Strategy & Innovation
This term describes a market space where a company creates its own demand, making competition irrelevant. 2 words, starts with B
Blue Ocean
Target market
The process of sourcing and acquiring the goods and services a company needs to operate. Starts with P
Procurement
Showing little or no change, activity, or progress. Starts with S
A type of business owned and operated by individuals or shareholders, not the state. 2 words, starts with P
Private sector
A government grant that gives the creator of an invention the sole right to make, use, or sell it for a set period. Starts with P
Patent
The worth of a product holds in the mind of a consumer, which may not reflect its actual cost. 2 words, Starts with P
Perceived Value
A business that provides services rather than goods, such as banking, hospitality, or transport. 2 words, starts with T
Tertiary Sector
THis adjective describes a company or brand that is well-known and has been successful for a long time. Starts with E
Established
This sector involves taking raw materials from the earth, like farming, fishing, and mining. 2 words, starts with P
Primary Sector
Trail & Error
When a business takes actions that cause its core customers to feel distanced or estranged. Starts with A
Alienating
These are a fundamental part of modern logistics; in a restaurant, they are the vital link between the kitchen and customer. Starts with I. (super important and necessary)
Integral
This term describes when a business has reached a point where it stops growing or increasing, leveling off after a period of success. Starts with P
Plateaued
This knowledge based sector includes IT companies, research firms, and other businesses focused on innovation. 2 words, starts with Q
Quarternary Sector
An adjective used to describe a new product, service, or idea that is completely original and introduces a big change. Starts with G
Groundbreaking
A group of potential customers who have a need but are not currently being served by any business. 2 words, starts with U
Untapped Market
The verb meaning to find a way through a complex system, such as a young entrepreneur learning to deal with government rules. Starts with N
Navigating
The verb meaning to use an asset or resource (like a network or data) to maximum advantage. Starts with L
Leveraging
This part of the economy is made up of services and organizations that are owned and run by the government. 2 words, starts with P
Public Sector
This verb meaning to control and use a natural force (like solar power) or a resource to achieve a goal.
Harnessing
When a broad market (like phone buyers) is divided into smaller groups (like students and business people) based on shared characteristics.
Semented
The systematic computational analysis of data or statistics, often used to understand customer behavior online. Starts with A
Analytics
The quality of being able to recover quickly from difficulties; a key trait for small business in areas prone to flooding.
Resilient
The sector of the economy that transforms raw materials into manufactured goods, like a factory turning rubber into tires.
Secondary Sector