An oligopoly is a market structure characterized by a small number of large firms that dominate the market. The main feature of an oligopoly is that there is intense competition among the firms. The firms in an oligopoly are interdependent, meaning that each firm takes into account the decisions of its rivals when making decisions … Read more
A partnership is a formal arrangement between two or more individuals or organizations to cooperate on a project or business venture. Partnerships are usually formed to exploit complementary skills and resources, and to expand market reach. Each partner shares in the profits and losses of the venture. There are different types of partnership structures, which … Read more
Competition law, also known as antitrust law, is a body of laws that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. Competition law is implemented through public and private enforcement. Competition law is known as antitrust law in the United States for historical reasons, and as anti-monopoly law in China … Read more
The term GAFA (the big four) is used to refer to the four largest technology companies in the world: Google, Amazon, Facebook, and Apple. These companies are all leaders in their respective fields, and their combined market value is over $3 trillion. GAFA is often used in the context of discussing the potential risks and … Read more
The Public Relations Society of America (PRSA) is a professional organization for public relations practitioners. The PRSA Code of Ethics is a set of ethical principles that guide the professional conduct of PRSA members. The Code of Ethics is intended to serve as a guide for PRSA members as they perform their professional duties. The … Read more
Metadata security refers to the security of data that describes other data. Metadata is often used to describe the structure and content of data, and can include information such as the data’s owner, creation date, and access permissions. Metadata security is important because it can be used to control access to data, and to track … Read more
The term “Unknown unknown” refers to risks that are not known to us, and which we may not even be aware of. These are the risks that can catch us by surprise and which can have a major impact on our organisation. Unknown unknowns can be particularly dangerous because they can lead to serious problems … Read more
BS 10012:2009 (British Standard 10012:2009) is a standard for implementing a personal data management system (PDMS). The standard provides a framework for organizations to manage personal data in a way that is consistent with data protection legislation. The standard is based on the ISO/IEC 27001:2013 standard for information security management systems. BS 10012:2009 was developed … Read more
The term “business sustainability” refers to the ability of a business to continue operating indefinitely without causing negative environmental or social impacts. To be sustainable, a business must be able to meet its financial obligations, have a positive impact on the environment, and create social and economic value for its employees, customers, and other stakeholders. … Read more
An accounting error is a mistake in the recording, classification, or summarization of financial transactions. Such errors can occur in either the personal finance or corporate finance realm. In personal finance, accounting errors are often made by individuals when they are preparing their own tax returns. Common examples include incorrectly calculating the amount of taxes … Read more
