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Membership organization A membership organization is any organization that allows people or entities to subscribe, and often requires them to pay a membership fee or "subscription". Membership organizations typically have a particular purpose, which involves connecting people together around a particular activity, geographical location, industry, activity, interest, mission, or profession.
Church membership Church membership, in Christianity, is the state of belonging to a local church congregation, which in most cases, simultaneously makes one a member of a Christian denomination and the universal Christian Church. Christian theologians have taught that church membership is commanded in the Bible.
Indian Council of Medical Research The Indian Council of Medical Research (ICMR), the apex body in India for the formulation, coordination and promotion of biomedical research, is one of the oldest and largest medical research bodies in the world.\nThe ICMR is funded by the Government of India through the Department of Health Research, Ministry of Health and Family Welfare.
Transportation Research Board The Transportation Research Board (TRB) is a division of the National Academy of Sciences, Engineering, and Medicine, formerly the National Research Council of the United States, which serves as an independent adviser to the President of the United States, the Congress and federal agencies on scientific and technical questions of national importance. It is jointly administered by the National Academy of Sciences, the National Academy of Engineering, and the National Academy of Medicine.
SWOT analysis Spot analysis, spot test analysis, or spot test is a chemical test, a simple and efficient technique where analytic assays are executed in only one, or a few drops, of a chemical solution, preferably in a great piece of filter paper, without using any sophisticated instrumentation. The development and popularization of the test is credited to Fritz Feigl.A spot test or spot assay can also refer to a test often used in microbiology.
Product strategy Product strategy defines the high-level plan for developing and marketing a product, how the product supports the business strategy and goals, and is brought to life through product roadmaps. A product strategy describes a vision of the future with this product, the ideal customer profile and market to serve, go-to-market and positioning (marketing), thematic areas of investment, and measures of success.
Performance indicator A performance indicator or key performance indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products and other initiatives) in which it engages.Often success is simply the repeated, periodic achievement of some levels of operational goal (e.g.
Research program A research program (British English: research programme) is a professional network of scientists conducting basic research. The term was used by philosopher of science Imre Lakatos to blend and revise the normative model of science offered by Karl Popper's The Logic of Scientific Discovery (with its idea of falsifiability) and the descriptive model of science offered by Thomas Kuhn's The Structure of Scientific Revolutions (with its ideas of normal science and paradigm shifts).
Superfund Research Program The Superfund Research Program (SRP) was created within the National Institute of Environmental Health Sciences in 1986 under the Superfund Amendments and Reauthorization Act (SARA). The SRP is a university-based research program that supports the national Superfund program by addressing a wide variety of scientific concerns.
Balance sheet In financial accounting, a balance sheet (also known as statement of financial position or statement of financial condition) is a summary of the financial balances of an individual or organization, whether it be a sole proprietorship, a business partnership, a corporation, private limited company or other organization such as government or not-for-profit entity. Assets, liabilities and ownership equity are listed as of a specific date, such as the end of its financial year.
Financial law Financial law is the law and regulation of the insurance, derivatives, commercial banking, capital markets and investment management sectors. Understanding Financial law is crucial to appreciating the creation and formation of banking and financial regulation, as well as the legal framework for finance generally.
Chronic condition A chronic condition is a human health condition or disease that is persistent or otherwise long-lasting in its effects or a disease that comes with time. The term chronic is often applied when the course of the disease lasts for more than three months.
Timeline of Apple Inc. products This timeline of Apple Inc. products is a list of all stand-alone Apple II, Macintosh, and other computers, as well as computer peripherals, expansion cards, ancillary products, and consumer electronics sold by Apple Inc.
Product innovation Product innovation is the creation and subsequent introduction of a good or service that is either new, or an improved version of previous goods or services. This is broader than the normally accepted definition of innovation that includes the invention of new products which, in this context, are still considered innovative.
Gross domestic product Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period by countries. GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore, using a basis of GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market.
Trend analysis Trend analysis is the widespread practice of collecting information and attempting to spot a pattern. In some fields of study, the term has more formally defined meanings.Although trend analysis is often used to predict future events, it could be used to estimate uncertain events in the past, such as how many ancient kings probably ruled between two dates, based on data such as the average years which other known kings reigned.
General insurance General insurance or non-life insurance policy , including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance.
Fulton County, Georgia Fulton County is located in the north-central portion of the U.S. state of Georgia. As of the 2020 United States census, the population was 1,066,710, making it the state's most-populous county and its only one with over one million inhabitants.
Minimum Wages Act 1948 The Minimum Wages Act 1948 is an Act of Parliament concerning Indian labour law that sets the minimum wages that must be paid to skilled and unskilled labours.\nThe Indian Constitution has defined a 'living wage' that is the level of income for a worker which will ensure a basic standard of living including good health, dignity, comfort, education and provide for any contingency.
Temporary work Temporary work or temporary employment (also called gigs) refers to an employment situation where the working arrangement is limited to a certain period of time based on the needs of the employing organization. Temporary employees are sometimes called "contractual", "seasonal", "interim", "casual staff", "outsourcing", "freelance"; or the words may be shortened to "temps".
Marketing plan A marketing plan may be part of an overall business plan. Solid marketing strategy is the foundation of a well-written marketing plan so that goals may be achieved.
Multi-level marketing Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services where the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. An MLM strategy may be an illegal pyramid scheme.In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams.
TRIPS Agreement The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO). It establishes minimum standards for the regulation by national governments of different forms of intellectual property (IP) as applied to nationals of other WTO member nations.
Debt consolidation Debt consolidation is a form of debt refinancing that entails taking out one loan to pay off many others. This commonly refers to a personal finance process of individuals addressing high consumer debt, but occasionally it can also refer to a country's fiscal approach to consolidate corporate debt or government debt.
Soil consolidation Soil consolidation refers to the mechanical process by which soil changes volume gradually in response to a change in pressure. This happens because soil is a two-phase material, comprising soil grains and pore fluid, usually groundwater.
Consolidation (business) In business, consolidation or amalgamation is the merger and acquisition of many smaller companies into a few much larger ones. In the context of financial accounting, consolidation refers to the aggregation of financial statements of a group company as consolidated financial statements.
Democratic consolidation Democratic consolidation is the process by which a new democracy matures, in a way that it becomes unlikely to revert to authoritarianism without an external shock, and is regarded as the only available system of government within a country. This is the case when: no significant political group seriously attempts to overthrow the democratic regime, the democratic system is regarded as the most appropriate way to govern by the vast majority of the public, and all political actors are accustomed to the fact that conflicts are resolved through established political and constitutional rules.
Financial Services Authority (United Kingdom) The Financial Services Authority (FSA) was a quasi-judicial body accountable for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board (SIB) in 1985.
Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry The Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, also known as the Banking Royal Commission and the Hayne Royal Commission, was a royal commission established on 14 December 2017 by the Australian government pursuant to the Royal Commissions Act 1902 to inquire into and report on misconduct in the banking, superannuation, and financial services industry. The establishment of the commission followed revelations in the media of a culture of greed within several Australian financial institutions.
Siemens Financial Services Siemens Financial Services (SFS) is a Division of Siemens. The company’s global headquarters is in Munich, Germany.
Global Industry Classification Standard The Global Industry Classification Standard (GICS) is an industry taxonomy developed in 1999 by MSCI and Standard & Poor's (S&P) for use by the global financial community. The GICS structure consists of 11 sectors, 24 industry groups, 69 industries and 158 sub-industries into which S&P has categorized all major public companies.
Intellectual property in China Intellectual property rights (IPRs) have been acknowledged and protected in China since the 1980s. China has acceded to the major international conventions on protection of rights to intellectual property.
Trademark A trademark (also written trade mark or trade-mark) is a type of intellectual property consisting of a recognizable sign, design, or expression that identifies products or services from a particular source and distinguishes them from others. The trademark owner can be an individual, business organization, or any legal entity.
Settlement (litigation) In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases.
Risk Factors
CORPORATE EXECUTIVE BOARD CO Item 1A Risk Factors
In addition to the other information contained in this Annual Report on Form 10-K, you should carefully consider the following risk factors in evaluating us and our business
We depend on renewals of our membership-based services
We derive most of our revenues from annual memberships for our products and services
Our prospects therefore depend on our ability to achieve and sustain high renewal rates on existing research programs and to enter into new membership arrangements
Failure to achieve high membership renewal rate levels would have a material adverse effect on our operating results
Our ability to secure membership renewals depends upon our ability to deliver consistent, high-quality and timely research and analysis with respect to issues, developments and trends that members view as important
We cannot assure you that we will be able to sustain the necessary level of performance to achieve a high rate of membership renewals
Although we actively market our research programs throughout the year, historically, more than 40prca of all renewals have taken place in the fourth quarter of the year
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business
” 8 _________________________________________________________________ We cannot know in advance whether new products will be successful
Our future success will depend on our ability to develop new research programs that address specific industry and business constituencies and the changing needs of our current and prospective members for information, analysis and advice
We cannot assure you that our efforts to introduce new research programs will be successful
The process of internally researching, developing, launching and gaining client acceptance of new research programs is time consuming, expensive and inherently risky
Delays or failures during development or implementation, or lack of market acceptance of new research programs could have a material adverse effect on our business, financial condition and results of operations
Our business, financial condition and results of operations would be materially adversely affected if we were unable to develop and introduce successful new research programs or other new products, or to make enhancements to existing research programs in a timely manner in response to member requirements
See “Business—Products and Services
” We may experience difficulties in anticipating market trends
Our future success will also depend upon our ability to anticipate rapidly changing market trends and to adapt our research and analysis to meet the changing information needs of our members
We may fail to continue to provide helpful and timely research and analysis of developments and trends in a manner that meets market needs
Any such failure would have a material adverse effect on our business, financial condition and results of operations
The industry and business sectors that we analyze undergo frequent and often dramatic changes, including the introduction of new products and the obsolescence of old products, shifting strategies and market positions of major industry participants and changing objectives and expectations of users of members’ products and services
This environment of rapid and continuous change presents significant challenges to our ability to provide our members with current and timely research and analysis on issues of importance
Meeting these challenges requires the commitment of substantial resources
We must attract and retain a significant number of highly skilled employees
Our future success also will depend upon our ability to hire, train, motivate and retain a significant number of highly skilled employees, particularly research analysts and sales and marketing staff
Our inability to do so would have a material adverse effect on our business
We have experienced, and expect to continue to experience, intense competition for professional personnel from management consulting firms and other producers of research and analysis products and services
Many of these firms have substantially greater financial resources than we have to attract and compensate qualified personnel
We cannot assure you that we will be successful in attracting a sufficient number of highly skilled employees in the future, or that we will be successful in training, motivating and retaining the employees we are able to hire
See “Business—Employees
” We are restricted from selling our products and services to health-care provider companies
At the time of our initial public offering, we entered into an agreement with The Advisory Board Company that restricts us from selling our membership-based products and services to companies principally engaged in the health-care provider business, although we may sell such products and services to non-health-care provider divisions or subsidiaries of health-care provider companies
The agreement continues through January 1, 2007
Continued consolidation in the financial institution industry may adversely impact our business
A number of our research programs are oriented toward companies in the financial services industry
The financial services industry is continuing to experience substantial consolidation
This consolidation has resulted, and is expected to continue to result in a reduction in the number of our financial institution members
We cannot assure you that this consolidation will not materially and adversely affect our results of operations
At December 31, 2005, less than 30prca of our contract value was attributable to financial institution members, which include commercial banks, thrifts, credit unions, credit card issuers, mutual fund companies, consumer credit lenders, brokerage houses, private and trust banks and insurance companies
We may experience fluctuations in operating results
Our operating results may fluctuate significantly due to various factors, including the growth in and timing of new programs, the timing of the development, introduction and marketing of new products and services, the timing of executive education seminars, the timing of the hiring of research analysts and sales and marketing staff, changes in the spending patterns of our members, our accounts receivable collection experience, changes in market demand for research and analysis, foreign currency exchange rate fluctuations, competitive conditions in the industry and general economic conditions
See “Management’s Discussion and Analysis of Financial Condition and Results of Operations
” 9 _________________________________________________________________ We may be unable to protect our intellectual property rights
We rely on copyright laws, as well as nondisclosure and confidentiality arrangements, to protect our proprietary rights in our products and services
We cannot assure you that the steps we have taken to protect our intellectual property rights will be adequate to deter misappropriation of our intellectual property or that we will be able to detect unauthorized uses and take timely and effective steps to enforce our rights
If substantial and material unauthorized uses of our proprietary products and services were to occur, we would be required to engage in costly and time-consuming litigation to enforce our rights
We cannot assure you that we would prevail in such litigation
If others were able to use our intellectual property, our ability to charge our fees for our products and services would be adversely affected
We may be exposed to litigation related to content
As a publisher and distributor of original research and analysis and a user of third-party content, we face potential liability for defamation, negligence and copyright and trademark infringement
Any such litigation, whether or not resulting in a judgment against us, could have a material adverse effect on our financial condition and results of operations
Third-party content includes information created or provided by information services organizations and consultants whom we retain and may be delivered to clients in writing, over the Internet or orally
We may be exposed to loss of revenue resulting from our unconditional service guarantee
We generally offer an unconditional service guarantee to our members
At any time, a member may request a refund of its membership fee for a research program
Refunds are provided on a pro rata basis relative to the remaining term of the membership
Requests for refunds of membership fees by a significant number of our members could lower revenues and have a material adverse effect on our financial condition and results of operations