Created in 2009, it is a digital currency that is completely decentralized. Facilitates payments by using peer-to-peer technology and can be used on the internet or in brick and mortar stores. It is considered a type of crypto-currency because it uses cryptography for security, making it extremely difficult to counterfeit.
Why Is It Important? Bitcoin has been changing the way people purchase items. However, the only caveat is that the acceptance of Bitcoins is purely voluntary. Bitcoin has been in the news a lot recently due to its highly fluctuating market value in 2013, reaching its peak of $1,200 per coin and then dropping 50% shortly after to $572 per coin after the Chinese Central Bank created regulations regarding the use of Bitcoins. Bitcoin's popularity and value thrives on its growing acceptance. Recently, Overstock.com announced that they would consider accepting Bitcoins in 2014. There's also been some concern that Bitcoin is being used for illegal activities such as gambling because of its unique decentralized market. Overall, Bitcoin has the potential to be a big game changer for some industries and economies. As a result, many governments and companies are keeping a close eye on its development and acceptance.
1. Marketing: A characteristic or feature of a product that is thought to appeal to customers. Attributes usually represent a manufacturer's or a seller's perspective and not necessarily that of a customer. Attributes of instant coffee, for example, may include its aroma, flavor, color, caffeine content, packaging and presentation, price, shelf-life, source, etc. Attributes have only two possible ratings (negative or positive) expressed as acceptable or unacceptable, desirable or undesirable, good or bad, etc. 2. Engineering: A visual but nondimensional characteristic that is quantified by applying a numerical scale (such as Likert Scale) between the two extreme values, such as acceptable-not acceptable, good-bad, or satisfactory-unsatisfactory. 3. Statistics: A characteristic of a system for which ...
Exact statement of the particular needs to be satisfied, or essential characteristics that a customer requires (in a good, material, method, process, service, system, or work) and which a vendor must deliver. Specifications are written usually in a manner that enables both parties (and/or an independent certifier) to measure the degree of conformance. They are, however, not the same as control limits (which allow fluctuations within a range), and conformance to them does not necessarily mean quality (which is a predictable degree of dependability and uniformity). Specifications are divided generally into two main categories: (1) Performance specifications: conform to known customer requirements such as keeping a room's temperature within a ...
A means of connecting a computer to any other computer anywhere in the world via dedicated routers and servers. When two computers are connected over the Internet, they can send and receive all kinds of information such as text, graphics, voice, video, and computer programs. No one owns Internet, although several organizations the world over collaborate in its functioning and development. The high-speed, fiber-optic cables (called backbones) through which the bulk of the Internet data travels are owned by telephone companies in their respective countries. The Internet grew out of the Advanced Research Projects Agency's Wide Area Network (then called ARPANET) established by the ...
An individual who is in charge of a certain group of tasks, or a certain subset of a company. A manager often has a staff of people who report to him or her. As an example, a restaurant will often have a front-of-house manager who helps the patrons, and supervises the hosts; or a specific office project can have a manager, known simply as the project manager. Certain departments within a company designate their managers to be line managers, while others are known as staff managers, depending upon the function of the department.
Brief condensation, outline, or summary of the main points of an articles, book, or plan. Unlike an abstract, a synopsis maintains the point by point sequence of the salient ideas.
The theories, principles, and models that deal with how the market process works. It attempts to explain how wealth is created and distributed in communities, how people allocate resources that are scarce and have many alternative uses, and other such matters that arise in dealing with human wants and their satisfaction.
1. Communication channels through which news, entertainment, education, data, or promotional messages are disseminated. Media includes every broadcasting and narrowcasting medium such as newspapers, magazines, TV, radio, billboards, direct mail, telephone, fax, and internet. Media is the plural of medium and can take a plural or singular verb, depending on the sense intended. 2. Data storage material divided into three broad categories according to the recording method: (1) Magnetic, such as diskettes, disks, tapes, (2) Optical, such as microfiche, and (3) Magneto-Optical, such as CDs and DVDs.
1. Social condition that affects a society because of the elevated number of individuals striving to be wealthy. People within the society feel that the only measure of success is determined by how much money and prestige a person has. 2. A social theory claiming that individuals with very privileged and wealthy backgrounds sometimes struggle to determine the difference between right and wrong due to the nature of their upbringing. Also known as sudden-wealth syndrome.
Why It is Important: The term affluenza has been in the news a lot recently after 16-year-old Ethan Couch received a punishment of 10-years probation for killing four and injuring several more while driving intoxicated. Affluenza became a topic of great discussion because Couch's lawyers used it as the main argument for his defense. The term was first coined by Jessie H. O'Neill in her book "The Golden Ghetto: The Psychology of Affluence" in 1997. If you want more information regarding this court case
1. A valuable action, deed, or effort performed to satisfy a need or to fulfill a demand. 2. Law: Formal delivery of a notice, summons, or writ. 3. Banking: Payment of interest or loan installment, or dividends, as scheduled.
1. General: Formal and voluntary transfer of possession by actual (physical) delivery, constructive delivery (by an agreement or understanding), or symbolic delivery (by documents) Also called presentation or presentment. 2. Futures trading: Transfer of a cash commodity from the seller of a futures contract to its buyer, in accordance with the rules of a particular futures exchange. 3. Real estate: Final, unconditional, and absolute transfer of the deed to the buyer (the grantee) in such manner that it cannot be recalled by the seller (the grantor). Even a properly executed deed normally does not pass title until it is delivered to the grantee. See also livery. 4. Shipping: Transfer of a shipment's copy of the bill of ...
Result of one number or quantity divided by another. Ratios are the simplest mathematical (statistical) tools that reveal significant relationships hidden in mass of data, and allow meaningful comparisons. Some ratios are expressed as fractions or decimals, and some as percentages. Major types of business ratios include (1) Efficiency, (2) Liquidity, (3) Profitability, and (4) Solvency ratios.
The obligation of an individual or organization to account for its activities, accept responsibility for them, and to disclose the results in a transparent manner. It also includes the responsibility for money or other entrusted property.
Free market system in which decisions regarding resource allocation, production, and consumption, and price levels and competition, are made by the collective actions of individuals or organizations seeking their own advantage. In all market economies, however, freedom of the markets is limited and governments intervene occasionally to encourage or dampen demand or to promote competition to thwart the emergence of monopolies. Also called free economy, free market, or free market economy. See also open economy.
A group of people with a full set of complementary skills required to complete a task, job, or project. Team members (1) operate with a high degree of interdependence, (2) share authority and responsibility for self-management, (3) are accountable for the collective performance, and (4) work toward a common goal and shared rewards(s). A team becomes more than just a collection of people when a strong sense of mutual commitment creates synergy, thus generating performance greater than the sum of the performance of its individual members.
Conduct of legal proceedings strictly according to established principles and procedures, laid down to ensure fair trial for every accused. Because the infallibility of court judgments cannot be guaranteed, the legal system aims to secure this second-best but possible option. The guaranty of due process means no accused is punished without an orderly and adequate procedure that is applicable uniformly in all cases. Under a due process, every accused gets an advance notice of trial, and an opportunity to be present, to be heard, and to defend himself or herself. It also includes the rights to (1) legal counsel, (2) confront and cross examine the witnesses, (3) refuse self-incriminating testimony, and (4) have a crime proven by proof beyond a ...
Money spent or cost incurred in an organization's efforts to generate revenue, representing the cost of doing business. Expenses may be in the form of actual cash payments (such as wages and salaries), a computed expired portion (depreciation) of an asset, or an amount taken out of earnings (such as bad debts). Expenses are summarized and charged in the income statement as deductions from the income before assessing income tax. Whereas all expenses are costs, not all costs (such as those incurred in acquisition of income generating assets) are expenses.
Study of both quantitative and qualitative aspects of human population. Quantitative aspects include composition, density, distribution, growth, movement, size, and structure of the population. Qualitative aspects are the sociological factors such as education quality, crime, development, diet and nutrition, race, social class, wealth, well being.
A standard by which something can be judged or decided. In a typical context, there is more than one criterion under consideration and thus the plural critieria' is more commonly encountered.
Refers to the first Monday following the Thanksgiving Holiday weekend, and is considered a prime shopping day for online shoppers and retailers. Following Black Friday, retailers offer a number of specials that are only available to online shoppers. Free shipping is often offered as an incentive for purchases made on Cyber Monday.
Why Is It Important? The term Cyber Monday was coined in 2005 to draw customers to retailer's e-commerce sites and keep the shopping momentum up after Black Friday. Cyber Monday has become one of the biggest shopping days of the year. While Black Friday involves shopping in physical stores, the shopping is primarily online during Cyber Monday. Many people find Cyber Monday to be more convenient than Black Friday because they can do all their shopping from the convenience of their home. For more information on Cyber Monday, check out the links below:
What to Buy on Cyber Monday Is This the Biggest Year for Cyber Monday Yet?
A value that will purchase a finite quantity, weight, or other measure of a good or service. As the consideration given in exchange for transfer of ownership, price forms the essential basis of commercial transactions. It may be fixed by a contract, left to be determined by an agreed upon formula at a future date, or discovered or negotiated during the course of dealings between the parties involved. In commerce, price is determined by what (1) a buyer is willing to pay, (2) a seller is willing to accept, and (3) the competition is allowing to be charged. With product, promotion, and place of marketing mix, it is one of the business variables over which organizations can exercise some degree of control. It is a...
1. Resource consumed or lost in completing a process, that does not contribute directly to the end-product. Also called burden cost. 2. Accounting: A cost or expense (such as for administration, insurance, rent, and utility charges) that (1) relates to an operation or the companyas a whole, (2) does not become an integral part of a good or service (unlike raw material or direct labor), and (3) cannot be applied or traced to any specific unit of output. Overheads are indirect costs. 3. Data communications: Data bits added to user-transmitted data, for carrying routing information and error correcting and operational instructions. 4. Utilities: Energy or water lost during delivery from the generating or production plant to the end user.
1. General: Failure to do something required by an agreement, in the performance of a duty, or under a law. 2. Borrowing: Failure to meet the terms of a loan agreement. Its two types are (1) Fiscal: Failure to make repayment on the due date. Generally, if a payment is 30 days overdue, the loan is in default. (2) Covenantal: Failure to live up to one or more covenants of the loan agreement such as exceeding the prescribed total borrowings. 3. Computing: Attribute, option, or value assumed by a computer when a user has not chosen or supplied any. Computer's choice is based on how the elements of a software or the settings of a hardware have been arranged by the manufacturer, or customized by the user. 4. Contractual: Failure to comply with the terms of a ...
An amount spent to acquire or upgrade productive assets (such as buildings, machinery and equipment, vehicles) in order to increase the capacity or efficiency of a company for more than one accounting period. Also called capital spending.
The aggregate of all human physical and mental effort used in creation of goods and services. Labor is a primary factor of production. The size of a nation's labor force is determined by the size of its adult population, and the extent to which the adults are either working or are prepared to offer their labor for wages.
The wealth of knowledge acquired by an individual after studying particular subject matters or experiencing life lessons that provide an understanding of something. Education requires instruction of some sort from an individual or composed literature. The most common forms of education result from years of schooling that incorporates studies of a variety of subjects. "Jamie knew the importance of an education, so she chose to go to a four-year university after graduating from high school."
The process of wealthier residents moving to an area, and the changes that occur due to the influx of wealth. As wealthier inhabitants move into an area that is already populated with lower-income residents, the neighborhood begins to change as well. Often this will spark an urban renewal process, which cleans up the town, but often leads to an increase in rent, taxes, and other items. Sometimes this change means that the previous residents can no longer afford to live in that neighborhood, which is why gentrification can sometimes be used in a negative context. However, many good changes also historically accompany gentrification, such as decreased crime rates and increased economic activity.
1. The control of development by a local authority, through regulation and licensing for land use changes and building. 2. A basic management function involving formulation of one or more detailed plans to achieve optimum balance of needs or demands with the available resources. The planning process (1) identifies the goals or objectives to be achieved, (2) formulates strategies to achieve them, (3) arranges or creates the means required, and (4) implements, directs, and monitors all steps in their proper sequence.
1. General: Agreement, contract, exchange, understanding, or transfer of cash or property that occurs between two or more parties and establishes a legal obligation. Also called booking or reservation. 2. Accounting: Event that effects a change in the asset, liability, or net worth account. Transactions are recorded first in journal and then posted to a ledger. 3. Banking: Activity affecting a bank account and performed by the account holder or at his or her request. 4. Commerce: Exchange of goods or services between a buyer and a seller. Every transaction has three components: (1) transfer of good/service and money, (2) transfer of title which may or may not be accompanied by a transfer of possession, and (3) transfer of exchange rights. 5. Computing: Event or process (such as an input ...
Ongoing conspiratorial enterprise engaged in illicit activities as a means of generating income (as black money). Structured like a business into a pyramid shaped hierarchy, it freely employs violence and bribery to maintain its operations, threats of grievous retribution (including murder) to maintain internal and external control, and thuggery and contribution to election campaigns to buy political patronage for immunity from exposure and prosecution. Its activities include credit card fraud, gun running, illegal gambling, insurance fraud, kidnapping for ransom, narcotics trade, pornography, prostitution, racketeering, smuggling, vehicle theft, etc. With the arrival of international terrorism (with which it often has symbiotic ...
** رشته مديريت در کشور ما داراي شاخه هاي متعددي مي باشد که از آن جمله مي توان به مديريت بازرگاني، صنعتي، دولتي، جهانگردي، بيمه، بيمه اکو، امورگمرکي و امور بانکي اشاره کرد و همچنين از شاخه هاي تخصصي تري مثل مديريت کميسارياي دريايي يا اداره امور بيمارستانها نام برد. *** مديريت هنر كار كردن با ديگران است نه وسيله قرار دادن ديگران با تشکر
