• word of mouth (WOM)
    Form of message transmission, formerly limited to oral communication, that now involves passing information through all means of communication, including electronic media such as websites and social networks.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • working capital
    Otherwise known as operating liquidity, the difference between short-term (or current) assets and short-term (or current) liabilities. It is a measure of the financial health of a business that demonstrates that a firm has sufficient surplus of cash generated from its operations to pay its debts as they fall due.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)
  • zero-budget marketing
    Entrepreneurial marketing techniques that require few or no resources.Glossary term from Asia-Pacific edition of Entrepreneurship Theory Process Practice (Melbourne: Cengage, 2019)