Terminologies, 3. Flashcards
Leadership Style
The distinctive way in which decisions are taken in an enterprise.
Team building
The process of improving the effectiveness and motivation of people working together in a team.
Delegation
Where responsibility is passed down to others in an enterprise.
Innovation
The process of putting a new idea into practice.
Perseverance
The determination and persistence to achieve something despite experiencing difficulties.
Globalisation
The trend towards worldwide markets in goods and services.
Unique selling point (USP)
A feature of a product that makes it different from other similar products and therefore more attractive to people who might buy it.
SWOT analysis
An acronym for strengths, weaknesses, opportunities and threats; it is structured planning method that evaluates these four elements of an enterprise.
PEST analysis
The analysis of the wider macro-environment of an enterprise, including political, economic, social and technological, environmental and legal factors.
Technology
The use of tools, machines and science in the production of goods.
Corporate social responsibility
The willingness of an enterprise to accept responsibility for its actions and how they may have an impact on a variety of stakeholders.
Pressure group
An organisation that aims to influence governments and enterprises to adopt the policies and actions it favours.
Ethical principle
A way of doing something according to a set of moral principles, values and beliefs.
Social impact of enterprise
The impact, either positive or negative, that an enterprise may have on communities and society.
