Subject specific vocabulary

What is the definition of short-termism?

A focus on immediate results and short term gains without considering long-term consequences or sustainable growth strategies

What is the definition of strategy?

A plan or course of action designed to achieve long-term goals or objectives, often. involving analysis, decision making and resource allocation

What is the definition of tactics?

Specific actions implemented to achieve short-term objectives within the broader framework of a strategy

What is the definition of SWOT analysis?

An assessment tool used to identify a business’s strength, weaknesses, opportunities and threats, providing insights for strategic planning and decision-making

What is the definition of core competencies?

Unique capabilities or strengths that differentiate a business from its competitors and contribute to its competitive advantage

What is the definition of regulator?

A governmental or non-governmental entity responsible for overseeing and enforcing rules, regulations and standards within a particular industry or sector

What is the definition of infrastructure?

The physical and organisational structures,facilities and systems necessary for the operation of a society or enterprise, including transportation,communication and utilities

What is the definition of fiscal policy?

Government policies related to taxation,spending and borrowing and aimed at influencing economic conditions, such as inflation, unemployment and economic growth

What is the definition of monetary policy?

Government policies related to the control and regulation of money supply, interest rates and credit conditions, often implemented by central banks to influence economic activity and stabilise financial markets

What is open trade?

A policy of unrestricted international trade and commerce, promoting the free flow of goods, services and capital across borders without barriers or tariffs

What is the definition of protectionism?

A policy of imposing restriction, tariffs or trade barriers to protect domestic industries from foreign competition, often motivated by concerns about job loss or economic sovereignty

What is migration?

The movement of people from one place to another, either within a country or across international borders

What is the definition of corporate social responsibility?

The ethical and voluntary commitment of businesses to contribute to the well-being of society and the environment, beyond legal obligation