An Overview of the External Environment: Further Exploration (VCE SSCE Business Management): Flashcards

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An Overview of the External Environment: Further Exploration
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Technological development definition

Innovations & improvements in tech that assist business work

Avg cost of cybercrime per incident in Australia

Nearly $300,000

Overseas competitors definition

Businesses not based in Australia competing with Aust. businesses

Offshoring definition

Work done in another country (e.g., maintenance in Hong Kong)

Exchange rates definition

Value of a currency against another

Impact of strong Australian dollar on exports

Exports become more expensive, potentially reducing sales

Patent definition

Right for new, inventive, useful device/substance/method/process

Copyright protection duration

70 years from the year of the author's death

Trademark definition

Protection that legally prevents others using business reputation

Corporate social responsibility (CSR) definition

Business conducts ethically, takes responsibility for impacts

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