Martinndungu1986

Absolute advantage - The ability to produce something more efficiently than any other country can Accommodative stance - Approach to social responsibility by which a company, if especially asked to do so, if minimums and it's commitments to groups and individuals in its social environment Acquisition - The purchase of one company by another Aggregate Output - The total quantity of goods and services produced by a economic system during a given period Association of Southeast Asian Nations...

"Marketing" - Marketing = Activities/processes for creating/delivering/enhancing value that meet customer's needs at large. 1. Defining TARGET MARKET - Target Market = group of individuals whom business want to satisfy. Basically the group of people business wants to have as customers). -Define by identifying MARKET SEGMENTATION by dividing a market into more specific area of individuals through their interests/characteristics/lifestyle/income, etc. 4 Segmentations: 1. Demographic : pe...

Absolute advantage - A monopoly on producing a product at a lesser price. absolute liability - Responsibility of a producer of any harm that is caused by s product (regardless if it was foreseeable). accountability - Accepting consequences of actions. accounting - The occupation of maintaining and auditing records and preparing financial reports for a business and the interpretation thereof. accounting system - Computer program for accounting. accounts payable - Bills due as part of a nor...

Assessment of the proposed target market and industry being proposed. Industry- group firms selling similiar products/services - Industry/ target market feasibility 1-3 page overview, most important part, written after plan is completed - Executive Summary 1. creating a new product or innovating a product (idea creation) 2. sharing idea and testing prototype (initial experimentation) 3. Testing the practicability and financial availability (feasible determination) 4. Commercializing the pr...

Absolute Advantage - When a country produces more of a product that other nations using the same amount of resources. Active Listening - Attentive listening that occurs when a listener focuses his or her complete attention on a speaker. Balance of Payment Deficit - More money flows out than in. Balance of Payment Surplus - More money flows in than out. Bias - Preconception about a member of society. Bleeding edge - Products released too early. BRIC Countries - Brazil, China, Ru...

Asia - What country makes up the largest percentage of World Population. Business - Any activity that seeks to provide goods and services to others while operating at a profit. Business Plan - A detailed written statement that describes the nature of the business, the target market, the advantages the business will have over competition, and the resources and owners' qualifications. Carbon Footprints - the amount of carbon released during an item's production, distribution, consumption a...

Business - Supplies us with goods/services in exchange for payment in some form. Capital - Money is also referred to as _________. Capital - The factors of production. (Money) Capital Resources - Tools, equipment, and buildings that are used to produce goods and services. Capital Resources - Tools, equipment, and buildings used to supply businesses. Capitalism - An economic system in which most economic resources are privately owned and decisions about production are largely made by free e...

Business Plan - a document that describes a new business and a strategy to launch that business Business Sector - Sells goods and services to consumers. Products market Entrepreneurship - A self-proprietor or one who creates and assumes all risks of a business. Horizontal Integration - system of consolidating many firms in the same business Human Resources - People who work to produce goods and services. Intrapreneurship - entrepreneurial activity that takes place within the context of a la...

21st Century Manager - Intelligent, highly motivated, ability to create and sustain a vision of how an organization can succeed. 7 Eras in the History of Business - The Colonial period, The Industrial revolution, The age of industrial entrepreneur's, The production era, The marketing era, The relationship era, and the Social era. Business Workforce Changing - Aging of Population and shrinking labor pool Capitalism - Economic system that rewards firms for their ability to perceive and serve...

Absolute Advantage - The ability to produce something more efficiently than any other country can. Accommodative Stance - A company, if specifically asked to do so, exceeds legal minimums in its commitments to groups. Acquisition - The purchase of one company by another. Aggregate output - The total quantity of goods and services produced by an economic system during a given period. Primary measure of growth in the business cycle. Assessing Ethical Behavior - 1. Gather the relevant factua...