Measures put in place to cope with an unlikely but significant event, e.g. a computer breakdown or factory fire.

Goods or services purchased for immediate use.

The user of a product, who may or may not be the purchaser.

Change or modification to a product or service that occurs in response to consumer needs and preferences. These needs and preferences are obtained using a range of market research techniques including focus groups, data analysis and secondary researc

Bringing together of two or more businesses to form one. By consolidating, a business hopes to be more competitive.

To act in accordance with the requests of another party or with legal or regulatory requirements.

The ability of a company to compete effectively with other firms.

Australia operates within a competitive global economy. A competitive economic sector results when an industry is able to compete effectively in a global market.

Exists when one producer has a more efficient way of combining resources to produce a good or service that gives that organisation a market advantage over its competitors.

The typical pattern of doing things in an organisation, ‘the way we do things round here’. A set of either formal or informal values and behaviours that exist within an organisation.