Bandwidth is a term that refers to the maximum rate of data transfer across a given path or medium Bandwidth is measured in bits per second (bps) or its multiples, such as kilobits per second (Kbps), megabits per second (Mbps), or gigabits per second (Gbps). Bandwidth can be characterized as network bandwidth, data bandwidth, or…
Category: Definitions
Most common business terminologies
Core Competency
Core competency is a term that refers to the capabilities, knowledge, skills and resources that constitute the defining strength of an organization or an individual12. Core competency is what sets a business or a person apart from their competitors and gives them a competitive advantage in their industry or sector23. Core competency is not easily replicated…
Responsive Design
Responsive design is a web design approach that uses flexible layouts to ensure that a website or app looks good and functions well on a variety of devices, including desktops, laptops, tablets, and smartphones. Responsive design is achieved by using CSS3 media queries to change the layout of a website or app depending on the…
Scalable
Scalable means that something can be increased in size or volume without sacrificing its efficiency or effectiveness. In the context of business, scalability refers to the ability of a company to increase its output or revenue without having to make significant changes to its infrastructure or operations. There are two main types of scalability: horizontal…
Business-to-Government
Business-to-government (B2G) is a type of e-commerce that involves the sale of goods and services between businesses and government agencies. B2G transactions can take place in a variety of ways, including through online marketplaces, direct sales, and trade shows. B2G transactions are often more complex than B2C transactions, as they involve multiple parties and multiple…
B2C:Business-to-Consumer
Business-to-consumer (B2C) describes the sale of goods and services directly to consumers, rather than to businesses. B2C transactions can take place in a variety of ways, including through online marketplaces, direct sales, and brick-and-mortar stores. B2C transactions are often more straightforward than B2B transactions, as they typically involve a single buyer and a single seller….
B2B: Business-to-Business
Business-to-business (B2B) describes the sale of goods and services between businesses, rather than between businesses and consumers. B2B transactions can take place in a variety of ways, including through online marketplaces, direct sales, and trade shows. B2B transactions are often more complex than B2C transactions, as they involve multiple parties and multiple decision-makers. B2B transactions…
Research and Development
Research and development (R&D) is the process of creating new knowledge, products, services, or processes. It is a systematic approach to innovation that involves the following steps: R&D is a complex and time-consuming process, but it is essential for the development of new products, services, and technologies. It is also a risky process, as not…
Performance Review
A performance review is a formal assessment of an employee’s work performance, conducted by their manager. The purpose of a performance review is to provide feedback to the employee on their strengths and weaknesses, and to set goals for their future performance. Performance reviews are typically conducted once per year, but they can be conducted…
Metrics
A metric is a quantifiable measure that is used to track, compare, and assess performance or production. Metrics are used in a variety of scenarios, including business, finance, and healthcare. In business, metrics are used to track the performance of a company or organization. For example, a company might track metrics such as sales, customer…
Key Performance Indicators (KPIs)
Key Performance Indicators (KPIs) are measurable values that organizations use to track their progress against their goals. KPIs can be used to measure a variety of things, including sales, customer satisfaction, employee productivity, and financial performance. KPIs are important because they provide organizations with a way to measure their performance and identify areas where they…
SWOT
SWOT analysis is a strategic planning tool that identifies an organization’s Strengths, Weaknesses, Opportunities, and Threats. It is a structured planning method that helps organizations to identify their strengths and weaknesses, as well as the opportunities and threats they face. SWOT analysis can be used to develop strategies for improving an organization’s performance, or for…