glencoe entrepreneurship and small business management chapter 3 vocabulary

online business
A company that conducts business by means of the internet.
services
Activities that are consumed at the same time they are produced
outsourcing
A decision by a corporation to turn over much of the responsibility for production to independent suppliers.
strategic alliance
A long-term partnership between two or more companies established to help each company build competitive market advantages
corporate venture
A new venture started inside a larger corporation.
innovation
An improvement of an existing technological product, system, or method of doing something.
niche
small specialized market
brainstorm
think freely to generate ideas
demographics
Characteristics such as age, sex, income, location, education, and religion
trade magazine
periodicals published for specific types of businesses or industries
specialty magazine
consumer magazines that focus on a particular area of interest
trade show
exhibitions where companies associated with an industry gather to showcase their products
values
An individual’s beliefs about what is important, desirable, and worthwhile, which often influence decisions.
goodwill
the favor and loyalty a business acquires by its good reputation
franchise
A legal agreement that gives an individual the right to market a company’s products or services in a particular area.
franchisee
A person who buys a franchise
franchisor
A business that leases its trade name and operating system to another person
business broker
a person who sells businesses for a living