Shared Flashcard Set

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2.2 Vocab
N/A
20
Business
11th Grade
02/19/2013

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Cards

Term
Environmental Scanning
Definition
Collecting information about the environment surrounding your business. A three-step process in which businesses gather information about their surrounding, analyze that information, and determine the future impact of that information.
Term
Information Management
Definition
the process of accessing, processing, maintaining, evaluating, and disseminating knowledge, facts, or data for the purpose of assisting business decision making.
Term
Marketing
Definition
Organizational function and a set of procedures for creating important stuff
Term
Primary Research
Definition
collection of original data
Term
Procedures
Definition
Step-by-step instructions
Term
Secondary Research
Definition
Summary of original data
Term
demographics
Definition
The study of the people in one area
Term
society
Definition
the community at large
Term
Culture
Definition
The different types of religions and ethnic groups in a community
Term
Economy
Definition
activities that deal with goods and services being sold
Term
Competition
Definition
a conflict between two objects
Term
Government
Definition
The people who run the country
Term
Technology
Definition
Cell phones and the like; the use of scientific discoveries
Term
Brand Competition
Definition
A competition between two similar brands
Term
Competition for substitutes
Definition
A competition between two different brands that satisfy the same need
Term
General Competition
Definition
Competition between all the brands and products
Term
SWOT
Definition
Strengths, Weaknesses, Opportunities, Threats; specific analysis of your own business
Term
STEEP
Definition
Social, Technological, Economic, Ecological, and Political; general awareness of the industry that you work in
Term
PEST
Definition
Political, Economic, Social, and Technological; classic situational analysis of your heading
Term
PESTELI
Definition
Analysis in which the headings Ecological, legislative and industry are added
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