CAT Exam > CAT Notes > CMAT Mock Test Series > Innovation and Entrepreneurship: Important Terms - 4
Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT PDF Download
- Participative Leadership – Participative leadership is a style of leadership in which all members of the organization work together to make decisions. Participative leadership is also known as democratic leadership, as everyone is encouraged to participate.
- Competitive advantage – A competitive advantage is the attribute that allows an organization to outperform its competitors. A competitive advantage may include access to natural resources, such as high-grade ores or a low-cost power source, highly skilled labor, geographic location, high entry barriers, and access to new technology.
- Innovation – It is the process of entrepreneurship which involves the translation of a useful idea into an application which has commercial value.
- Collective bargaining – It is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers’ compensation and rights for workers. The term “collective bargaining” was first used in 1891 by Beatrice Webb, a founder of the field of industrial relations in Britain.
- The break-even point (BEP) – The point at which total cost and total revenue are equal, i.e. “even”. There is no net loss or gain, and one has “broken even”, though opportunity costs have been paid and capital has received the risk-adjusted, expected return. In short, all costs that must be paid are paid, and there is neither profit or loss.
- Opportunity cost – Opportunity cost is the loss or the benefit that could have been enjoyed if the best alternative choice was chosen.
- Angel investor – An individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity. Angel investors usually give support to start-ups at the initial moments (where risks of the start-ups failing are relatively high) and when most investors are not prepared to back them.
- Dumping – A kind of pricing, especially in the context of international trade. It occurs when manufacturers export a product to another country at a price below the normal price with an injuring effect.
- 5 functions of management – Henri Fayol identified 5 functions of management, which he labelled: planning, organizing, commanding, coordinating and controlling.
- Brainstorming – Brainstorming is a group creativity technique by which efforts are made to find a conclusion for a specific problem by gathering a list of ideas spontaneously contributed by its members.
- Free-trade area – A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement. Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and to increase trade of goods and services with each other.
- Special Economic Zone – A special economic zone is an area in which the business and trade laws are different from the rest of the country. SEZs are located within a country’s national borders, and their aims include increased trade balance, employment, increased investment, job creation and effective administration.
- Likert’s management systems – Management styles developed by Rensis Likert in the 1960s. The management systems, established by Likert, include “Exploitative Authoritative (System I), Benevolent Authoritative (System II), Consultative (System III), and Participative (System IV).”
- Planned obsolescence – A policy of planning or designing a product with an artificially limited useful life or a purposely frail design, so that it becomes obsolete after a certain pre-determined period of time upon which it decrementally functions or suddenly ceases to function, or might be perceived as unfashionable.
- TRIPS Agreement – The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international legal agreement between all the member nations of the World Trade Organization (WTO).
- The South Asian Association for Regional Cooperation (SAARC) – Regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.
- The Pac-Man defense – A defensive business strategy used to stave off a hostile takeover, in which a company that is threatened with a hostile takeover “turns the tables” by attempting to acquire its would-be buyer.
- The Organisation for Economic Co-operation and Development (OECD) : An intergovernmental economic organisation with 37 member countries, founded in 1961 to stimulate economic progress and world trade.
- The International Monetary Fund (IMF) – An international financial institution, headquartered in Washington, D.C., consisting of 190 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on the World Bank for its resources. It was formed in July 1944, at the Bretton Woods Conference primarily by the ideas of Harry Dexter White and John Maynard Keynes.
- Kano model – A theory for product development and customer satisfaction developed in the 1980s by Professor Noriaki Kano, which classifies customer preferences into five categories: Must-be Quality, One-dimensional Quality, Attractive Quality, Indifferent Quality, and Reverse Quality.
- Cartel – A group of independent market participants who collude with each other in order to improve their profits and dominate the market. Cartels are usually associations in the same sphere of business, and thus an alliance of rivals. Most jurisdictions consider it anti-competitive behavior. Cartel behavior includes price fixing, bid rigging, and reductions in output.
- Tax haven – A tax haven is a country or place with very low “effective” rates of taxation for foreign investors. In some traditional definitions, a tax haven also offers financial secrecy.
- Too big to fail – The “too big to fail” (TBTF) theory asserts that certain corporations, particularly financial institutions, are so large and so interconnected that their failure would be disastrous to the greater economic system, and that they therefore must be supported by governments when they face potential failure.
- Disruptive innovation – In business theory, a disruptive innovation is an innovation that creates a new market and value network and eventually disrupts an existing market and value network, displacing established market-leading firms, products, and alliances.
- Sweat equity – Sweat equity is a non-monetary benefit that a company’s stakeholders give in labor and time, rather than a monetary contribution, that benefit the company. Sweat equity is rewarded in the form of sweat equity shares. These are shares given out by a company in exchange for labor and time rather than a monetary amount.
The document Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT is a part of the CAT Course CMAT Mock Test Series.
All you need of CAT at this link: CAT
|
18 videos|55 docs|26 tests
|
Related Exams
About this Document
|
Nov 06, 2024 Last updated |
Document Description: Innovation and Entrepreneurship: Important Terms - 4 for CAT 2024 is part of CMAT Mock Test Series preparation.
The notes and questions for Innovation and Entrepreneurship: Important Terms - 4 have been prepared according to the CAT exam syllabus. Information about Innovation and Entrepreneurship: Important Terms - 4 covers topics
like and Innovation and Entrepreneurship: Important Terms - 4 Example, for CAT 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises and tests below for Innovation and Entrepreneurship: Important Terms - 4.
Introduction of Innovation and Entrepreneurship: Important Terms - 4 in English is available as part of our CMAT Mock Test Series
for CAT & Innovation and Entrepreneurship: Important Terms - 4 in Hindi for CMAT Mock Test Series course.
Download more important topics related with notes, lectures and mock test series for CAT
Exam by signing up for free. CAT: Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT
Description
Full syllabus notes, lecture & questions for Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT - CAT | Plus excerises question with solution to help you revise complete syllabus for CMAT Mock Test Series | Best notes, free PDF download
Information about Innovation and Entrepreneurship: Important Terms - 4
In this doc you can find the meaning of Innovation and Entrepreneurship: Important Terms - 4 defined & explained in the simplest way possible. Besides explaining types of
Innovation and Entrepreneurship: Important Terms - 4 theory, EduRev gives you an ample number of questions to practice Innovation and Entrepreneurship: Important Terms - 4 tests, examples and also practice CAT
tests
|
Explore Courses for CAT exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Summary
,Exam
,past year papers
,ppt
,study material
,Free
,Viva Questions
,Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT
,Previous Year Questions with Solutions
,Sample Paper
,Semester Notes
,Objective type Questions
,mock tests for examination
,video lectures
,Important questions
,Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT
,practice quizzes
,Innovation and Entrepreneurship: Important Terms - 4 | CMAT Mock Test Series - CAT
,MCQs
,shortcuts and tricks
,Extra Questions
;
Additional Information about Innovation and Entrepreneurship: Important Terms - 4 for CAT Preparation
Innovation and Entrepreneurship: Important Terms - 4 Free PDF Download
The Innovation and Entrepreneurship: Important Terms - 4 is an invaluable resource that delves deep into the core of the CAT exam.
These study notes are curated by experts and cover all the essential topics and concepts, making your preparation more efficient and effective.
With the help of these notes, you can grasp complex subjects quickly, revise important points easily,
and reinforce your understanding of key concepts. The study notes are presented in a concise and easy-to-understand manner,
allowing you to optimize your learning process. Whether you're looking for best-recommended books, sample papers, study material,
or toppers' notes, this PDF has got you covered. Download the Innovation and Entrepreneurship: Important Terms - 4 now and kickstart your journey towards success in the CAT exam.
Importance of Innovation and Entrepreneurship: Important Terms - 4
The importance of Innovation and Entrepreneurship: Important Terms - 4 cannot be overstated, especially for CAT aspirants.
This document holds the key to success in the CAT exam.
It offers a detailed understanding of the concept, providing invaluable insights into the topic.
By knowing the concepts well in advance, students can plan their preparation effectively.
Utilize this indispensable guide for a well-rounded preparation and achieve your desired results.
Innovation and Entrepreneurship: Important Terms - 4 Notes
Innovation and Entrepreneurship: Important Terms - 4 Notes offer in-depth insights into the specific topic to help you master it with ease.
This comprehensive document covers all aspects related to Innovation and Entrepreneurship: Important Terms - 4.
It includes detailed information about the exam syllabus, recommended books, and study materials for a well-rounded preparation.
Practice papers and question papers enable you to assess your progress effectively.
Additionally, the paper analysis provides valuable tips for tackling the exam strategically.
Access to Toppers' notes gives you an edge in understanding complex concepts.
Whether you're a beginner or aiming for advanced proficiency, Innovation and Entrepreneurship: Important Terms - 4 Notes on EduRev are your ultimate resource for success.
Innovation and Entrepreneurship: Important Terms - 4 CAT Questions
The "Innovation and Entrepreneurship: Important Terms - 4 CAT Questions" guide is a valuable resource for all aspiring students preparing for the
CAT exam. It focuses on providing a wide range of practice questions to help students gauge
their understanding of the exam topics. These questions cover the entire syllabus, ensuring comprehensive preparation.
The guide includes previous years' question papers for students to familiarize themselves with the exam's format and difficulty level.
Additionally, it offers subject-specific question banks, allowing students to focus on weak areas and improve their performance.
Study Innovation and Entrepreneurship: Important Terms - 4 on the App
Students of CAT can study Innovation and Entrepreneurship: Important Terms - 4 alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Innovation and Entrepreneurship: Important Terms - 4,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Innovation and Entrepreneurship: Important Terms - 4 is prepared as per the latest CAT syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup