DBA • Digital Business Applications
Electronic Mail - Known as E-mail, a way of sending mail instantly and electronically
Etiquette - Code of behavior that defines expectations for social behavior
Search Engine - A search engine is software accessed on the Internet that searches a database of information according to the user's query.
Social Media Application - A media to inform, educate, and entertain people through posts, blogs, music, etc.
Social Networking Application - Allows users to create profiles for sharing information and to designate friends or other users who can see it.
Wikis - Collection of searchable, linked web pages that one or more users can edit or create collaboratively.
Application Software - An "app" is designed to help the user perform singular or multiple related specific tasks.
Authentication - When a browser sends your username and password to the application to check if the credentials are correct
Blogosphere - The online community of all bloggers and their blogs
Blogs - Function as online journals, containing a collection of posts
Cloud Computing - Describes how applications are stored and deployed on a network of Internet servers
Corporate Blog - Communicate information about the company to their customers
Freeware - The computer software that is available to use at no cost or an optional fee, but usually with one or more restricted usage rights
Hashtag - used to find related posts when searching on Twitter
Retweets - forwarded messages sent by Twitter
Tweet - message sent on Twitter
Acceptable Use Policy - A set of rules by the owner of a network, website, or large computer system that restricts the ways the (network, website, or large computer system) may be used.
Fair Use - The conditions under which you can use a material that is copyrighted by someone else without paying royalties.
Business Ethics - The application of ethical standards to business behavior
Copyright - Method of protecting the rights of an originator of a creative work
Society - A structured community of people bound together by similar traditions and customs.
Podcast - A personal on-demand broadcast via the internet, distributed as audio or video
Podcast Reader Application - Used to subscribe to a podcast series
Podcast Reader - Simplifies the process of checking to see if the podcast you are subscribed to has new content
Speech Recognition Technology - Converts spoken words into text
Telecommuting - employment from a remote or offsite location while still communicating with the workplace
Culture - A particular set of attitudes, beliefs, and practices that characterize a group of individuals
FERPA - (Federal Educational Rights and Privacy Act) protects the privacy of student education records
Compressed Image Format - reduces the file size with only negligible loss of image quality
Image Editing Software - programs designed to edit manipulate, edit or modify digital photographs
Upload - Sending data from a local system to a remote system such as a system
Customs - Practices followed by people of a particular group or region
RSS - (Really Simple Syndication) most popular type of Web feeds for syndicating updated Web Content
RSS feed - contains a summary of information about a blog or website and lists items that are being syndicated
SMS - Short Message Service, a system that enables cell phones to send and receive texts
MMS - Multimedia Messaging Service, a system that enables cell phones to send and receive pictures, sound clips, and also text messages.
Geotag - Contains the latitude and longitude coordinates of where a photo was taken in order to plot it on the map
GPS - Global Positioning System
Electronic Portfolio - A collection of electronic evidence assembled and managed by a user, usually on the web
Scarcity - When something is both desired and limited in supply.
Factors of Production (human resources, natural resources, capital resources, entrepreneurship) - The inputs that are used in the production of goods or services.
Goods and Services - A good is a tangible product; where as a service is an intangible product and used for support.
Wants and Needs - Someone would die without their needs being met. People need food, water, and shelter. A want is something that people prefer or desire.
Opportunity Costs and Trade-offs - Every choice involves tradeoffs, and opportunity cost shows you how to measure these tradeoffs. It is the value of the next best alternative.
Production Possibilities Curve - A curve on a graph which shows different combinations of two goods that an economy can produce using certain resources during a specified time.
Three (3) Basic Economic Questions and how different economic systems will answer them. 1) What outputs will be produced? 2) How will the outputs be produced? 3) Who will the outputs be produced for?
Traditional, Command, Market, and Mixed Economic Systems - The method in which the government influences or ignores economics.
Circular Flow - An economic model which shows how resources, money, credit, and goods and services flow within a society.
Voluntary Exchange - The process where customers and merchants freely and without coercion engage in market transactions (Neoclassical or mainstream economics).
Law of Supply - As the price of a good or service increases, the quantity of goods or services that suppliers offer will increase, and vice versa.
Law of Demand - The quantity purchased will vary with price. The higher the price, the lower the quantity demanded. The law of demand states there is an inverse relationship between quantity purchased and price.
Incentives - Social norms with financial rewards and punishments
Competition - The four types of competition we discuss in this class are Perfect Competition with Infinite Buyers and Sellers, Monopoly with One Producer, Oligopoly with a Handful of Producers, Monopolistic Competition with Numerous Competitors with unique brands, which are not easily substitutable.
Private Property Rights - The theoretical and legal ownership of resources and how they can be used. These resources can be both tangible or intangible and can be owned by individuals, businesses, and governments.
Equilibrium - A condition or state in which economic forces are balanced. One example is where the supply and the demand curve meet is known as equilibrium or market equilibrium.
Market Clearing Price - The equilibrium monetary value of a traded security, asset, or good. This price is determined by the interaction of supply and demand forces.
Marginal Cost - A measurement used to determine the additional cost incurred in the production of one more unit of a good or service.
Senseilue Vocabulary List
Bourgeoisie (middle class, capitalists)
Brand (identity, shared values)
Ceteris paribus (all other things being equal)
Framework (outline, model, paradigm)
KSA's (knowledge, skills, and abilities)
Meaningful (relevant, measurable)
Monetize (create value $)
Mutate (adapt, evolve)
Narrative (story, history, context)
Neuro- (brain, nerve reaction)
Organic (voluntary, natural)
Quid Pro Quo (this for that)
Relevant (meaningful, measurable)
Transformational (disruptive innovation)
Value Chain (cost+)
Entrepreneurship | Marketing
Customer Acquisition Cost
Life-time Value of the Customer
Entrepreneur (innovator, one who takes risk in hopes of rewards)
Risk (chance of loss or failure)
Franchise (ownership type, proven business plan)
SBA (U.S. Small Business Administration)
Lean Canvas Model (business plan summary to fail fast)
Brainstorming (ideal generation, ideation)
Green entrepreneurship (environmentally driven)
Market segmentation (Target Customer)
Pivoting (Adjust, Evolve)
Minimum viable product (MVP)
Unique value proposition (UVP)
Supply (goods or services produced/offered)
Opportunity cost (cost of next best alternative)
Import (production of goods are outsourced to another country)
Marketing mix (resources deployed to persuade people to do something)
Brick-and-mortar stores (physical location)
Online stores (e-commerce, virtual point-of-transaction)
Market share (share of mind, heart, wallet, percentage of total market)
Promotional mix (blend of advertising or promotional tools used)
Online presence (virtual presence on the Internet)
Digital analytics (key performance indicators or KPIs, metrics)
Start-up costs (cost associated with starting a business)
Variable costs (quantity x cost per unit)
Fixed costs (Contract, Scheduled, Regular)
Break-even point (Total Cost = Total Revenue)
Quantity = fixed costs / (sales price per unit – variable cost per unit)
Crowd funding (Sourcing)
Equity financing (Ownership)
Point of Sale (POS)
Income statement/Profit & Loss statement
Net Income = (Total Revenue + Gains) – (Total Expenses + Losses)
Balance sheet (Statement of Financial Position)
Assets = Liabilities + Owners Equity (OE)
Mission statement (Purpose)
Job descriptions (Roles and Responsibilities)
Sole proprietorship (One)
Business taxes (20%)
Business insurance (Liability)