Business Context Flashcards
(33 cards)
Accessibility
The ease of use of services for individuals with impairments (visual, hearing, mobility, etc.).
Audience Exclusion
Parts of the market that cannot be reached due to limitations in technology access.
Change
Implementation of new systems via parallel, phased, direct, or pilot methods.
Cloud
Online hosting of applications and data storage.
Compatibility
The ability of hardware/software components to work together without error.
Competition
Businesses in the same market competing for the same customers.
Corruption
Data that is damaged or inaccessible due to being altered.
Crisis
Unexpected events (natural disasters, cyberattacks, etc.) that disrupt business operations.
Data Modelling
Using databases to simulate and test real-world scenarios.
Diversification
Entering new markets beyond current business experience.
Efficiency
Meeting objectives with minimal waste or delay, maintaining productivity.
External Stakeholders
Parties outside the business (e.g. customers, shareholders) with vested interests.
Finance
Business function handling money flow and financial planning.
Human Resources (HR)
Department managing employee-related tasks such as recruitment and administration.
Internal Stakeholders
Individuals within the business (e.g. employees) invested in its success.
Logistics
Management of goods and services delivery and movement.
Management
Coordination and supervision of business activities and staff.
Marketing
Promoting products/services to generate sales and brand awareness.
Overheads
Ongoing business costs (e.g. utilities, equipment).
Pain Points
Specific problems experienced by customers.
Product
Tangible item available for purchase (e.g. electronics, groceries).
R&D (Research and Development)
Process of innovating and designing new products.
Rebranding
Changing a company/product image to remain market-relevant.
Scaling
Preparing a business for growth and expansion.
