Systems & Technology Business Terms

Question 1

Benchmarking

Answer 1

The process by which you measure various aspects of your systems (e.g., speed, efficiency, cost, amount of product).

Question 2

SWOT

Answer 2

SWOT is an acronym that refers to a form of analysis that examines your:

Strengths
Weaknesses
Opportunities
Threats

Question 3

KPI

Answer 3

KPI is an acronym that stands for Key Performance Indicators. KPIs are usually numbers that tell you how effective your business is in a specific area.

Question 4

Metrics

Answer 4

Any quantifiable (countable) measurement your business uses to assess performance.

Question 5

Performance Review

Answer 5

A performance review is a process by which a manager evaluates each member of his or her team. During the performance review, the manager provides feedback and helps the employee see how they can improve.

Question 6

R & D

Answer 6

Short for research and development.

Question 7

B2G

Answer 7

Short for business-to-government and describes transactions with government entities.

Question 8

Scalable

Answer 8

Able to be changed in size.

Question 9

Responsive Design

Answer 9

This term refers to a website that changes based on the type of device (tablet, phone, laptop, desktop) used to view it.

Question 10

Core Competency

Answer 10

A core competency is a defining capability or advantage that distinguishes you from your competitors.