Glossary

Australian Business Number (ABN)

A unique 11 digit identifier that makes it easier for businesses and all levels of government to interact.

Auspicing

Taking on the responsibility for managing funds on behalf of another.

Consignment

Products sent to a third party (e,g. shop) to be sold. Payment for goods is received on final sales only and any unsold items can be sold.

Crowdfunding

Funding gained when a group of individuals donate money to a specific project, usually through various online systems.

Donation

When something of value is given to help an individual or organisation.

Gantt Chart

A diagram that outlines the stages of a project. It identifies particular stages that can be done at the same time, and those that must be completed before others can start.

Grant

An amount of money given to an individual, project team or organisation for a specific purpose.

In Kind

Support given in the form of products, goods or services.

Invigilator

A person employed (voluntarily or professionally) to oversee a gallery while an exhibition is held.

Incorporated Association

A legal entity (business) recognised by the government of the state in which it has been incorporated.

Market Segment

A group of potential customers who have common demographical distinctions.

Philanthropy / Philanthropic

Charitable aid or donations made by a group or individual in support of a project or organisation.

Qualitative Data

Data which describes how a person feels about or interacts with something.

Quantitative Data

Numerical data used in assessment or market research.

SMART Goals

Mnemonic device used in project management to describe goals: Specific, Measurable, Attainable, Relevant, Timely.

Sponsorship

The act of supporting a person, organisation, or activity by giving money in exchange for promotion.

Stakeholder

An employee, investor, customer, or someone who has an invested interest in its success.

SWOT Analysis

A method of analysing the strengths, weaknesses, opportunities, threats of any activity or product.

Target Market

A group of people that an organisation wishes to sell its products or services to.

Wholesale

The activity of selling goods to stores, other businesses, etc. rather than to the public.

Zine

A magazine that appears on the internet or is sent as an email or a handmade publication with a small distribution scale.