ch.1 Flashcards
(21 cards)
Def: Baby Boomers
A demographic group of Canadians who were born in the period from 1946 to 1964
Def: business environment
The surrounding factors that wither help or hinder the development or businesses
Def: Circular economy
Reusing, redistributing, refurbishing, and recycling products instead of dumping them the in landfills.
Def: crowdsourcing
Using the expertise of a large group of people to solve a business problem.
Demography
The statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender and income.
Def: e-business
Any information system or application that empowers business processes
e-commerce
The buying and selling of goods and services over the Internet.
Empowerment
Giving front-line worker the responsibility, authority, and freedom to respond quickly to customer requests.
Factors of production
The resources used to create wealth: land, labour, capital goods, entrepreneurship, and knowledge.
Def: greening
The trend toward saving energy and producing products that cause less harm to everyone.
Def: Insourcing
Assigning various functions that could go to an outside organization to employees in the company.
Def: Intellectual capital
Includes employee knowledge and skills that can be used to create new product, attract new customers, and increase profits.
Non-profit organization
An organization whose goals do not include making a personal profit for its owners or organizers.
Offshoring
Sourcing part of the purchased inputs outside of the country.
Outsourcing
Assigning various functions, such as accounting, production, security, maintenance, and/or legal work, to outside organizations.
Quality of life
The general well-being of a society in terms of its political freedom, natural environment, education, healthcare, safety, amount of leisure, and rewards that add to the satisfaction and joy that other goods and services provide.
regulations
Restrictions that provincial and federal laws place on businesses with respect to the conduct of their abilities.
Social eenterprises
Ventures established by social entrepreneurs and which act as vehicles for addressing social and/or environmental needs
Skateholders
All the people who stand to gain or lose by the policies and activities of a business
Standard of living
The amount of goods and services people can buy with money they have
Sustainability
Social perspectives focus on quality of human life, economic views emphasize a steady-state economy.
