Chapter 13 Key terms glossary
competitive advantage the strategies used by a business to gain an ‘edge’ over its competitors
e-business (electronic business) using the internet to conduct business
e-commerce the buying and selling of goods and services via the internet
leasing a long-term source of borrowing for businesses. It involves the payment of money for the
use of equipment that is owned by another party.
skills audit a process that establishes the current skills levels of employees and future skills
requirements.
skills inventory a database containing information on the skills, abilities and qualifications of existing
staff
© John Wiley & Sons Australia, Ltd
1