Anti-competitive practicesAnti-competitive practices are business or government practices that prevent or reduce competition in a market. Antitrust laws ensure businesses do not engage in competitive practices that harm other, usually smaller, businesses or consumers. These laws are formed to promote healthy competition within a free market by limiting the abuse of monopoly power. Competition allows companies to compete in order for products and services to improve; promote innovation; and provide more choices for consumers.
CompetitionCompetition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition. Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources.
Decision-makingIn psychology, decision-making (also spelled decision making and decisionmaking) is regarded as the cognitive process resulting in the selection of a belief or a course of action among several possible alternative options. It could be either rational or irrational. The decision-making process is a reasoning process based on assumptions of values, preferences and beliefs of the decision-maker. Every decision-making process produces a final choice, which may or may not prompt action.
Group decision-makingGroup decision-making (also known as collaborative decision-making or collective decision-making) is a situation faced when individuals collectively make a choice from the alternatives before them. The decision is then no longer attributable to any single individual who is a member of the group. This is because all the individuals and social group processes such as social influence contribute to the outcome. The decisions made by groups are often different from those made by individuals.
Consensus decision-makingConsensus decision-making or consensus process (often abbreviated to consensus) are group decision-making processes in which participants develop and decide on proposals with the aim, or requirement, of acceptance by all. The focus on establishing agreement of at least the majority or the supermajority and avoiding unproductive opinion differentiates consensus from unanimity, which requires all participants to support a decision. The word consensus is Latin meaning "agreement, accord", derived from consentire meaning "feel together".
Formative assessmentFormative assessment, formative evaluation, formative feedback, or assessment for learning, including diagnostic testing, is a range of formal and informal assessment procedures conducted by teachers during the learning process in order to modify teaching and learning activities to improve student attainment. The goal of a formative assessment is to monitor student learning to provide ongoing feedback that can help students identify their strengths and weaknesses and target areas that need work.
InnovationInnovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.
Decision-making softwareDecision-making software (DM software) is software for computer applications that help individuals and organisations make choices and take decisions, typically by ranking, prioritizing or choosing from a number of options. An early example of DM software was described in 1973. Before the advent of the World Wide Web, most DM software was spreadsheet-based, with the first web-based DM software appearing in the mid-1990s. Nowadays, many DM software products (mostly web-based) are available – e.g.
Educational assessmentEducational assessment or educational evaluation is the systematic process of documenting and using empirical data on the knowledge, skill, attitudes, aptitude and beliefs to refine programs and improve student learning. Assessment data can be obtained from directly examining student work to assess the achievement of learning outcomes or can be based on data from which one can make inferences about learning. Assessment is often used interchangeably with test, but not limited to tests.
Open innovationOpen innovation is a term used to promote an information age mindset toward innovation that runs counter to the secrecy and silo mentality of traditional corporate research labs. The benefits and driving forces behind increased openness have been noted and discussed as far back as the 1960s, especially as it pertains to interfirm cooperation in R&D.
BargainingIn the social sciences, bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price or nature of a transaction. If the bargaining produces agreement on terms, the transaction takes place. It is often commonplace in poorer countries, or poorer localities within any specific country. Haggling can mostly be seen within street markets worldwide, wherein there remains no guarantee of the origin and authenticity of available products.
High-definition televisionHigh-definition television (HD or HDTV) describes a television system which provides a substantially higher than the previous generation of technologies. The term has been used since 1936; in more recent times, it refers to the generation following standard-definition television (SDTV), often abbreviated to HDTV or HD-TV. It is the current de facto standard video format used in most broadcasts: terrestrial broadcast television, cable television, satellite television and Blu-ray Discs.
Game theoryGame theory is the study of mathematical models of strategic interactions among rational agents. It has applications in all fields of social science, as well as in logic, systems science and computer science. The concepts of game theory are used extensively in economics as well. The traditional methods of game theory addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by the losses and gains of other participants.
High-definition videoHigh-definition video (HD video) is video of higher resolution and quality than standard-definition. While there is no standardized meaning for high-definition, generally any video image with considerably more than 480 vertical scan lines (North America) or 576 vertical lines (Europe) is considered high-definition. 480 scan lines is generally the minimum even though the majority of systems greatly exceed that. Images of standard resolution captured at rates faster than normal (60 frames/second North America, 50 fps Europe), by a high-speed camera may be considered high-definition in some contexts.
CryptocurrencyA cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities.
CustomerIn sales, commerce, and economics, a customer (sometimes known as a client, buyer, or purchaser) is the recipient of a good, service, product or an idea - obtained from a seller, vendor, or supplier via a financial transaction or exchange for money or some other valuable consideration. Early societies relied on a gift economy based on favours. Later, as commerce developed, less permanent human relations were formed, depending more on transitory needs rather than enduring social desires.
Ultimatum gameThe ultimatum game is a game that has become a popular instrument of economic experiments. An early description is by Nobel laureate John Harsanyi in 1961. One player, the proposer, is endowed with a sum of money. The proposer is tasked with splitting it with another player, the responder (who knows what the total sum is). Once the proposer communicates his decision, the responder may accept it or reject it. If the responder accepts, the money is split per the proposal; if the responder rejects, both players receive nothing.
Customer serviceCustomer service is the assistance and advice provided by a company to those people who buy or use its products or services. Each industry requires different levels of customer service, but towards the end, the idea of a well-performed service is that of increasing revenues. The perception of success of the customer service interactions is dependent on employees "who can adjust themselves to the personality of the customer". Customer service is often practiced in a way that reflects the strategies and values of a firm.
Free contentFree content, libre content, libre information, or free information, is any kind of functional work, work of art, or other creative content that meets the definition of a free cultural work, meaning "works or expressions which can be freely studied, applied, copied and/or modified, by anyone, for any purpose." A free cultural work is, according to the definition of Free Cultural Works, one that has no significant legal restriction on people's freedom to: use the content and benefit from using it, study the content and apply what is learned, make and distribute copies of the content, change and improve the content and distribute these derivative works.
Proprietary softwareProprietary software is software that, according to the free and open-source software community, grants its creator, publisher, or other rightsholder or rightsholder partner a legal monopoly by modern copyright and intellectual property law to exclude the recipient from freely sharing the software or modifying it, and—in some cases, as is the case with some patent-encumbered and EULA-bound software—from making use of the software on their own, thereby restricting their freedoms.
