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Corporate Culture the total sum of the values, customs, traditions and meanings that make a company unique. often called the character of an organization since it embodies the vision of the companys founders. it influences the ethical standards within a corporation, as well as managerial behavior.Knowledge WorkerA knowledge worker in todays workforce is an individual that is valued for their ability to interpret information within a specific subject area. Employees such as data analysts, product developers, planners, programmers, and researchers are all knowledge workers.Organizational BehaviorThe study of human behavior, attitudes, and performance in organizations, as well as the nature of the organizations themselves.Privatization Incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector (government) to the private sector (business). OutsourcingOutsourcing is subcontracting a process, such as product design or manufacturing, to a third-party company. The decision to outsource is often made in the interest of lowering cost or making better use of time and energy costs, or to make more efficient use of land, labor, capital, technology and resources. Corporate Citizenship A firms sense of responsibility towards the community and environment (both ecological and social) in which it operates, and draws resources and sustenance from. Firms express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.Budget DeficitThe amount by which expenditures exceed revenues for a specific period. The term is generally applied to governments when expenditures exceed tax revenues and the difference must be made up with borrowing. Large budget deficits accompanied by major borrowing can result in higher market rates of interest. StakeholderThe term has been defined as “those groups without whose support the organization would cease to exist” and originally included shareowners, employees, customers, lenders and society. The stakeholder concept has become wildly used in recent years, due to factors such as increased public interest and concern about corporate governance.DeflationDeflation is defined as a decrease in the general price level.It is a negative inflation rate. Deflation means the value of money will increase. Deflation is often associated with periods of negative or stagnant economic growth. In fact deflation is often used to express a declining economy. Structural UnemploymentJoblessness caused not by lack of demand, but by changes in demand patterns or obsolescence of technology, and requiring retraining of workers and large investment in new capital equipmentFMCG (Fast Moving Consumer Goods) the products that are sold quickly at relatively low cost. Though the absolute profit is relatively small, they generally sell in large quantities, so the cumulative profit on such products can be large; Examples of FMCG generally include a wide range of frequently purchased consumer products such as toiletries, soap, cosmetics, teeth cleaning products, glassware, light bulbs, batteries, paper products and plastic goods; FMCG may also include pharmaceuticals, consumer electronics, packaged food products and drinks, etc.Market SegmentationThe purpose for segmenting a market is to allow your marketing/sales program to focus on the subset of prospects that are “most likely to purchase your offering. If done properly this will help to insure the highest return for your marketing/sales expenditures. brand is a name or trademark connected with a product or producer. Brands have become increasingly important components of culture and the economy, now being described as cultural accessories and personal philosophies. Globalization describes an ongoing process by which regional economies, societies and cultures have become integrated through a globe-spanning network of exchange. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.New product development (NPD) refers to the complete process of bringing a new product or service to market. There are two parallel paths involved in the NPD process: one involves the idea generation, product design, and detail engineering; the other involves market research and marketing analysis. (From Wikipedia)Supply chain management (SCM) is the management of a network of interconnected businesses involved in the ultimate provision of product and service packages required by end customers (Harland, 1996). Supply Chain Management spans all movement and storage of raw materials, work-in-process inventory, and finished goods from point of origin to point of consumption (supply chain).Microeconomics a branch of economics that studies how households and firms make decisions to allocate limited resources, typically in markets where goods or services are being bought and sold. Microeconomics examines how these decisions and behaviors affect the supply and demand for goods and services, which determines prices; and how prices, in turn, determine the supply and demand of goods and services.Macroeconomics is a branch of economics that deals with the performance, structure, and behavior of a national or regional economy as a whole. It is the study of the behavior and decision-making of entire economies. Macroeconomists study aggregated indicators such a
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