GLOSSARY BOOK 3

GLOSSARY BOOK 3



Adopt: To adopt  something means to start to use it.
Adventage: An Adventage is a quality or condition that helps a company succeed.
Affordable: something that is Affordable is not too expensive to buy.
Balance sheet: A balance sheet is a document that shows the value of a company at a point in time.
Benchmarking: Benchmarking is a method of investigating successful techniques in an industry and comparing them to ones own business.
Best Practice: Methods that consistently show the best results are considered best practice.
Brand: A brand is te name and the identify of the product.
Capitalize: If you capitalize on something, you use the situation to your own adventage.
Competitor: A Competitor is a rival in the  same field.
Consumer: A Consumer is aperson who buys and uses produces sold by someone else.
Deal with: To deal with  something means to take action to solve a problem.
Depreciation:  Is the loss of  something value over time.
Distribution channel: Is the way you make your product available to customers.
Economic output: Is the amount of goods and services produced by a company, region or country.
Entrepreneurship: Is the ability and willingness to start and manage a new business.
Empower: To empower someone means to give that person the power to make decisions.
Flop: To flop is to fail
Flyer: A flyer is a piece of paper which advertises your product.
Free trade: Free trade is trade between nations without restrictions of fees.
gaffe: A gaffe is a mistake in a social situation
gap: A gap is a space, or a place where nothing exists.
grant: A grantmoney, that someone gives to help with a specific project.
harmonious: If a group of people is harmonious, everyone is friendly and there are no arguments.
hospitality: hospitality is the act of looking after other people when they visit you.
host: A host is a person who welcomes you when you visit a new place.
Influence: If you Influence someone, you change their mind.
Innovation: An Innovation is a new idea or technology.
Industry leader: An industry leader is a company or business entity that has the highest profit or the highest market share.
Market: A market is a real or virtual place where buyers and sellers trade goods, and services.
Manners: Manners are rules of good behavior.
Motivation: Is the urge to do something well.
Outlet: An outlet is a place that sells products from a particular taks in a company.
Opportunity: An opportunity is a change to do something desirable or useful.
Operation: An operation is a particular taks in a company.
Quotas: Quotas are limits on quantities that cannot be legally  exeeded.
Quality management: Includes all managment activities involved in determing quality policy.
Raw material: Is a natural product, such as wood or oil. It has not been made into another  product.
Recall: A recall is the process of returning faulty goods to a company.
Range: A range is a group of things or products which  are part of a set.
Strive: To strive means to try very hard.
Surplus: A surplus is group of material which you bough, but you not do not need.