Key business terms
Management- Organization and coordination of the activities of an enterprise in accordance with certain policies and in achievement of clearly defined objectives. Management is often included as a factor of production along with machines, materials, and money.
Value Creation- delivering additional value to the bottom line through new methods.
Business Model- The plan implemented by a company to generate revenue and make a profit from operations. The model includes the components and functions of the business, as well as the revenues it generates and the expenses it incurs.
Strategy- a plan of action designed to achieve a particular goal.
Structure- a fundamental if sometimes intangible notion referring to the recognition, observation, nature, and stability of patterns and relationships of entities.
Markets- The opportunity and business of providing a product or service that is in demand.
Globalization- The existence of global markets. inter-business and communication between various countries across the world for product manufacturing, marketing, distribution.
Emerging Markets- These are the unestablished but developing markets through out the world. Investments that are taken at great risk to create a market that was not already there.
Trade Policy- individual government policy and law having to do with international import and export of goods.
Comparative Advantage- this is the individuals opportunity and ability to compete in a market, with more efficiency or cheaper than someone else.
Strategy- a plan created in order to increase efficiency, skill, and to reach a desired goal.
Value Creation- The tracking of value through assets and financial revenue in a business. I would say almost like an assessment or evaluation on the worth of a company.
Economics- in my opinion economics would not just be the assessment of production of a society, but also the overall frugality and consumption measurements that take an effect on society.
Monetary Policy- The Governments policy on the availability of money. if the restrictions or policy is stricter, than there is less mobility in credit. It will be harder to get loans because the interest will be higher and harder to qualify for.
Fiscal Policy- These are the policies the government puts into effect because they deal with tax rates, and interest rates, which will help fund the government. Recently the U.S. along with many developed countries in effort to control the economy have pushed for these fiscal policies. The effect is frugality amongst those in society and more securities for the government to function and help the economy.
inflation- If money comes to be in great abundance in the economy, then prices of consumer products will increase accordingly. This increase is called inflation. Also if the dollar or value of money decreased and the price of products stayed, this also would be inflation.
Dow Jones Industrial Average- This is the average rise and fall of the stocks and companies traded on the New York Stock Exchange. This indicates domestic industry and the economic well being.
Weak dollar vs. Strong dollar- This has to do with with the economy. If the American economy is doing well then the dollar is worth more. In an international perspective if you are to do trade business and your currency is weak, it will cost you more to afford what you need. If you have a Strong dollar then you get things cheaper because your dollar goes farther.