Business Plan: A formal document outlining a business's goals, strategies, and financial projections for future success.
Internet of Things (IoT): The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
Source: TechTarget
Denial of Service (DoS): Denial of service (DoS) is a type of cyber attack designed to disable, shut down or disrupt a network, website or service. Typically, a malware is used to interrupt or inhibit the normal flow of data into and out of a system to render the target useless or inaccessible for a certain period. An example of a DoS attack: when a website is accessed massively and repeatedly from different locations, preventing legitimate visitors from accessing the website.
Source: Trend Micro
Multi-factor authentication: Multi-factor Authentication (MFA) is an authentication method that requires the user to provide two or more verification factors to gain access to a resource such as an application, online account, or a VPN. MFA is a core component of a strong identity and access management (IAM) policy. Rather than just asking for a username and password, MFA requires one or more additional verification factors, which decreases the likelihood of a successful cyber attack.
Source: Onelogin
Service Set Identifier (SSID): The name assigned to a Wi-Fi (wireless) network. All devices in the network must use this case-sensitive name to communicate over Wi-Fi, which is a text string up to 32 bytes long. Out of the box, wireless routers and access points have a default SSID, which may be the manufacturer's name, such as "linksys" or "netgear" or simply "default." Some devices use their model number as the SSID. Using a Web browser, the SSID (and password) can be manually changed in the device's configuration settings.
Source: PcMag
Universal Plug and Play (UPnP): UPnP (Universal Plug and Play) is a networking protocol that enables devices to discover each other and connect without the need for manual configuration or user intervention. The protocol automates all the steps necessary for recognition and communication between devices on the same network.
Source: PhoenixNap
Zero-day exploits: A zero-day (0day) exploit is a cyber attack targeting a software vulnerability which is unknown to the software vendor or to antivirus vendors. The attacker spots the software vulnerability before any parties interested in mitigating it, quickly creates an exploit, and uses it for an attack. Such attacks are highly likely to succeed because defenses are not in place. This makes zero-day attacks a severe security threat.
Source: Imperva
Ransomware: Ransomware is a type of malware that prevents or limits users from accessing their system, either by locking the system's screen or by locking the users' files until a ransom is paid. More modern ransomware families, collectively categorized as cryptoransomware, encrypt certain file types on infected systems and force users to pay the ransom through certain online payment methods to get a decryption key.
Source: Trend Micro
SWOT Analysis: An evaluation of a business's Strengths, Weaknesses, Opportunities, and Threats to inform strategic planning.
Data Driven approach : it relies on empirical data and evidence to inform decisions, problem-solving, or processes, rather than solely relying on intuition or preconceived notions. It emphasises using data analysis and insights to guide actions and decision-making.
Market Research: The process of gathering and analyzing data on a target market to understand customer behavior and industry trends.
KPI (Key Performance Indicator): Measurable metrics used to assess the effectiveness of a business plan and overall performance.
Design Thinking: Design Thinking is a human-centred approach to problem-solving and innovation that prioritises empathy for end-users, collaboration, and experimentation. It involves a structured process of understanding user needs, ideating creative solutions, prototyping, and testing to arrive at innovative designs and solutions.
User Persona: A user persona is a fictional representation of a typical end-user or customer. It includes demographic information, behaviours, goals, and pain points. User personas are used in Design Thinking to better understand and empathise with the target audience.
Ideation: Ideation is the creative process of generating a wide range of ideas and solutions, often in a brainstorming session. It is a crucial stage in Design Thinking where participants aim to think freely and expansively to address the identified challenges.
Prototyping: Prototyping involves creating tangible representations of concepts or solutions, ranging from low-fidelity sketches to high-fidelity models. Prototypes are used for testing and validating ideas, helping teams visualise and refine their designs before implementation.
Key Performance Indicator (KPI): A KPI is a measurable metric used to assess the performance and impact of a project, initiative, or organisation. In Design Thinking, KPIs are established to quantitatively measure the success and effectiveness of solutions developed through the process, helping to evaluate their impact on user experiences or business outcomes.
Digital Marketing: Digital marketing refers to the use of online channels and strategies to promote products, services, or brands to a target audience. It encompasses various techniques such as social media marketing, search engine optimization (SEO), email marketing, and content marketing.
Online Presence: Online presence refers to an entity's visibility and representation on the internet. For businesses, it includes their websites, social media profiles, and other digital platforms where customers can interact with and learn about the brand.
Digital Marketing Channels: Digital marketing channels are the specific platforms or mediums used to reach and engage with the target audience. Examples include social media, search engines, email, content websites, and mobile apps.
Market Research: Market research involves the systematic collection and analysis of data related to a specific market, industry, or target audience. It helps businesses understand market trends, customer preferences, and competitive landscapes.
Competitor Analysis: Competitor analysis is the process of evaluating and studying the strategies, strengths, weaknesses, and performance of competitors within the same industry. It aids in identifying opportunities and threats in the marketplace.
Search Engine Optimization (SEO): Search engine optimization is the practice of optimizing a website or online content to improve its visibility and ranking on search engine results pages (e.g., Google). Effective SEO involves keyword research, on-page optimization, and link-building strategies.
MSMEs: Micro, Small, and Medium Enterprises, which in our case are called to adopt and integrate digital technologies for long-term success and competitiveness.
Digital Transformation: The integration of innovative digital solutions into all aspects of a business, fundamentally changing its operations and value delivery to customers.
Intrapreneur: “Like entrepreneurs, intrapreneurs focus on innovation – but do so with access to their current employer’s resources. (…) Intrapreneurs are individuals who are tasked with creating new and innovative products within an already-established business. Backed by a company's available resources, intrapreneurs develop open-ended ideas and turn them into real-world products and services”.
Source: Coursera, What Is an Intrapreneur?
Change Management: A strategic internal approach to transitioning individuals, teams, and organisations from their current state to a desired future state, involving careful planning, communication, and strategies.
Blockchain: “A blockchain is a special kind of database, also called a decentralized digital ledger, that's maintained by numerous computers distributed around the world. Blockchain data is organized into blocks, which are chronologically arranged and secured by cryptography”.
Source: Binance Academy, What Is Blockchain?
IoT: “The Internet of Things (IoT) describes physical objects embedded with sensors and actuators that communicate with computing systems via wired or wireless networks – allowing the physical world to be digitally monitored or even controlled”.
Source: McKinsey & Company, What is the Internet of Things?
Grant: A grant is a financial award provided by a funding body, often a government or an organization, to support specific projects or activities. Grants are typically non-repayable and aim to fund initiatives that align with the goals and priorities of the funding entity.
Loan: A loan is a financial arrangement where a lender provides funds to a borrower with the expectation of repayment, usually with interest, over a specified period. Loans can be used to finance various projects, and the terms and conditions vary based on the agreement between the borrower and lender.
GDP per capita: GDP per capita is a key economic indicator that measures the average economic output per person in a specific region or country. It is calculated by dividing the gross domestic product (GDP) by the total population. GDP per capita provides insights into the economic well-being and standard of living of a population.
NRRP (National Recovery and Resilience Plan): The NRRP is a strategic document developed by EU Member States to access funding from the Recovery and Resilience Facility under NextGenerationEU. It outlines national strategies for economic recovery, resilience, and reforms, focusing on areas such as green transition, digital transformation, and social inclusion.
Gantt chart: A Gantt chart is a visual project management tool that provides a timeline view of tasks, activities, and milestones. It helps project managers and teams to plan, schedule, and track progress over time, offering a clear representation of the project's workflow.
Digital Financial Management: The practice of using digital tools and technologies to effectively plan, track, and manage financial activities. This includes activities such as budgeting, expense tracking, and utilizing online banking and payment systems for enhanced financial control and efficiency.
Cybersecurity Measures: Security protocols and practices implemented to protect digital financial systems and information from unauthorized access, cyberattacks, and data breaches. Cybersecurity measures include encryption, multi-factor authentication, and robust fraud detection systems.
E-Wallets: Electronic wallets or digital wallets that store digital representations of currency, allowing users to make electronic transactions securely. E-wallets often support various payment methods and are commonly used for online purchases and mobile payments.
Mobile Banking Applications: Applications designed for mobile devices that provide users with access to banking services and features. These apps enable users to perform transactions, check account balances, and manage finances conveniently using their smartphones or tablets.
Expense Tracking Apps: Software applications designed to help individuals and businesses monitor and categorize their spending. Expense tracking apps provide features such as real-time expenditure updates, budget tracking, and insights into spending patterns to promote financial awareness and discipline.
