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Job description
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A description of the things an employee has to do and what they will be accountable for in their job. See page 199.
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Person specification
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A specification of the criteria on which an employee is to be selected based upon the job description. See page 199.
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Contract of employment
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A legal contract that lays down the terms and conditions of employment. See page 199.
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Shareholders’ agreement
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An agreement binding those shareholders who sign it to the terms it contains. See page 200.
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Sweat equity
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The shared ownership of the management team based upon the time and effort they put in to launch the business. See page 199.
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Shared cognition
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The shared goals of partners. See page 200.
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Social networks and media
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This term covers any communication hosted on the internet or on smartphones, such as texting, tweeting or blogging. It includes social networking sites such as Facebook, Twitter, YouTube, etc. See page 209.
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Guerrilla marketing
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A term that refers to any low-cost approach to creating awareness of a product/service. This usually involves time, ingenuity and novelty, rather than cash. See page 209.
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Innovators
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A marketing term for those people who think for themselves, like novelty and try things. See page 215.
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Early adopters
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A marketing term for those people with status in their market segment who are second-wave buyers of a product. They are opinion leaders. See page 217.
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