Vision (Corporate)

The state or world in which an organization seeks to create or participate within. Whereas a mission defines an organization’s direction and priorities, its vision is the description of the destination this direction is heading. A vision is often a description of an organization, market, or world that is different than current and embodies its […]

Venture Philanthropy

Philanthropy that draws upon the traditional venture capital model to invest in nonprofits and socially entrepreneurial organizations to build their capacity, rather than to support discrete programs. Venture philanthropists typically assess progress and track the outcomes of their investments in terms of the social value produced. They often maintain a close and active relationship with […]

Venture Capital

Financing of startup and early stage businesses through high-risk, high reward deals in return for large equity stakes in the organization. Venture Capital (VC) firms serve as the intermediary between institutional investors – such as pension funds, university endowments, and high net worth individuals – and startup or early stage businesses. VC firms invest the […]

Virtual Organization

A network of individuals and organizations that coordinates the development, manufacturing, sales, distribution, and servicing of products or services and operate as a single entity with a common goal. A corporation can operate virtually as can a network of companies or organizations.


The additional value, in customer terms, created at a particular stage of production.

Value Creation

The benefits, in customer terms, made available by an organization’s products and services. Value is most often measured financially but can be emotional and meaningful as well.

Value Chain

Described and popularized by Michael Porter in his 1985 best-seller, Competitive Advantage: Creating and Sustaining Superior Performance, the value chain identifies the various value-adding activities of an organization or network. Often used as a tool for strategic planning because of its emphasis on maximizing value while minimizing costs.


Human beliefs and ideals that affect someone’s perspective of themselves and others. Values are a socially-constructed phenomenon and relate both to identity and the establishment of behavior. They represent a level of significance between emotion and meaning.


The concept of general economic or financial worth of a product or service. Also, a customer’s assessment of the ability of a product or service to meet their needs and desires. In neoclassical economics, value is simply the price an object would command in an open and competitive market.