Rapid improvements in technology combined with the emergence of a new economic system.

A business environment in which consumers choose from relatively few competing producers. The lack of choice generally strengthens the bargaining […]

Behavior that reflects concern, empathy, and consideration for the needs and values of others and a level of responsibility for […]

Delegating tasks to lower-level employees provides them with the experience and skills development needed for potential promotions within the organization.

The often incorrect belief that emulating a successful party’s superficial behaviors will inevitably lead to the same successes.

A group of firms that collude in order to increase their joint profits.

The general ledger account Cash that reports currency, coins, undeposited checks, and the checking accounts of a company. (Could also […]

Cash accounting is an accounting method where payment receipts are recorded during the period in which they are received, and […]

The amount of time between when a business pays for its inventory (cost of goods sold) and receives payment from […]

An offering with extremely high profit margins and very low costs to the producer.