The following are all Terms used throughout the Australian Business Case Studies website. This Glossary should help you understand the meaning behind each term.
When a company actively seeks to purchase another business, usually through buying a controlling interest in its shares, to facilitate growth and expansion.
When a company actively seeks to purchase another business, usually through buying a controlling interest in its shares, to facilitate growth and expansion. See also merger, takeover
Measures taken to eliminate direct and indirect discrimination, and for implementing positive steps to overcome the current historical causes of lack of equal employment opportunity.
Part of corporate governance in which a management provides accurate and current information to the stakeholders about the efficiency and effectiveness of its policies and operations, and the status of...
The formal analysis of systems and processes to gain insight into patterns of use. This can lead to adjustments to improve the operational efficiency of a system or process.
The formal analysis of systems and process to gain insight into patterns of use. This can lead to adjustments to improve the operational efficiency of a system or process.
The people/companies that carry out the formal examination of financial systems and the reports that come from them to ensure compliance with records and standards set.
A process where a business compares its performance in a particular area with that of other, similar businesses. Often businesses seek an international benchmark.
A proven method or system that is recognised as being the most successful. Organisations attempt to develop best practice approaches to deliver on their mission and objectives.
Abbreviation for biotechnology. Biotechnology is any technique used to make or modify the products of living organisms in order to improve plants or animals.
A method of generating ideas involving asking groups of people to think up concepts regardless of how fanciful they might seem. The complete list of brainstormed ideas can then be analysed to ascertain...
The trading name of a product that has a high level of recognition in the market place. Successful development of the brand and 'brand mark' (identifying symbols and design) is a considerable marketing...
The key aspects, message, or factors specific to the brand. A brand value can create an immediate and identifiable association in the mind of a consumer.
The public image of a company ranging from its logo, name and design to the image that it projects to other parties. Part of a company’s branding can also include the way it deals with its customers,...
A system whereby all functions, roles and responsibilities in a particular area (e.g. human resources) are performed by one central department. Its services are then shared by all other departments. This...
The task of managing change within an organisation. Usually refers to the people side of change. One meaning of managing change refers to 'the making of changes in a planned and managed or systematic...
Provides a definition and outline of acceptable behaviour and conduct that must be followed and also usually gives clarification of unacceptable behaviour.
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.
The operating philosophies or principles that guide an organisation’s internal conduct as well as its relationship with its customers, partners and shareholders.
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.
Australia operates within a competitive global economy. A competitive economic sector results when an industry is able to compete effectively in a global market.
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...
In a test or trial, the group that does not receive the new product or process being studies and which is compared to the group that does receive the product or process.
Convergence occurs when two or more factors come together to complement each other and lead to a positive outcome for the business. Often used in relation to a range of technologies that a business may...
The obligation or responsibility an organisation has to a specific group such as the local community, employees and the like and/or to a wider cause or issue such as the environment.
The obligations or responsibility an organisation has to a specified group such as the local community, employees and the like and/or to a wider cause or issue such as the environment. Often referred...
The obligations or responsibility an organisation has to a specified group such as the local community, employees and the like and/or to a wider cause or issue such as the environment. Often referred...
A specialist advertising agency that provides inspiration and skill. Agencies and buyers often refer to advertising banners and other forms of created advertising as 'the creative'.
Factor/s identified by a business as being crucial to the success of its long term goals and plans. Without these factors being achieved the goals will not be reached.
Factors identified by a business as being crucial to the success of its long term goals and plans. Without these factors being achieved the goals will not be reached.
The typical pattern of doing things in an organisation. The business culture determines how different levels of staff communicate with one another as well as how employees deal with clients and customers....
Sending messages directly to consumers through various means including flyers and e-mail. Direct marketing usually includes a call to action in the material.
An approach to investment that emphasises the need to have a range of investment types as part of an investor's portfolio. This allows the risk of investment to be spread.
The participation of a business in a range of different sectors and/or industries. It can result in improved income streams and a method of spreading risk.
The part of a company's earnings that is distributed to shareholders in return for their capital - they are paid regularly (usually half-yearly) and provide some indication of the company's success.
An independent unit within a company or group of companies which has a focus on a particular aspect of the business - divisions can be established by product/service type, geography or customer.
An indirect reporting line to a supervisor. In a company's organisational chart, employees will have a line that shows their immediate supervisor. A dotted line is used to show an indirect report.
The concept of creating business policies that are financially supportable over a long period of time without taking away too many financial resources of the organisation.
This involves sending messages directly to consumers through various electronic means including mobile phone, SMS messages and email. Electronic direct marketing usually includes a call to action in the...
The number of employees that remain with a business over a particular period of time. High levels of retention are seen to reflect good HR practices and employee relations.
Organisations that have policies and practices in place that attract higher calibre people to work for them and where the organisation is able to retain them for longer than their competitors.
When human activity increases the gases that are a natural part of the atmosphere, for example, carbon dioxide, methane, nitrous oxide and fluorocarbons which trap heat above the world’s surface.
Equity is the ownership interest in a company in the form of shares. Equity raising here would be the buying up of shares to increase this ownership interest.
The practical management activity of 'getting things done' that allows a business to actually achieve its goals. The term was popularised by business leaders Larry Bossidy and Ram Charan.
Factors external to the business that influence its operation and actions. They include such things such as economic conditions, consumer behaviour and technological developments.
A franchise is a business relationship between a franchisor (someone who owns the business) and a franchisee (an independent person who pays a fee to use their established business name, expertise and...
A person who pays a fee to another business operator to distribute their goods/services and use their established business name, expertise and knowledge.
Those born between 1982-2000. Often marketers and others try to understand different markets by looking at the typical behaviours and purchasing patterns of different generation groups.
The development of organisations as competitors in an international marketplace. Organisations need to become more competitive internationally due to the development of the Internet, worldwide communication...
Commonly referred to as a multinational or transnational business, it is a business that has its main office in one country, but operates in other countries as well.
A rise in the temperature of the Earth's atmosphere caused by an increase in greenhouse gases, such as carbon dioxide, which traps the sun's heat and causes changes in climate.
The development of organisations as competitors in an international market. Organisations need to become more competitive internationally due to the development of the Internet, worldwide communication...
The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company’s relationship with its all stakeholders.
An organisational structure that has a number of levels and a chain of command by which decisions are made at an organisation's top levels and passed downwards
A functional area of management involved with the employment relationship between an organisation and its employees; the effective use of employees in order to enhance organisational performance.
A widely used tool for measuring organisational culture. It provides a profile of an organisation’s operating culture, in terms of the behaviours that members believe are required to fit in and...
A person or organisation devoted to the promotion of human welfare and to social reforms. It can involve working on special aid projects both within Australia and overseas.
A plan for training and development which individual employees discuss and agree with their manager which aims to contribute to their performance at work and enhance their career prospects. The IDP is...
The process of introducing a new employee to the workplace. Typical activities include familiarisation with company policies, introduction to fellow employees and early training.
Various forms of disruption to the activities of a business intended to highlight or terminate a grievance or disagreement between the workforce and the employers.
Refers to the legal environment relating to employment including occupational health and safety, anti-discrimination, employment relations, recruitment and dismissal with the key aim of ensuring equity...
The basic framework or underlying foundation established in a country or community in which business, industry or other societal functions can develop. This can include transport and other facilities,...
Specific projects or programs undertaken to achieve objectives in the near-term, such as to reduce costs, increase efficiency, or improve sales performance.
The outlay of a sum of money to be used in such a way (e.g. for the purchase of shares, property or equipment) that a profit or increase in capital may be expected.
A standard specifying the actual requirements for an environmental management system. It applies to those environmental aspects which the organisation controls and over which it can be expected to have...
Two or more companies who form a partnership to provide a product or service, usually resulting in the establishment of a separate company. They occur as a result of the clear synergy the two businesses...
Where an individual, a group of people or an organisation applies pressure on another person, organisation or government to bring about change on a particular issue, behaviour or law.
The value of the company on the stockmarket, expressed in dollars, after multiplying current share price by the number of shares in issue. See also, capital markets, listed company, public company
The range of activities that relate to identifying, anticipating and satisfying customer needs (profitably) by means of standard tools such as market research and promotion. See also, marketing strategy,...
Term used to emphasise the importance of mixing or blending various factors such as product, price, placement and promotion to achieve marketing objectives.
Marketing mix is generally accepted as...
Term used to emphasise the importance of mixing or blending various factors such as product, price, placement and promotion to achieve marketing objectives.
The share or percentage of the market a business has based on sales revenue. Can also relate to the how the business wants the product or brand to be viewed by the market. See also, market leader
A marketing plan designed to achieve marketing objectives; long-term plans designed to enable an organisation to identify and meet the wants and needs of its customers. See also, marketing
Buildings that are constructed in a factory-controlled environment away from the building site. Modules are then linked together to form multi-purpose buildings
A small, narrowly defined section of a market. The needs of this market are usually met by innovative companies with specialist services and activities.
A measurement where a business works to achieve the best use of resources in production process involving the lowest possible cost and using the minimum quantities of resources.
The day-to-day management of systems or processes that create goods and/or provide services and which contributes to the achievement of short-term aims or objectives. See also, operations
The integration of processes from around a business, implemented by an organisation, in order to satisfy and implement customers' needs. See also, operational management
A type of loan that allows the account holder to withdraw more funds, up to a specified amount, than what is actually held in the account. Interest is paid on the amount overdrawn.
Pay As You Go Taxation. The type of tax paid by most wage and salary earners whereby tax is taken straight from an employee's salary before they get it.
Attitudes, values and beliefs in an organisation that have a strong emphasis on results and performance. Rewards provided are based on levels of performance achieved.
The combined marketing strategies that result in how the organisation wants a product ot brand to be perceived by the market. Positioning is directly related to brand values, market demographics and the...
The broad range of characteristics that make up the total product in addition to the obvious use to the consumer. These include reputation, convenience and back up support.
When an advertiser pays to have their products directly placed into the television program along with other platforms such as online integration and billboards, in addition to the traditional commercial...
Placing an advertiser's product directly into a television show where viewers at home can see the products during the show (and sometimes used by the characters on the show).
Recognises that manufacturers, retailers, government and consumers share a responsibility to manage the impacts of products throughout their lifecycle, including their ultimate disposal.
The methods and disciplines used to define goals, plan and monitor tasks and resources, identify and resolve issues, and control costs and budgets for a specific project.
Making products and services better known through a range of activities. Generally, promotion is communicating with the public in an attempt to influence them toward buying products and/or services.
The range of activities that can be used by management to promote a product. These include advertising, direct marketing, sales promotion and sponsorship.
A company which has an unlimited number of shareholders and is listed on a stock exchange, e.g. the ASX. This allows the public to buy and sell shares in the company. See also, capital markets listed...
A type of limited company (a company in which the liability of members for the company’s debts is limited) whose shares may be offered for sale to the public.
A functional area of management that involves communicating the image and view of the business to a range of stakeholders including employees, the broader community, media, investors and government.
Research based on anecdotal feedback from clients providing information on how and why people make the purchasing decisions they do. Information can usually be collected through surveys, interviews and...
A recognised, and often, certified achievement of a level of quality in the production of a good or provision of a service. Certification is obtained from a quality assurance authority.
A market research technique that attempts to obtain measurable findings from a sample of consumers.The research focuses on measuring and counting facts and the relationships among variables, and seeks...
Organisations or institutions that offer activities designed to improve the competence and ability of individuals to better enable an organisation to meet its objectives. RTOs provide nationally recognised...
The purchasing of products and services perceived to have a positive (or a less negative) influence on the environment or engaging businesses that attempt to effect related positive social changes.
The income generated from sale of goods or services, or any other use of capital or assets, associated with the main operations of an organisation before any costs or expenses are deducted. Revenue...
The systematic research, examination and measurement of the risk associated with different business activities. Allows business to make informed decisions and plans for the future.
The task of managing (or reducing) the risk (chances) involved in the course of business i.e. the chance of loss is effectively reduced. In business, this is using a range of strategies to manage the...
A form of Internet marketing that seeks to promote websites by increasing their visibility in search engine result pages through the use of search engine optimisation, paid placement,contextual advertising,...
Small businesses are generally seen as having between 1- 19 employees and medium-sized businesses up to 250 employees, but definitions can vary slightly
The online tools used to share content, profiles, opinions, media etc, facilitating conversations and interaction online. Includes blogs, message boards, podcasts, bookmarks, wikis, vlogs, networks, communities...
Increases in the wellbeing of the population; a reduction of threats, and increases in social cohesion, protection and enhancement of democratic rights.
Where a business undertakes activities that are seen to not just have benefit for that business (such as adding to shareholder value) but have measurable benefit (or limited negative outcomes) for the...
Activities of business that are seen to not just have benefit for that business (such as adding to shareholder value) but have measurable benefit for the broader society.
A partnership between organisations or an event in which the sponsor (supporter) publicly endorses an activity and ties its reputation with that of the organisation or event being sponsored. See also,...
The rate at which a company turns over staff. A high staff retention level can suggest that employees are satisfied with their current employment arrangements.
A person or group who has an interest in how a business operates or functions. Examples include management, owners, employees, customers, shareholders, the local community and government. See also, stakeholder...
An organisation established under a specific law that mandates certain requirements and obligations. Ownership and control of a statutory authority rest with the government. See also, legislation
A long-term intention developed by management that will affect the activities and actions of the business. These decisions could result in major change. See also, strategy
A payment, generally by the government or a public sector agency, to the producer or consumer of a good or service, intended to encourage its production, to reduce its cost to consumers or increase competitive...
A human resources function whereby an organisation ensures that the successor for a particular role can be found within the organisation, i.e. if an employee leaves, there is someone with the requisite...
Development which meets present community needs without compromising the ability of future generations to achieve their own needs and aspirations. See also, economic sustanability, sustainability, sustainable...
A conscious, deliberate approach undertaken by a company to attract, develop and retain people with the aptitude and abilities to meet current and future organisational needs.
Refers to a situation when employees are able to work from home. Instead of commuting via transport to an actual office, they are able to replace commuting with telecommunication links to their place...
A comprehensive and structured approach to organisational management that seeks to improve the quality of products and services through ongoing refinements in response to continuous feedback.
Underwriting involves measuring risk exposure and determining the premium that needs to be charged to insure that risk. The information used to evaluate the risk will depend upon the type of coverage...
The exchange of an idea between people that serves to promote a service or brand, encouraging the recipient of the idea to also spread the concept to other participants.
Associated with web applications that allow interactive information sharing, user-centred design and collaboration on the internet. A Web 2.0 site allows users to interact with each other. Examples include...
An authoritative report or guide helping readers to understand an issue, solve a problem, or make a decision. White papers are used in two main spheres: government and business-to-business...
A term often used in marketing when customers pass on recommendations about a product or service through conversations. It is often considered to be the best form of promotion of a product.
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