intellectual property (IP). Intangible personal property created by human intelligence, such as ideas, inventions, slogans, logos, and processes.
• Intelligent failures. A way of describing failures that provide valuable new knowledge that can help a startup innovate and stride ahead of its competition.
• Interest expense. The extent of the company's debt burden as well as representing any interest owed on borrowed money.
• Intermediation Revenue Model. The different methods by which third parties such as brokers (or "middlemen") can generate money.
• Interpersonal strategies. Actions that involve group members stimulating each other to come up with new or improved ideas.
• Introductory offer. A pricing method to encourage people to try a new product by offering it for free or at a heavily discounted price.
• Inventory policy. The level of various types of inventory (e.g., raw materials, work-in-process, finished goods) maintained and the speed with which inventory moves from the business to the customer.
• Investor model. A context for crowdfunding that gives backers an equity stake in the business in return for their funding.
• Lack of ability. The lack of skillset to get the job done.
• Latent needs. Needs we don't know we have.
• Lending model. A context for crowdfunding where funds are offered as loans with the expectation that the money will be repaid.
• Liabilities. Economic obligations of the company, such as money owed to lenders, suppliers, and employees.
• Licensing Revenue Model. A way of earning revenue by giving permission to other parties to use protected intellectual property (patents, copyrights, trademarks) in exchange for fees.
• Limited liability company (LLC). A form of business structure that combines the taxation advantages of a partnership with the limited liability benefits of corporation without being subject to the eligibility requirements of an S corp.
• Linkages. The connections to people or groups regardless of their position in an organization, society, or other community.
• Long-term debt. Obligation for debt that is due to be repaid in more than 12 months.
• Long-term investments. Assets that are more than one year old and are carried on the balance sheet at cost or book value with no appreciation.
• Loss leader. A pricing method whereby a business offers a product or service at a lower price in an attempt to attract more customers
• Marketing mix. A tool that helps to define the brand and how it differentiates from the competition.
• Marketing. A method of putting the right product in the right place, at the right price, at the right time.
• Mass market. A large group of customers with very similar needs and problems.
• Microloan. A very small, short-term loan often associated with entrepreneurs in developing countries.
• Multiparty business. A type of free model that involves giving one party product or service free, but charging the other party(s).
• Multisided markets. Platforms that serve two or more customer segments that are mutually independent of each other.
• Nascent entrepreneurs. Individuals who have set up a business they will own or co-own that is less than three months old and has not yet generated wages or salaries for the owners.
• Natural reward strategies. Types of compensation designed to make aspects of a task or activity more enjoyable by building in certain features, or by reshaping perceptions to focus on the most positive aspects of the task and the value it holds.
• Necessity-based entrepreneurs. Individuals who are pushed into starting a business because of circumstance such as redundancy, threat of job loss, and unemployment.
• Needs. Human emotions or desires that are uncovered through the design process.
• Net income. Indicates what is left after all costs, expenses, and taxes have been paid.
• New business owners. Individuals who are former nascent entrepreneurs and have been actively involved in a business for over three months but less than three and a half years.
• Niche market. A small market segment comprising customers with specific needs and requirements.
• Not for profit. A tax status granted to companies performing functions deemed by Congress to be socially desirable that exempts them from income tax and, in some cases, allows them to receive tax deductible donations.
• Observation. The action of closely monitoring the behavior and activities of users/potential customers in their own environment.
• Offering. What you are offering to a particular customer segment, the value generated for those customers, and how you will reach and communicate with them.
• Operating Expenses. The costs of running your business, including your rent, utilities, administration, marketing/advertising, employee salaries, and so on.
• Operating expenses. The expenditures that the company makes to generate income.
• Operating profit. The amount left over from revenue once all costs and expenses are subtracted
• Opportunity. An apparent way of generating profit through unique, novel, or desirable products or services that have not been previously exploited.
• Opportunity-based entrepreneurs. Individuals who make a decision to start their own businesses based on their ability to create or exploit an opportunity, and whose main driver for getting involved in the venture is being independent or increasing their income, rather than merely maintaining their income.
• Other current liabilities. Short-term liabilities that do not fall into a specific category, such as sales tax, income tax, and so forth.
• Packaging. A process that explores every single visual element of the external appearance of an offering through the eyes of your customer.
• Passion. An intense positive emotion, which is usually related to entrepreneurs who are engaged in meaningful ventures, or tasks and activities, and which has the effect of motivating and stimulating entrepreneurs to overcome obstacles and remain focused on their goals.
• Patent. A grant of exclusive property rights on inventions through the U.S. And other governments.
• Patronage model. A context for crowdfunding that describes the financial support given by backers without any expectation of a direct return for their donations.
• Pattern recognition. The process of identifying links or connections between apparently unrelated things or events.
• Payables policy. The process and timing in which obligations to pay for goods and services received by the business will be paid.
• People. The people who are responsible for every aspect of sales and marketing.
• Pitch. The act of clearly presenting and describing a product or service to others.
• Pivot. A quick reaction and sometimes a change in direction.
• Place. The location where the product is actually distributed to your target market; for example, trade fairs, retail stores, catalogs, mail order, online, and so forth.
• Plan. A written description of the future you envision for your business, including what you plan to do and how you plan to do it.
• Planning. A description of the future one envisions for a business, including what one plans to do and how one plans to do it.
• Points-of-difference. A type of approach that focuses on the product or service relative to the competition and how the offering is different from others on the market.
• Positioning. A marketing strategy that focuses on how your customers think or talk about product and a company relative to competitors.
• Potential entrepreneurs. Individuals who believe they have the capacity and know-how to start a business without being burdened by the fear of failure.
• Predictive logic. A form of thinking that sees entrepreneurship as a linear process in which steps are followed and outcomes are -- ideally -- predictable.
• Prepaid expenses. The payments the company has already made for services not yet received.
• Price. The amount that the customer is expected to pay for the product, its perceived value, and the degree to which the price can be raised or lowered depending on market demand and how competitors price rival products.
• Pricing policy. How pricing will be determined for your products and services.
• Primary research. Refers to data gathered by yourself through sources such as focus groups, interviews, and surveys
• Prior knowledge. The preexisting information gained from a combination of life and work experience.
• Process Inadequacy. The wrong (or lack of) processes set up in the organization causing communication breakdown.
• Product. Anything tangible or intangible (such as a service) offered by the company that includes the features, the brand, how it meets customer needs, how and where it will be used, and how it stands out from competitors.
• Product-market fit. An offering that meets the needs of customers.
• Professional Revenue Model. Professional services on a time and materials contract.
• Promotion. The activities that involve all the ways in which companies tell their customers about their offering.
• Psychological pricing. A pricing method intended to encourage customers to buy on the basis of their belief that the product or service is cheaper than it really is.
• Purchasing policy. The price and timing of raw materials and other goods and services necessary to build, sell, and support products.
• Recommenders. The type of customers who have the power to make or break a sale.
• Relationship-seeking strategies. Plans of action that involve consciously making links between concepts or ideas that are not normally associated with each other.
• Resonating-focus. A type of CVP that describes why people will really like your product and focuses on the customers and what they really need and value.
• Retained earnings. The cumulative amount of profit retained by the company and not paid out in the form of dividends to owners.
• Revenue Model. A key component of the business model and identifies how the company will earn income and make profits.
• Revenue. The income gained from sales of goods or services.
• Reward-based crowdfunding. A context for crowdfunding which involves rewarding backers for supporting a project.
• Royalties. A share of the proceeds of a business from one party to another.
• S corporation (sometimes known as an "S-Corp"). A certain type of corporation which is eligible for, and elects special taxation status.
• Saboteurs. The type of customers who can veto or slow down a purchasing decision.
• SAM (Serviceable Available Market). The section of the TAM that your product or service intends to target.
• Search strategies. Actions that involve using memory to retrieve information to make links or connections based on past experience that are relevant to the current problem using stimuli.
• Secondary research. Refers to data gathered from external sources such as industry publications, websites, government agencies, and so on.
• Securing. The capacity to focus on and sustain new ideas.
• Seed-stage financing. A stage of financing in which small or modest amounts of capital are provided to entrepreneurs to prove a concept.
• Segmented market. A marketing strategy that involves breaking customer segments into groups according to their different needs and problems.
• Self-cueing. The process of prompting that acts as a reminder of desired goals, and keeps your attention on what you are trying to achieve.
• Self-goal setting. The process of setting individual goals for ourselves.
• Self-leadership. A process whereby people can influence and control their own behavior, actions, and thinking to achieve the self-direction and self-motivation necessary to build their entrepreneurial business ventures.
• Self-observation. A process that raises our awareness of how, when, and why we behave the way we do in certain circumstances.
• Self-punishment (or self-correcting feedback). A process that allows us to examine our own behaviors in a constructive way in order to reshape these behaviors.
• Self-reward. A process that involves compensating ourselves when we achieve our goals. These rewards can be tangible or intangible.
• Self-selected stakeholders. The people who "self-select" into a venture in order to connect entrepreneurs with resources in an effort to steer the venture in the right direction.
• Serial Entrepreneurs (or habitual entrepreneurs). The type of entrepreneurs who start several businesses, whether simultaneously or one after the other.
• Shareholder equity. The money that has been invested in the business plus the cumulative net profits and losses the company has generated.
• Short-term debt. The portion of long-term debt that must be paid within a year.
• Skill of creativity. Requires a general openness to the world and relates to unleashing our creative ability to create and find opportunities and solve problems.
• Skill of empathy. Developing the ability to understand the emotion, circumstances, intentions, thoughts, and needs of others.
• Skill of experimentation. Best described as acting in order to learn -- trying something, learning from the attempt and building that learning into the next iteration.
• Skill of play. Frees the imagination, opens up our minds to a wealth of opportunities and possibilities, and helps us to be more innovative as entrepreneurs.
• Skill of reflection. Helps make sense of all of the other actions required of play, empathy, creativity and experimentation.
• Skimming. A form of high pricing method, generally used for new products or service that face very little, or even no competition.
• Social capital. Personal social networks populated with people who willingly cooperate, exchange information, and build trusting relationships with each other.
• Social consequence entrepreneurship. A for-profit venture whose primary market impact is social.
• Social entrepreneurship. The process of sourcing innovative solutions.
• Social purpose ventures. Businesses created by social entrepreneurs to resolve a social problem and make a profit.
• Sole proprietorship. A person who owns a business and has full exposure to its liabilities.
• SOM (Share of market). The portion of SAM that your company is realistically likely to reach.
• Stakeholders. The people or groups affected by or involved with the achievements of the social enterprise's objectives.
• Startup financing. A stage of financing in which the money is provided to entrepreneurs to enable them to implement the idea by funding product research and development.
• Startup. A temporary organization in search of a scalable business model.
• Storyboarding. An easy form of prototyping that provides a high-level view of thoughts and ideas arranged in sequence in the form of drawings, sketches, or illustrations.
• Subscription Revenue Model. A type of model that involves charging customers to gain continuous access to a product or service.
• Sweat equity. The increase in value or ownership interest created as a result of hard work.
• TAM (Total Available Market). The total market demand for a product or service.
• Target-return pricing. A pricing method whereby the price is based on the amount of investment you have put into your business.
• Theory of Effectuation. The idea that the future is unpredictable yet controllable and entrepreneurs can "effect" the future.
• Total Entrepreneurial Activity (TEA). The percentage of the population of each country between the ages of 18 and 64, who are either a nascent entrepreneur or owner- manager of a new business.
• Trade secret. Confidential information that provides companies with a competitive edge and is not in the public domain, such as formulas, patterns, compilations, programs, devices, methods, techniques, or processes
• Trademark. Any word, name, symbol, or device used in business to identify and promote a product. Its counterpart for service industries is the service mark.
• TRIM framework (Team, Resources, Idea, Market framework). A planning tool that identifies the types of people needed for the team, the resources available and needed, the details of the idea, and the potential market for the product or service.
• Uncertainty. The lack of clarity about future events that can cause entrepreneurs to take unreasonable actions.
• Unit Sales Revenue Model. The amount of revenue generated by the number of items (units) sold by a company.
• Use Case. A methodology used in the software industry to illustrate how a user will interact with a specific piece of software.
• Utility and Usage Revenue Model. A pay-as-you-go model that charges customers fees on the basis of how often goods or services are used.
• Value-based pricing. A pricing method that involves pricing a product based on how it benefits the customer.
• Venture capitalist (VC). A type of professional investor who generally invests in early-stage and emerging companies because of perceived long-term growth potential.
• Venture philanthropy funding. A combination of financial assistance such as grants with a high level of engagement by the funder.
• Vesting. The concept of imposing equity forfeitures on co-founders over a certain period of time on a piecemeal basis should they not stay with the company.
• Wicked problems. Large, complex social problems where there is no clear solution, where there is limited, confusing, or contradictory information available, and where a whole range of people with conflicting values engage in debate.
• Work integration social enterprise (WISE). A social enterprise whose mission is to integrate people who have been socially excluded into work and society through productive activity.