A
Selling goods or services manufactured in a home country in an overseas market
What is exporting?
a small segment of the market that has a unique set of characteristics
What is a niche market?
made up of four stages of employment through which an employee moves in a business
What is the employment cycle?
With four quadrants, this matrix is a tool used to plan growth strategies
What is an Ansoff matrix?
an analysis tool used to identify factors in the macro-environment
What is a STEEPLE analysis?
the relocation of a business process or activity performed in one country to another country
What is offshoring?
the process by which businesses develop new technology or improve existing technologies to improve operations
What is research and development?
the third stage of the employment cycle
What is the maintenance stage?
the replication or expansion of a business, product, service or model into new markets or industries
What is horizontal growth?
made up of four critical factors for business: owner, employees, organisational structure and organisational culture
What is the internal environment?
generally based in the export market and often represents several complementary products or services
What is an agent?
a new technology with the potential to substantially alter the business and social environment
What is emerging technology?
a theory that identifies challenging, but not overwhelming, goals as an employee motivator
What is Locke's goal setting theory?
the adaptation of business products and services to increase sales revenue from the existing market
What is vertical growth?
the rate at which prices for goods and services rise
What is inflation?
a company that is owned by, and sells goods or services, a larger company
What are sales subsidiaries?
happens when a smaller business with fewer resources is able to successfully challenge an established business in the market
What is disruptive innovation?
the process whereby new staff learn the social and performance areas of their new job
What is induction or onboarding?
an element of the matrix that focuses on entering a new market with a new product or service
What is diversification?
provides the goods and services that a business needs to operate
What is a supplier?
allows a business to commercialise their intellectual property by giving multiple other businesses a right-to-use
What is a non-exclusive license?
the activity of electronically buying or selling of products on online services
What is e-commerce?
the rate at which a business keeps its staff within a given period
What is staff retention?
the process of a business buying out another business
What is acquisition?
an organisation formed by workers in an industry to work for the common interest of its members
What is a trade union?