Priorities

Priorities are goals, objectives, activities, etc placed in order of their importance. People prioritize everyday because it is pretty much a part of life. If we didn't prioritize then nothing important would get done and all the things we desire would come first, resulting in little or no (business) production. Priorities are a priority and all items at the top of the list need to be done first.

Objectives

Objectives are goals that are planned with an intended outcome. Objectives are usually achieved within a set time period. Experts believe that objectives are the single most important feature of the planning process. I also believe that this is true for if you don't have any objectives, how can you make any plans?

Planning

Planning is organizing a series of actions to achieve specified results. Plans are usually made when coping with uncertainty but that is not always so. Planning is is done just in case, although plans my not be needed if everything goes well, initially. As we said in class, or as Levi (Wall) said, "no plan survives first contact," which makes sense and is one of many planning quotations/sayings.

Values

Values are abstract ideals that shape one's thinking and behavior. They can be objects, whether physical or abstract, denoting some degree of importance. Values are subjective and vary across different people and cultures. They are also a branch/area of ethics.

Business Ethics

Business ethics is a form of applied ethics that deals with ethical principles that arise in a business environment. It is a practice that can only help the reputation and longevity of any business. More and more consumers and customers are aware of ethical business and are more likely to do business with them. Business ethicism is continually increasing.

Ethics

Ethics is a really broad study of the common concepts, right and wrong. It is considered a major branch of philosophy. Simply living a "good, clean life" is a central aspect in ethics. It is believed my many philosophers to be more important than morality, though they are (practically) the same thing.

Intrapreneur

An intrapreneur is an entrepreneur within his or her company. An intrapreneur is taking less risks than an entrepreneur because they are using their skills and ideas within an already established firm instead of going out on their own. An intrapreneur can be just as important as an entrepreneur. Intrapreneurship is a practice that is increasing regularly.

Technology

Technology is a broad concept dealing with how humans use new knowledge, tools, and crafts to control and adapt to the world we live in. Technology can even help us to do things that was once thought to be impossible. Through the advent of technology, the world is a seemingly smaller place. Technology is a big plus to our kind, but just as everything else, there are cons to technology.

Target Market

A target market pretty much defines itself. For the most part, all companies have a specific target audience that they cater towards. Many companies are now doing what I like to call "multi-marketing". That is, businesses try to focus on many target audiences for more profit and notification.

Business Cycle

The business cycle is the fluctuation of economic activity. It can be predictable but the timing is kind of hard to keep track of. Like right now, we are (practically) in a recession. Though not too long ago, we were enjoying prosperity (expansion).