U.S. productivity

American workers are the most productive in the world, according to recent UN statistics. The U.S. economy produced the most wealth per capita per year followed by Ireland, Luxembourg, Belgium and France. Factors explaining the high U.S. productivity rate include longer work hours, higher information and communication levels, corporate structure, and fluidity of competition and foreign trade.
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Mad Men

The television series "Mad Men" first aired on AMC in 2007. The show centers on the staff of the Sterling Cooper advertising agency on New York's Madison Avenue during the early 1960s. The main character is Don Draper, the firm's creative director. The storyline draws on the era's business setting and depicts the changing social fabric of the 1960s.
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Adam Smith

Adam Smith is considered the "father of economics". The Scottish philosopher and economist lived during the 18th century. His principle economic premise held that if government left the marketplace to its own devices, the free market would guarantee a result beneficial to the populace. Smith published one of the most influential books of all time, The Wealth of Nations, in 1776.
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Four business stages

Most businesses will generally experience four stages: start-up, growth, maturity, and decline. Start-ups are businesses that have recently come into existence. Businesses in the growth phase can often function using their own limited resources. Mature firms have achieved a certain amount of name recognition. Businesses in the declining phase tend to experience a shrinking market.
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Forecast vs. prediction

The terms forecast and prediction are sometimes used interchangeably. Forecast implies probability. A forecast is made by observing the trend of similar events and is often based on historical data. Prediction implies hypothesis. A prediction is derived from a theory which states that if a certain set of conditions is satisfied, a particular set of events will occur.
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Alternative financial services

More than one in four American households use check chashers, payday lenders or pawnbrokers rather than a bank, according to recent FDIC report. Those using check cashers and other services say they are faster, cheaper and more convenient than banks even though they pay a fee to cash a check. Nearly 30 million Americans have no bank account or use alternative financial services.
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Business factoring

Business factoring is used by companies with accounts receivable balances in order to improve their cash-flow situation. Factoring is the process whereby a finance company provides immediate money against a company's outstanding invoice balance. The receiving company obtains immediate cash in return for a fee paid to the finance company.
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