definitions

Question 1

free market economy

Answer 1

one where supply and demand regulate production and labor as opposed to government intervention

Question 2

planned economy

Answer 2

a type of economic system where financial decisions are made according to government plans

Question 3

whistleblower

Answer 3

reveals information about activity within a private or public organization that is deemed illegal, immoral, illicit, unsafe or fraudulent

Question 4

design thinking

Answer 4

a non-linear, iterative process that teams use to understand users, challenge assumptions, redefine problems and create innovative solutions to prototype and test

Question 5

change agent

Answer 5

someone who promotes and enables change to happen within any group or organization.

Question 6

core competencies

Answer 6

the capabilities, knowledge, skills and resources that constitute its “defining strength.”

Question 7

first mover advantage

Answer 7

a firm’s ability to be better off than its competitors as a result of being first to market in a new product category.

Question 8

competitive advantage

Answer 8

gives a company an edge over its competitors, helping it attract more customers and grow its market share

Question 9

dashboard

Answer 9

An interface that presents managers and other
decision makers with an easy-to-read, real-time
user interface often employing a graphical
presentation of the data to enable decision makers
to make informed decisions quickly.