Unit 2 Flashcards
Research
includes any gathering of data, information or facts for the advancement of knowledge
Primary Research
involves gathering data that has not been collected before
Secondary research
Data that has been already produce
Primary research methods
Interviews - meeting we questions are asked
Observations - taking note of something as it happens
Sampling - the process of selecting a group to represent a larger group
steps to follow when conducting research
Define the problem
Determine data need
Select research method
Collect the data
Analyse the data
Write a research report
Ethics
are the morals and principles that are acceptable in humans or organizations
Ethics of research
is the consideration of moral and principles when conducting research
Plagiarism
is using information that doesn’t not belong to you without the acknowledgment their work
Methods of referencing
Oxford Referencing Style
Harvard Referencing Style
Chicago Referencing Style
Export processing zones
is an area established to promote the export of local products
The aim of EPZ’s
in order to attract foreign investors that can create jobs and expand the industry and economy
Advantages of EPZ
Job creation
Innovative technology can be introduce
Disadvantages of an EPZ
There is restricted labour movement
Unsafe environments are usually associated with epz
As more epz are created, there is an inventive to keep costs low in order to compete, so workers will receive low wages while having in endure unsafe working conditions
E-commerce
is the use of electronic media for the trading of goods and services
Advantages of e-commerce for business
Increased customer base
Cost effective
Disadvantages of e-commerce for the business
Increased competition
Newcomers are often overlooked
Slow adaptation
Advantages of e-commerce to the customers
Cost effective
Wide variety of choice
Increased convenience
Disadvantages of e-commerce
Fraud
Returning of products is expensive
There is no human interaction
International entrepreneurship
is the process of an entrepreneur conducting business activities across national borders
International trade
exporting and importing of goods and services between countries
Advantages of international entrepreneurship
Access to new markets
Job creation
Attracting investments
Disadvantages of international entrepreneurship
Social welfare issues
Environmental issues
Political issues
Cultural identity issues
Market penetration
when a business gains a large share of the market where similar products already exist
Marketing
is the process of identifying the wants and needs of people and anticipate future wants and needs
