Basic skills; sources of diferential advantage that are part of an organization’s personality; skills, abilities, and knowledge that employees, managers,  and executives must possess to achieve organizational results.

 The quality of being a team player; able and ready to work with others to produce a certain result; helpful and accommodating.

An unshakable belief in something without need for proof or evidence. Young business professionals often fnd it difcult to maintain their convictions during the early years of their careers.

Te activity of managing or exerting control over a subordinate, team, or  organization; directing or determining.

Great skillfulness and knowledge of the business; the power to direct the  management and policies of a business enterprise.

A binding agreement between two or more persons or organizations that is  enforceable by law; a mutually binding and documented agreement between  buyer and seller covering the terms and conditions by which the work must  be completed.

Continuous Improvement
A management process that adopts new activities and eliminates old ones found  to add little or no value, with the goal of increasing efectiveness by reducing  inefciencies and waste while increasing motivation and productivity.

Consumer Goods
 Items that a consumer purchases for personal or household consumption.

Consumer Demand
 What consumers and customers want to spend their money on; can be ana- lyzed by businesses to predict future trends as well as identify current spend- ing habits; how people use their limited means to make purposeful choices.

Consumer Credit
 Credit given by a bank to a borrower for the specifc purpose of purchasing  a consumer good or paying for a personal expense.