991 terms
Analysing and Improving Operational Performance
Production system eliminating waste; maximizing value.
Operational Management
Analysing and Improving Operational Performance
(already covered - see 1.4).
Operational Management
Analysing and Improving Operational Performance
Production capacity exceeding market demand.
Operational Management
Analysing and Improving Operational Performance
Processes preventing defects before/during production (proactive).
Operational Management
Analysing and Improving Operational Performance
Small employee groups meeting regularly to identify/solve quality problems.
Operational Management
Analysing and Improving Operational Performance
Inspection/testing to identify defects (reactive).
Operational Management
Analysing and Improving Operational Performance
Systematic approach ensuring products/services meet standards consistently.
Operational Management
Analysing and Improving Operational Performance
Unused production capacity available for growth.
Operational Management
Analysing and Improving Operational Performance
Network of organizations/processes producing/delivering product from materials to customer.
Operational Management
Analysing and Improving Operational Performance
Comprehensive approach making quality responsibility of all employees.
Operational Management
Analysing Financial Performance
(Maslow - see 1.4).
Financial Management
Analysing Financial Performance
Business/process relying heavily on human labor.
Financial Management
Analysing Financial Performance
(Quality - already covered).
Financial Management
Analysing Financial Performance
Manufacturing custom products one at a time or in small quantities.
Financial Management
Analysing Financial Performance
See Job Production.
Financial Management
Analysing Financial Performance
(Continuous Improvement).
Financial Management
Analysing Financial Performance
Focused improvement activities over short period (days/weeks).
Financial Management
Analysing Financial Performance
(already covered - see 1.4).
Financial Management
Analysing Financial Performance
Regular servicing of equipment to prevent breakdown.
Financial Management
Analysing Financial Performance
Labor time measurement; employee hours worked.
Financial Management
Analysing Financial Performance
Producing goods through processing/assembly.
Financial Management
Analysing Financial Performance
Moving/storing materials in production.
Financial Management
Analysing Financial Performance
Highest inventory quantity before ordering more.
Financial Management
Analysing Financial Performance
Lowest inventory quantity; triggers reordering.
Financial Management
Analysing Financial Performance
Products becoming out-of-date/unusable before sale.
Financial Management
Analysing Financial Performance
Day-to-day activities transforming inputs to outputs.
Financial Management
Analysing Financial Performance
Directing resources to produce goods/services efficiently.
Financial Management
Analysing Financial Performance
Making something as effective/efficient as possible.
Financial Management
Analysing Financial Performance
Indirect production costs not directly tied to product: factory rent, utilities, depreciation, supervision.
Financial Management
Analysing Financial Performance
(see Waste Minimisation).
Financial Management
Analysing Financial Performance
Inventory quantity triggering new order placement.
Financial Management
Analysing Financial Performance
(Economic Order Quantity).
Financial Management
Analysing Financial Performance
Distributing limited resources (budget, equipment, labor, time) across activities/projects.
Financial Management
Analysing Financial Performance
Using resources (materials, energy, labor, capital) productively with minimum waste.
Financial Management
Analysing Financial Performance
Planning/controlling business resources to achieve objectives.
Financial Management
Analysing Financial Performance
Protecting employees from harm.
Financial Management
Analysing Financial Performance
Requirements ensuring workplace safety: equipment standards, procedures, training, protective equipment.
Financial Management
Analysing Financial Performance
Planning when tasks/production occurs.
Financial Management
Analysing Financial Performance
(see Semi-Fixed Costs - 2.2).
Financial Management
Analysing Financial Performance
(Changeover Costs).
Financial Management
Analysing Financial Performance
Manufacturing step producing product start-to-finish.
Financial Management
Analysing Financial Performance
(Inventory Turnover - already covered).
Financial Management
Analysing Financial Performance
Building/maintaining effective supplier partnerships.
Financial Management
Analysing Financial Performance
Manufacturing minimizing environmental/social impact.
Financial Management
Analysing Financial Performance
Tools, equipment, processes used in production.
Financial Management
Analysing Financial Performance
(Under-utilization).
Financial Management
Analysing Financial Performance
Cost per item produced.
Financial Management
Analysing Financial Performance
Discarded materials, inefficiency, rework, excess capacity.
Financial Management
Analysing Financial Performance
Reducing waste in production/operations.
Financial Management
Analysing Financial Performance
Analyzing work methods to improve efficiency.
Financial Management
Analysing Financial Performance
(see Flexible Workforce - 1.4).
Financial Management
Analysing Financial Performance
Increase in currency value relative to another.
Financial Management
Analysing Financial Performance
Financial support provided to eligible individuals: unemployment benefits, disability support, family allowances.
Financial Management
Analysing Financial Performance
Government regulations promoting fair competition, preventing monopolies/unfair practices.
Financial Management
Analysing Financial Performance
Overall market conditions and competitive pressures.
Financial Management
Analysing Financial Performance
Laws safeguarding consumers: product safety, honest information, rights to redress.
Financial Management
Analysing Financial Performance
Measure of average price changes for consumer goods/services.
Financial Management
Analysing Financial Performance
Total expenditure by households on goods/services.
Financial Management
Analysing Financial Performance
Trading one currency for another at market rate.
Financial Management
Analysing Financial Performance
Sustained decrease in general price level.
Financial Management
Analysing Financial Performance
Decrease in currency value relative to another.
Financial Management
Analysing Financial Performance
Increase in real GDP; expansion of economy.
Financial Management
Analysing Financial Performance
Unpredictability in economic conditions; difficulty forecasting.
Financial Management
Analysing Financial Performance
Study of how societies manage scarce resources.
Financial Management
Analysing Financial Performance
Sensitivity of quantity demanded/supplied to price changes.
Financial Management
Analysing Financial Performance
Total number of people working in economy/sector.
Financial Management
Analysing Financial Performance
Laws protecting employee rights: minimum wage, working hours, discrimination protection, health/safety, dismissal proced
Financial Management
Analysing Financial Performance
Protections employees have: fair treatment, safe conditions, minimum wage, non-discrimination, contractual protection.
Financial Management
Analysing Financial Performance
Effects of business on natural environment: emissions, waste, resource use, pollution.
Financial Management
Analysing Financial Performance
Laws/policies preventing environmental damage: pollution control, resource conservation, waste management, climate regul
Financial Management
Analysing Financial Performance
Requirements for acceptable environmental performance: emissions limits, waste handling, energy efficiency.
Financial Management
Analysing Financial Performance
Price of one currency in terms of another.
Financial Management
Analysing Financial Performance
Unexpected external event affecting economy/business: oil price spike, natural disaster, war, pandemic, financial crisis
Financial Management
Analysing Financial Performance
Government use of taxation and spending to influence economy.
Financial Management
Analysing Financial Performance
Official government set exchange rate (not market determined).
Financial Management
Analysing Financial Performance
Market-determined exchange rate; fluctuates based on supply/demand.
Financial Management
Analysing Financial Performance
Trading currencies; market where currencies exchange.
Financial Management
Analysing Financial Performance
Expenditure by government on goods, services, wages, benefits, infrastructure.
Financial Management
Analysing Financial Performance
Total value of goods/services produced in country in period.
Financial Management
Analysing Financial Performance
Protection of people from work-related harm.
Financial Management
Analysing Financial Performance
Cost of borrowing; return on savings.
Financial Management
Analysing Financial Performance
Increase/decrease in borrowing costs.
Financial Management
Analysing Financial Performance
Exchange of goods/services between countries.
Financial Management
Analysing Financial Performance
Market where labor (employees) is traded for wages.
Financial Management
Analysing Financial Performance
Government use of laws to regulate business behavior.
Financial Management
Analysing Financial Performance
Laws enacted by government regulating business/society.
Financial Management
Analysing Financial Performance
Central bank action controlling money supply/interest rates to influence economy.
Financial Management
Analysing Financial Performance
Single supplier of product/service; no competition.
Financial Management
Analysing Financial Performance
Lowest legal wage employers must pay employees.
Financial Management
Analysing Financial Performance
Industry where single supplier most efficient (high infrastructure cost).
Financial Management
Analysing Financial Performance
Market dominated by few large suppliers.
Financial Management
Analysing Financial Performance
Government regulation of prices; setting maximum or minimum prices.
Financial Management
Analysing Financial Performance
Illegal practice where competitors agree on prices.
Financial Management
Analysing Financial Performance
Government control of prices; typically maximum/minimum.
Financial Management
Analysing Financial Performance
Business with no control over price; must accept market price.
Financial Management
Analysing Financial Performance
Government policies protecting domestic industries from foreign competition.
Financial Management
Analysing Financial Performance
Ability to buy goods/services; determined by income and price levels.
Financial Management
Analysing Financial Performance
Limit on quantity of imports allowed.
Financial Management
Analysing Financial Performance
Economic contraction; negative growth, rising unemployment, falling demand.
Financial Management
Analysing Financial Performance
Business sector with government price/conduct regulation.
Financial Management
Analysing Financial Performance
Government rules controlling business behavior.
Financial Management
Analysing Financial Performance
Government agency enforcing regulations.
Financial Management
Analysing Financial Performance
Meeting regulatory requirements; following rules/standards set by government.
Financial Management
Analysing Financial Performance
Limited availability of resources relative to demand.
Financial Management
Analysing Financial Performance
Government payment supporting producers/consumers.
Financial Management
Analysing Financial Performance
Excess supply relative to demand at current price.
Financial Management
Analysing Financial Performance
Tax on imports, making foreign goods more expensive.
Financial Management
Analysing Financial Performance
Mandatory payment to government by individuals/businesses.
Financial Management
Analysing Financial Performance
Reduction in taxes; temporary or permanent.
Financial Management
Analysing Financial Performance
Advances in technology affecting business.
Financial Management
Analysing Financial Performance
Sharing technology knowledge/capabilities between countries/organizations.
Financial Management
Analysing Financial Performance
Statistical method analyzing data over time to identify trends/patterns.
Financial Management
Analysing Financial Performance
Exchange of goods/services between parties/countries.
Financial Management
Analysing Financial Performance
Obstacles to international trade: tariffs, quotas, regulations, transport costs.
Financial Management
Analysing Financial Performance
Group of countries with reduced trade barriers among themselves.
Financial Management
Analysing Financial Performance
Percentage of labor force without work/actively seeking.
Financial Management
Analysing Financial Performance
Global economic system; interconnected markets, trade, finance.
Financial Management
Analysing Financial Performance
Financial Management
Analysing Financial Performance
Ansoff's Matrix (4 strategies), Boston Matrix (4 quadrants), Porter's Five Forces (5 forces), Porter's Strategic Matrix,
Financial Management
Analysing Financial Performance
Globalisation, FDI, MNCs, Trading blocs, Glocalisation, Offshoring, Outsourcing, Global marketing, Cultural adaptation,
Financial Management
Analysing Financial Performance
All 7 accounting ratios (with formulas), Quantitative skills, Transferable skills.
Financial Management
Analysing Financial Performance
The process of comparing actual financial results with budgeted (planned) figures to identify variances, understand thei
Financial Management
Analysing Financial Performance
When a business is unable to continue trading, typically because it cannot pay its debts (insolvency) or because it is n
Financial Management
Analysing Financial Performance
The distinction between profit (an accounting measure of revenue minus costs over a period) and cash (the actual money a
Financial Management
Analysing Financial Performance
Buying existing business/company to gain control.
Financial Management
Analysing Financial Performance
Different strategic approaches to achieve objectives.
Financial Management
Analysing Financial Performance
External factors affecting business: market conditions, competition, regulations, technology, economics, society.
Financial Management
Analysing Financial Performance
Long-term plan achieving business objectives.
Financial Management
Analysing Financial Performance
Where business stands relative to competitors.
Financial Management
Analysing Financial Performance
Approach to competing effectively.
Financial Management
Analysing Financial Performance
Critical evaluation; identifying strengths and weaknesses.
Financial Management
Analysing Financial Performance
General, broad business direction; aspirational statements.
Financial Management
Analysing Financial Performance
Values, beliefs, behaviors characteristic of organization.
Financial Management
Analysing Financial Performance
Specific, measurable targets business aims to achieve.
Financial Management
Analysing Financial Performance
Business responsibility to stakeholders beyond profit maximization.
Financial Management
Analysing Financial Performance
Overall long-term plan achieving corporate objectives.
Financial Management
Analysing Financial Performance
Systematic evaluation comparing benefits and costs of decision/project.
Financial Management
Analysing Financial Performance
Choice between alternatives; selecting one option from options.
Financial Management
Analysing Financial Performance
Process of choosing between alternatives.
Financial Management
Analysing Financial Performance
Systematic method assisting decision-making.
Financial Management
Businesses and the External Environment
Class of shares with priority over ordinary shares for dividends/asset distribution.
What is Business?
Businesses and the External Environment
Investment in private (non-public) companies by PE firms.
What is Business?
Businesses and the External Environment
Sale of shares/securities to limited number of investors privately rather than public offering.
What is Business?
Businesses and the External Environment
Real estate asset; valuable collateral for loans.
What is Business?
Businesses and the External Environment
Formal document issued by company offering securities.
What is Business?
Businesses and the External Environment
Money owed to company by customers for goods/services delivered.
What is Business?
Businesses and the External Environment
Profit made on investment relative to cost.
What is Business?
Businesses and the External Environment
Selling business assets for cash.
What is Business?
Businesses and the External Environment
Loan backed by collateral (asset) lender can claim if unpaid.
What is Business?
Businesses and the External Environment
Financial instruments representing value: stocks, bonds, derivatives.
What is Business?
Businesses and the External Environment
Initial capital to develop business idea to viable stage.
What is Business?
Businesses and the External Environment
Equity finance from investors purchasing company shares.
What is Business?
Businesses and the External Environment
Individual/organization owning shares in company.
What is Business?
Businesses and the External Environment
Units of ownership in company.
What is Business?
Businesses and the External Environment
Borrowing for immediate needs, repaid <1 year.
What is Business?
Businesses and the External Environment
Loan with favorable terms: low/no interest, long repayment period, flexible conditions.
What is Business?
Businesses and the External Environment
Market where company shares are traded.
What is Business?
Businesses and the External Environment
Loan repaid only after senior debt in bankruptcy.
What is Business?
Businesses and the External Environment
Excess money beyond operational needs.
What is Business?
Businesses and the External Environment
Large loan arranged by group of lenders reducing individual risk.
What is Business?
Businesses and the External Environment
Fixed-term loan repaid in regular installments over set period.
What is Business?
Businesses and the External Environment
Arrangement to purchase goods/services on credit; payment due later (typically 30-90 days).
What is Business?
Businesses and the External Environment
Loan without collateral backing.
What is Business?
Businesses and the External Environment
Determining business/asset worth.
What is Business?
Businesses and the External Environment
The process of creating and launching a new business venture from the initial idea through to becoming operational.
What is Business?
Businesses and the External Environment
The moral position or set of values that guides a business's decision-making, particularly regarding issues such as the
What is Business?
Businesses and the External Environment
A business objective focused on the physical, mental, and financial wellbeing of employees beyond minimum legal requirem
What is Business?
Businesses and the External Environment
A business structure where the company is a separate legal entity from its owners, shareholders have limited liability,
What is Business?
Businesses and the External Environment
A business that primarily operates via the internet, selling products or services online rather than through physical pr
What is Business?
Businesses and the External Environment
A short-term business objective focused on generating enough revenue to cover costs and continue operating, particularly
What is Business?
Businesses and the External Environment
A situation where the percentage change in quantity demanded is greater than the percentage change in price (PED > 1 in
What is Business?
Businesses and the External Environment
A situation where the percentage change in quantity demanded is less than the percentage change in price (PED < 1 in abs
What is Business?
Businesses and the External Environment
Alternating periods of economic expansion and contraction.
What is Business?
Businesses and the External Environment
Inflation caused by rising production costs (materials, labor, energy).
What is Business?
Businesses and the External Environment
Inflation from high demand exceeding supply ("too much money chasing too few goods").
What is Business?
Businesses and the External Environment
Sustained increase in general price level.
What is Business?
Businesses and the External Environment
Percentage increase in price level year-over-year.
What is Business?
Businesses and the External Environment
Rapid increase in wage levels.
What is Business?
Businesses and the External Environment
A framework for scanning everything outside the business that could affect it.
What is Business?
Businesses and the External Environment
Cost advantages that arise from growth within a particular business, reducing average unit costs as output expands.
What is Business?
Businesses and the External Environment
Cost advantages that arise from the growth of the whole industry or cluster of businesses in a region, benefiting all fi
What is Business?
Businesses and the External Environment
A situation where a business grows too rapidly without sufficient working capital to finance the expansion, leading to c
What is Business?
Businesses and the External Environment
The ability of a business with a large market share to influence prices, terms of trade, or competitive conditions in it
What is Business?
Businesses and the External Environment
A management philosophy, associated with Milton Friedman, that argues a business's primary duty is to maximise financial
What is Business?
Businesses and the External Environment
Economic fluctuations affecting multiple countries.
What is Business?
Businesses and the External Environment
Worldwide general price increase.
What is Business?
Different Business Forms
Creating business to address social/environmental problems; profit secondary to impact.
What is Business?
Different Business Forms
Business goal benefiting society/environment beyond profit.
What is Business?
Different Business Forms
Individual owning/operating business alone.
What is Business?
Different Business Forms
Support/backing from established business/individual for new venture.
What is Business?
Different Business Forms
Exchange where company shares are traded.
What is Business?
Different Business Forms
Process of company offering shares publicly on stock exchange; becoming PLC.
What is Business?
Different Business Forms
Achievement of business objectives; sustainable profitable operation.
What is Business?
Different Business Forms
Assistance for entrepreneurs: funding, mentoring, advice, networks, training, incubators.
What is Business?
Different Business Forms
Accepting less of one thing to gain more of another.
What is Business?
Different Business Forms
Business conditions where outcomes unpredictable; probabilities unknown.
What is Business?
Different Business Forms
Legal responsibility for all business debts with no limit.
What is Business?
Different Business Forms
Clear picture of future desired state; long-term direction.
What is Business?
Different Business Forms
Amount customers owe for goods/services already delivered.
What is Business?
Different Business Forms
(see Business Angel in 1.5).
What is Business?
Different Business Forms
Borrowing to purchase specific assets (equipment, vehicles, property).
What is Business?
Different Business Forms
Money borrowed from bank to be repaid with interest over agreed period.
What is Business?
Different Business Forms
Starting/growing business with minimal external funding; relying on: personal savings, revenue reinvestment, free resour
What is Business?
Different Business Forms
Assets used long-term in business operations: machinery, vehicles, buildings, computers.
What is Business?
Different Business Forms
Raising capital through borrowing; must repay with interest.
What is Business?
Different Business Forms
Percentage applied to future cash flows to calculate present value.
What is Business?
Different Business Forms
Distribution of profits to shareholders.
What is Business?
Different Business Forms
Raising capital through selling ownership shares.
What is Business?
Different Business Forms
Capital raised from outside sources: banks (loans), investors (equity), governments (grants), organizations (crowd fundi
What is Business?
Different Business Forms
Capital from family members for business.
What is Business?
Different Business Forms
Long-term business assets lasting >1 year: property, equipment, vehicles, technology.
What is Business?
Different Business Forms
(Stock Market - see 1.5).
What is Business?
Different Business Forms
Capital from friends for business.
What is Business?
Different Business Forms
Providing financial resources for business.
What is Business?
Different Business Forms
UK government bonds; low-risk investment paying interest.
What is Business?
Different Business Forms
Non-repayable funding from government for specified purposes: research, training, regional development, environmental in
What is Business?
Different Business Forms
Arrangement to use asset while paying for it in installments.
What is Business?
Different Business Forms
Funding outside formal banking system: family, friends, saving groups, private investors.
What is Business?
Different Business Forms
Cost of borrowing; paid by borrower to lender.
What is Business?
Different Business Forms
Capital raised from within organization: owner's capital, retained profits, asset sales.
What is Business?
Different Business Forms
Purchasing assets expecting future returns: financial (stocks, bonds), physical (equipment, property), business (equity
What is Business?
Different Business Forms
Selling unpaid invoices to factor at discount to get immediate cash.
What is Business?
Different Business Forms
Arrangement to use asset for set period paying regular fees.
What is Business?
Different Business Forms
Legal structure where business is separate legal entity from owners.
What is Business?
Different Business Forms
Conditions/restrictions imposed by lender in loan agreement.
What is Business?
Different Business Forms
Borrowing arrangement; money provided to be repaid with interest.
What is Business?
Different Business Forms
Typical interest rates, fees, terms offered in financial market for different types of borrowing.
What is Business?
Different Business Forms
Financial institutions providing: corporate finance, investment services, advisory to businesses.
What is Business?
Different Business Forms
Small loans to individuals/micro-businesses often in developing countries.
What is Business?
Different Business Forms
Long-term loans for property purchase.
What is Business?
Different Business Forms
Long-term business assets held >12 months.
What is Business?
Different Business Forms
Public method of selling company shares on stock exchange.
What is Business?
Different Business Forms
Money invested by owner/shareholders in business.
What is Business?
Different Business Forms
(Peer-to-Peer).
What is Business?
Different Business Forms
Funding structure for partnerships; capital from partners, loans against personal assets.
What is Business?
Different Business Forms
(see P2P Lending).
What is Business?
Financial Ratios and Investment Appraisal
Strategy protecting existing position against threats.
Financial Management
Financial Ratios and Investment Appraisal
Making product/business distinctly different from competitors.
Financial Management
Financial Ratios and Investment Appraisal
Competing through unique, valued product features.
Financial Management
Financial Ratios and Investment Appraisal
Where business is heading; long-term path.
Financial Management
Financial Ratios and Investment Appraisal
Unique organizational strengths difficult for competitors to copy.
Financial Management
Financial Ratios and Investment Appraisal
Advantages of operating in multiple markets/products.
Financial Management
Financial Ratios and Investment Appraisal
Organization divided into semi-autonomous divisions by: product, geography, market, customer type.
Financial Management
Financial Ratios and Investment Appraisal
Organization's ability to adapt, change, improve over time.
Financial Management
Financial Ratios and Investment Appraisal
Profit exceeding cost of capital; true economic profit.
Financial Management
Financial Ratios and Investment Appraisal
Monitoring external environment for opportunities/threats.
Financial Management
Financial Ratios and Investment Appraisal
Concept that costs decrease as volume increases (learning effect).
Financial Management
Financial Ratios and Investment Appraisal
Projection of future financial performance.
Financial Management
Financial Ratios and Investment Appraisal
Specific financial targets; profitability, growth, returns goals.
Financial Management
Financial Ratios and Investment Appraisal
Framework analyzing competitive intensity.
Financial Management
Financial Ratios and Investment Appraisal
Competing by serving specific market segment well.
Financial Management
Financial Ratios and Investment Appraisal
Vertical integration moving toward customer; acquiring downstream business.
Financial Management
Financial Ratios and Investment Appraisal
Plan for specific business function (HR, marketing, operations, finance).
Financial Management
Financial Ratios and Investment Appraisal
Identifying difference between current position and desired position (goal).
Financial Management
Financial Ratios and Investment Appraisal
Corporate strategy for international/global operations.
Financial Management
Financial Ratios and Investment Appraisal
Increase in business size measured by: revenue, profit, market share, employee count, asset value.
Financial Management
Financial Ratios and Investment Appraisal
Direction of growth strategy; how business will expand.
Financial Management
Financial Ratios and Investment Appraisal
Merging with competitor at same supply chain level.
Financial Management
Financial Ratios and Investment Appraisal
Putting strategy/plan into action; executing decisions.
Financial Management
Financial Ratios and Investment Appraisal
Growth through acquisition, merger, takeover.
Financial Management
Financial Ratios and Investment Appraisal
Combining organizations/functions; merger of entities.
Financial Management
Financial Ratios and Investment Appraisal
Plan developed based on deliberate analysis and decision-making.
Financial Management
Financial Ratios and Investment Appraisal
Evaluation of organization's internal resources/capabilities.
Financial Management
Financial Ratios and Investment Appraisal
Sharing information/messages within organization.
Financial Management
Financial Ratios and Investment Appraisal
Researching market/customers before major business decisions.
Financial Management
Financial Ratios and Investment Appraisal
Systematic approach capturing, storing, sharing organizational knowledge.
Financial Management
Financial Ratios and Investment Appraisal
Organization systematically learning from experience, improving capability.
Financial Management
Financial Ratios and Investment Appraisal
Laws and regulations affecting business operations.
Financial Management
Financial Ratios and Investment Appraisal
Goals spanning multiple years (typically 3+ years).
Financial Management
Financial Ratios and Investment Appraisal
Organizational hierarchy showing reporting relationships.
Financial Management
Financial Ratios and Investment Appraisal
Expanding into different geographic/customer markets.
Financial Management
Financial Ratios and Investment Appraisal
(Ansoff).
Financial Management
Financial Ratios and Investment Appraisal
Where business stands in market relative to competitors.
Financial Management
Financial Ratios and Investment Appraisal
Combination of two companies into single entity.
Financial Management
Financial Ratios and Investment Appraisal
Process of discussing with others to reach agreement.
Financial Management
Financial Ratios and Investment Appraisal
Obligations due >12 months.
Financial Management
Financial Ratios and Investment Appraisal
Specific, measurable targets to be achieved.
Financial Management
Financial Ratios and Investment Appraisal
Achieving goals with minimum resources; effectiveness of operations.
Financial Management
Financial Ratios and Investment Appraisal
Short-term target for daily/weekly operations.
Financial Management
Financial Ratios and Investment Appraisal
Favorable situation offering potential benefit/growth.
Financial Management
Financial Ratios and Investment Appraisal
Growth through internal development, not acquisition.
Financial Management
Financial Ratios and Investment Appraisal
Formal arrangement of positions, reporting relationships, authority.
Financial Management
Financial Ratios and Investment Appraisal
(already covered - see 3.4).
Financial Management
Financial Ratios and Investment Appraisal
Market in different country from home base.
Financial Management
Financial Ratios and Investment Appraisal
Time required to recover initial investment from cash flows.
Financial Management
Financial Ratios and Investment Appraisal
Measurable metric assessing business/individual performance.
Financial Management
Financial Ratios and Investment Appraisal
Systematic assessment of business/individual performance.
Financial Management
Financial Ratios and Investment Appraisal
Tangible assets for business operations: buildings, equipment, vehicles, materials, technology.
Financial Management
Financial Ratios and Investment Appraisal
Formal document outlining how to achieve objectives.
Financial Management
Financial Ratios and Investment Appraisal
Process of deciding future actions to achieve objectives.
Financial Management
Financial Ratios and Investment Appraisal
Government systems, policies, stability affecting business.
Financial Management
Financial Ratios and Investment Appraisal
Five forces that determine how competitive and profitable an industry is.
Financial Management
Financial Ratios and Investment Appraisal
(Generic Strategies).
Financial Management
Financial Ratios and Investment Appraisal
Degree to which demand changes with price.
Financial Management
Financial Ratios and Investment Appraisal
(Ansoff).
Financial Management
Financial Ratios and Investment Appraisal
Strategy reducing business scope/operations; cutting back.
Financial Management
Financial Ratios and Investment Appraisal
Probability of negative outcome with quantifiable consequences.
Financial Management
Financial Ratios and Investment Appraisal
Systematic process identifying and evaluating risks.
Financial Management
Financial Ratios and Investment Appraisal
Systematic approach minimizing negative impact of risks.
Financial Management
Financial Ratios and Investment Appraisal
Making satisfactory decision rather than optimal.
Financial Management
Financial Ratios and Investment Appraisal
Developing alternative future scenarios and responses.
Financial Management
Financial Ratios and Investment Appraisal
Examining how changes in key variables affect outcomes/decisions.
Financial Management
Financial Ratios and Investment Appraisal
Goal achieving within 1 year; operational/tactical targets.
Financial Management
Financial Ratios and Investment Appraisal
Comprehensive assessment of current business position.
Financial Management
Financial Ratios and Investment Appraisal
Maintaining current position; not growing or shrinking.
Financial Management
Financial Ratios and Investment Appraisal
Selecting strategy from alternatives.
Financial Management
Financial Ratios and Investment Appraisal
Long-term, major-impact decision affecting business direction.
Financial Management
Financial Ratios and Investment Appraisal
Competitors with similar strategies and target markets.
Financial Management
Financial Ratios and Investment Appraisal
Long-term direction and aspiration; where business wants to be.
Financial Management
Financial Ratios and Investment Appraisal
Process of developing, implementing, evaluating strategy.
Financial Management
Financial Ratios and Investment Appraisal
Long-term (3+ year) goal driving business direction.
Financial Management
Financial Ratios and Investment Appraisal
Process of developing long-term strategy.
Financial Management
Financial Ratios and Investment Appraisal
Where business stands strategically relative to objectives and competition.
Financial Management
Financial Ratios and Investment Appraisal
Business reaction to external changes/opportunities/threats.
Financial Management
Financial Ratios and Investment Appraisal
(SWOT).
Financial Management
Financial Ratios and Investment Appraisal
Long-term plan achieving objectives.
Financial Management
Financial Ratios and Investment Appraisal
(see Strengths - SWOT).
Financial Management
Financial Ratios and Investment Appraisal
(Porter's Five Forces).
Financial Management
Financial Ratios and Investment Appraisal
A snapshot of a business's internal strengths and weaknesses, and external opportunities and threats.
Financial Management
Financial Ratios and Investment Appraisal
Combined effect greater than sum of parts.
Financial Management
Financial Ratios and Investment Appraisal
Short-term, operational-level decision.
Financial Management
Financial Ratios and Investment Appraisal
Medium-term (1-3 year) goal supporting strategic objectives.
Financial Management
Financial Ratios and Investment Appraisal
Acquiring control of business through purchasing shares/assets.
Financial Management
Financial Ratios and Investment Appraisal
Operating at multiple supply chain levels but not fully controlling all.
Financial Management
Financial Ratios and Investment Appraisal
Growth focused on specific segments/markets/products.
Financial Management
Financial Ratios and Investment Appraisal
Using technology advances to create competitive advantage.
Financial Management
Financial Ratios and Investment Appraisal
(SWOT).
Financial Management
Financial Ratios and Investment Appraisal
(Porter's Five Forces).
Financial Management
Financial Ratios and Investment Appraisal
Plan to restore business from poor performance to viability.
Financial Management
Financial Ratios and Investment Appraisal
External factors business cannot influence: economic conditions, competitor actions, natural disasters, regulation, tech
Financial Management
Financial Ratios and Investment Appraisal
(already covered - see 1.3).
Financial Management
Financial Ratios and Investment Appraisal
Combining firms at different supply chain levels. **Forward integration:** toward customer (manufacturer acquiring retai
Financial Management
Financial Ratios and Investment Appraisal
(Strategic).
Financial Management
Financial Ratios and Investment Appraisal
(SWOT).
Financial Management
Financial Ratios and Investment Appraisal
Approach benefiting multiple stakeholders; mutually beneficial.
Financial Management
Financial Ratios and Investment Appraisal
Situation where gain for one equals loss for another.
Financial Management
HR Objectives and Performance
Line of authority showing who reports to whom in an organization.
Human Resource Management
HR Objectives and Performance
Payment to employees based on sales achieved (percentage of sales value).
Human Resource Management
HR Objectives and Performance
Assigning tasks/responsibility to employees with appropriate authority.
Human Resource Management
HR Objectives and Performance
Giving employees authority and responsibility to make decisions affecting their work.
Human Resource Management
HR Objectives and Performance
Hiring new employees from outside the organization through: job advertisements, recruitment agencies, universities, netw
Human Resource Management
HR Objectives and Performance
Structured, planned training programs: induction, on-the-job, off-the-job, apprenticeships, courses.
Human Resource Management
HR Objectives and Performance
Human Resource Management
HR Objectives and Performance
Department managing: recruitment, training, compensation, performance, employee relations, legal compliance.
Human Resource Management
HR Objectives and Performance
Use of technology in HR: HR systems (payroll, records), recruitment tools, training platforms, performance monitoring, e
Human Resource Management
HR Objectives and Performance
Initial training for new employees.
Human Resource Management
HR Objectives and Performance
Learning through: mentoring, shadowing, observation, experience, peer learning.
Human Resource Management
HR Objectives and Performance
Human Resource Management
HR Objectives and Performance
Hiring new employees from existing workforce through: internal advertisement, promotion, transfer.
Human Resource Management
HR Objectives and Performance
Face-to-face or video conversation between interviewer and job candidate assessing: qualifications, skills, personality,
Human Resource Management
HR Objectives and Performance
Enhancing job vertically; adding responsibility, autonomy, challenge.
Human Resource Management
HR Objectives and Performance
Systematically moving employees between different roles/departments.
Human Resource Management
HR Objectives and Performance
Workforce; people employed to do work.
Human Resource Management
HR Objectives and Performance
Rate of employees leaving organization.
Human Resource Management
HR Objectives and Performance
Drive/willingness of employees to work toward goals with effort/commitment.
Human Resource Management
HR Objectives and Performance
Frameworks explaining what drives employee behavior/performance.
Human Resource Management
HR Objectives and Performance
Factors causing genuine satisfaction and motivation in work.
Human Resource Management
HR Objectives and Performance
Employee working fewer hours than standard full-time (typically <35 hours/week).
Human Resource Management
HR Objectives and Performance
Remuneration employees receive: salary (fixed annual), wages (hourly), bonus, commission, benefits.
Human Resource Management
HR Objectives and Performance
List of employees and their salaries/wages.
Human Resource Management
HR Objectives and Performance
Compensation varying based on individual/team performance measures.
Human Resource Management
HR Objectives and Performance
An approach treating employees as valued assets, focusing on development, motivation and engagement.
Human Resource Management
HR Objectives and Performance
An approach treating employees primarily as a cost to be managed and controlled to meet business objectives.
Human Resource Management
HR Objectives and Performance
A formal body of elected employee representatives that management must consult on workplace decisions.
Human Resource Management
Improving Cash Flow and Profitability
Financial Management
Improving Cash Flow and Profitability
- ✓ Ansoff's Matrix (all 4 strategies).
Financial Management
Improving Cash Flow and Profitability
A set of financial techniques used to evaluate whether a capital investment project is financially worthwhile, comparing
Financial Management
Improving Cash Flow and Profitability
An investment appraisal method that calculates how long it takes for the cumulative cash inflows from an investment to r
Financial Management
Improving Cash Flow and Profitability
An investment appraisal method that expresses the average annual profit from an investment as a percentage of the initia
Financial Management
Improving Cash Flow and Profitability
An investment appraisal method that discounts all future cash flows back to their present value using a discount rate, t
Financial Management
Improving Cash Flow and Profitability
A technique that adjusts future cash flows to their present value by applying a discount rate, reflecting the principle
Financial Management
Improving Cash Flow and Profitability
Obstacles reducing international trade: tariffs (taxes), quotas (quantity limits), regulations, local content requiremen
Financial Management
Improving Cash Flow and Profitability
Communication difficulty from using different languages.
Financial Management
Improving Cash Flow and Profitability
Availability of cash/liquid assets; ability to meet obligations.
Financial Management
Improving Cash Flow and Profitability
Money paid by businesses and individuals to governments through various taxes (corporation tax, income tax, VAT, etc.),
Financial Management
Inventory and Supply Chain Management
Production capacity below available maximum.
Operational Management
Inventory and Supply Chain Management
A lean production approach where materials and components are ordered and delivered just as they are needed in the produ
Operational Management
Inventory and Supply Chain Management
A production method or business that relies heavily on machinery, equipment, and technology rather than labour to produc
Operational Management
Inventory and Supply Chain Management
The process of managing inventory levels to ensure the business has enough stock to meet demand while minimising holding
Operational Management
Inventory and Supply Chain Management
A measure of output per unit of input, showing how efficiently resources are being used to produce goods or services.
Operational Management
Inventory and Supply Chain Management
Network of suppliers, manufacturers, distributors spanning multiple countries.
Operational Management
Inventory and Supply Chain Management
Unequal distribution of resources, income, opportunity.
Operational Management
Inventory and Supply Chain Management
The application of ethical standards throughout the entire supply chain — from raw material extraction to final product
Operational Management
Making Marketing Decisions: the Marketing Mix
Borrowing cost influenced by: central bank policy, risk, inflation expectations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Organization between producer and consumer.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Between or among nations; across borders.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Global communication network enabling worldwide connectivity.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Government action affecting economy: regulation, taxation, spending, subsidies.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Buying assets in foreign country.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Profit/gain from investment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Specialized language/terminology used in business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Employment opportunity generation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Major customer providing significant revenue.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economy based on knowledge/information rather than manufacturing.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Sharing knowledge from one entity/country to another.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Expense of employing workers; wages, benefits, training, administration.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Total employed/unemployed people available for work.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Movement of workers between countries seeking employment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Rules/norms for working conditions: wages, hours, safety, rights.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Manufacturing at high volume; mass production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Benefit of entering market late after pioneers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Legal rules governing business: company law, employment law, contract law, consumer protection, competition law.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Temporary or permanent employee separation from employment.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Forefront of innovation/technology; most advanced.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Efficiency improvement as people gain experience doing task.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Framework of laws, courts, enforcement governing society/business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Granting right to use intellectual property/brand/technology.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to read and write.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Legal dispute resolution through court process.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Advocating interests to policymakers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Company primarily serving local market; limited geographic scope.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Regulation requiring business to source specific percentage locally.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economic activity in specific geographic area (city, region, country).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Adapting product/service for local market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Graphic symbol/design representing brand.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Extended time period; typically years (3+ years).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Product imitating established brand without being identical.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Product sold at loss to attract customers/drive traffic.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Operating with minimum costs; competing on price.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Repeat purchase/support; customer returning to business.
Marketing Management
Making Marketing Decisions: the Marketing Mix
High-end products/services targeting affluent customers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(Mergers and Acquisitions).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Equipment used in production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Large-scale economic factors affecting overall economy.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Difference between selling price and cost; profit.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to enter/operate in market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Economy where price/supply-demand determine allocation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Entering new geographic/product market.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Market inefficiency; not producing socially optimal outcome.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Investigating market/customers to inform decisions.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Characteristics of market affecting competition.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Four elements of marketing strategy (4Ps):.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Location/platform where buying/selling occurs.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Amount added to cost to determine selling price.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Umbrella brand covering multiple products/lines.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Tangible substance used in production.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Market at peak/declining phase; established, limited growth.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Quantifying variables for analysis/evaluation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Channels for communication/marketing: TV, radio, print, digital, social.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Measurable standard for evaluation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Country in North America; significant trading relationship with US/Canada (NAFTA/USMCA).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Small-scale economic factors affecting individual/firm.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Income level between low and high income countries.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Movement of people from one place/country to another for residence/work.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Armed forces; government military presence.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Simplest version of product with essential features enabling customer feedback.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Lowest legally allowed wage employers pay workers.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(Multinational Corporation).
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability of workers to move between jobs/locations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Simplified representation of real situation.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Updating/improving to current standards/technology.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Medium of exchange; currency for transactions.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Ability to control price due to lack of competition.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Right vs. wrong; ethical standards.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Long-term loan for property purchase, secured by property.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Trade status granting best treatment offered to any country.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Factor encouraging action/performance.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Flow of investment money between countries/markets.
Marketing Management
Making Marketing Decisions: the Marketing Mix
Operating across multiple nations.
Marketing Management
Making Marketing Decisions: the Marketing Mix
(already covered).
Marketing Management
Making Marketing Decisions: the Marketing Mix
North American Free Trade Agreement — a trade agreement between the USA, Canada, and Mexico (now replaced by USMCA in 20
Marketing Management
Making Marketing Decisions: the Marketing Mix
A company that operates in multiple countries but does not identify with a single home country — managing its operations
Marketing Management
Making Marketing Decisions: the Marketing Mix
The removal or reduction of trade barriers (tariffs, quotas, regulations) between countries to facilitate freer internat
Marketing Management
Making Marketing Decisions: the Marketing Mix
Fundamental shifts in the composition of an economy, such as the decline of manufacturing and rise of services, often dr
Marketing Management
Making Marketing Decisions: the Marketing Mix
A domestic market condition that motivates a business to expand internationally by making continued domestic operation l
Marketing Management
Making Marketing Decisions: the Marketing Mix
An attractive condition in a foreign market that draws a business toward international expansion.
Marketing Management
Making Marketing Decisions: the Marketing Mix
A market in which demand has been largely met and there is little room for further growth, typically characterised by in
Marketing Management
Making Marketing Decisions: the Marketing Mix
Relocating business functions or production to another country to take advantage of lower costs, favourable regulations,
Marketing Management
Making Marketing Decisions: the Marketing Mix
The amount of money households have available to spend or save after direct taxes (income tax and National Insurance) ha
Marketing Management
Making Marketing Decisions: the Marketing Mix
The degree to which a country's government and political institutions are reliable, predictable, and free from sudden up
Marketing Management
Making Marketing Decisions: the Marketing Mix
A situation where the supply of workers with specific skills falls short of the demand from employers, driving up wages
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy in which the home country's marketing approach is applied uniformly in all international mar
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy that treats the world as a single market, developing standardised products and marketing tha
Marketing Management
Making Marketing Decisions: the Marketing Mix
A global marketing strategy that adapts products, pricing, promotion, and distribution significantly to each local marke
Marketing Management
Making Marketing Decisions: the Marketing Mix
A small but globally distributed segment of consumers with very specific needs that can be served profitably across mult
Marketing Management
Making Marketing Decisions: the Marketing Mix
Problems arising when marketing materials, product names, slogans, or instructions are translated into another language
Marketing Management
Making Marketing Decisions: the Marketing Mix
The seven elements of the marketing mix for services: Product, Price, Promotion, Place, People, Process, Physical Enviro
Marketing Management
Making Marketing Decisions: the Marketing Mix
A model showing the stages a product passes through from development to withdrawal: development, introduction, growth, m
Marketing Management
Management, Leadership and Decision Making
Leadership style where leader makes decisions with little/no employee input.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Leadership style seeking employee input in decisions.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Quality of being honest, principled, consistent in values and actions.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Leadership style giving employees maximum freedom and minimal direction.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Directing and inspiring people toward goals.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Approach to directing and influencing people.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Approach to directing employees.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Leadership style combining authority with caring/benevolence toward employees.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Management refers to the process of planning, organising, and controlling resources to achieve objectives. Leadership re
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
(Economic).
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Benefit foregone by choosing one option over another.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
(Economic - already covered).
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Competing by having lowest production costs, enabling low prices.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Individual/group affected by or affecting business.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Disagreement between stakeholders with different interests.
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A smoothing technique used in time-series analysis that calculates the average of a set number of consecutive data point
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A type of graph that plots two variables against each other to identify whether a correlation (relationship) exists betw
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A straight line drawn on a scatter graph that best represents the trend of the data, minimising the overall distance bet
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
Using an established trend (from historical data or a line of best fit) to forecast future values by extending the trend
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A quantitative decision-making tool that maps out possible options, their probabilities, and expected outcomes in a tree
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A project management technique that identifies the longest sequence of dependent activities (the critical path) in a pro
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
A diagram used in Critical Path Analysis that maps all activities in a project showing their sequence and dependencies,
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
In Critical Path Analysis, the earliest possible time at which an activity can begin, based on when all preceding activi
Managers, Leadership and Decision Making
Management, Leadership and Decision Making
In Critical Path Analysis, the latest time at which an activity can be completed without delaying the overall project co
Managers, Leadership and Decision Making
Motivation and Employer-Employee Relations
Employee hired for fixed period (project duration, seasonal, covering absence).
Human Resource Management
Motivation and Employer-Employee Relations
Ending of employment relationship.
Human Resource Management
Motivation and Employer-Employee Relations
Organization representing employee interests in negotiations with employers.
Human Resource Management
Motivation and Employer-Employee Relations
Systematic development of employee knowledge and skills.
Human Resource Management
Motivation and Employer-Employee Relations
Expense of developing employee skills: trainer fees, course fees, time away from work, materials.
Human Resource Management
Motivation and Employer-Employee Relations
Termination of employment without fair/legal process.
Human Resource Management
Motivation and Employer-Employee Relations
Employee without specialized training; performs basic tasks.
Human Resource Management
Motivation and Employer-Employee Relations
Hourly payment to employee (or daily/piecework).
Human Resource Management
Motivation and Employer-Employee Relations
Representative group of employees discussing workplace matters with management.
Human Resource Management
Motivation and Employer-Employee Relations
Physical/environmental factors affecting employees: hours, safety, environment, tools/equipment.
Human Resource Management
Motivation and Employer-Employee Relations
Employment agreement with no guaranteed hours; employee available as needed.
Human Resource Management
Motivation and Employer-Employee Relations
Training that takes place while the employee is performing their normal work duties, typically under the guidance of a m
Human Resource Management
Motivation and Employer-Employee Relations
Training that takes place away from the normal work environment, in a dedicated training centre, college, or external ve
Human Resource Management
Motivation and Employer-Employee Relations
Frederick Taylor's theory that worker productivity can be maximised by scientifically analysing tasks, selecting the bes
Human Resource Management
Motivation and Employer-Employee Relations
Elton Mayo's theory that social factors and group dynamics are the primary drivers of worker motivation, rather than pay
Human Resource Management
Motivation and Employer-Employee Relations
Abraham Maslow's motivational theory proposing that human needs exist in a hierarchy of five levels: physiological, safe
Human Resource Management
Motivation and Employer-Employee Relations
Achieving maximum output from a given level of inputs; producing goods or services at minimum cost without sacrificing q
Human Resource Management
Motivation and Employer-Employee Relations
Reasons individuals start businesses.
Human Resource Management
Motivation and Employer-Employee Relations
Job factors that prevent dissatisfaction but don't motivate.
Human Resource Management
Motivation and Employer-Employee Relations
When a multinational company sets the price for sales between its own subsidiaries in different countries — often to mov
Human Resource Management
Motivation and Employer-Employee Relations
The practice of treating workers unfairly or unethically — including paying very low wages, enforcing excessive working
Human Resource Management
Motivation and Employer-Employee Relations
The management and disposal of by-products, damaged goods, and obsolete materials generated by business activities, in a
Human Resource Management
Motivation and Employer-Employee Relations
An organised group of people that campaigns to influence business behaviour, government policy, or public opinion on a p
Human Resource Management
Motivation and Employer-Employee Relations
The process by which an MNC spreads its management practices, values, and working culture from its home country to its i
Human Resource Management
Motivation and Employer-Employee Relations
Information required or chosen to be displayed on a product's packaging, including ingredients, country of origin, nutri
Human Resource Management
Nature and Purpose of Business
Business with primarily social/environmental objectives rather than profit maximization.
What is Business?
Nature and Purpose of Business
Recognizing potential future threats/opportunities and preparing responses.
What is Business?
Nature and Purpose of Business
Individual investor providing capital to startups in exchange for equity.
What is Business?
Nature and Purpose of Business
Process of starting new business from concept to launch.
What is Business?
Nature and Purpose of Business
Goals/targets business aims to achieve.
What is Business?
Nature and Purpose of Business
Formal document detailing: business concept, market analysis, financial projections, operations plan, management structu
What is Business?
Nature and Purpose of Business
Funds invested in business; financial resources.
What is Business?
Nature and Purpose of Business
Personal qualities of successful entrepreneurs: vision, risk tolerance, determination, creativity, resilience, adaptabil
What is Business?
Nature and Purpose of Business
Backup plan if primary plan fails.
What is Business?
Nature and Purpose of Business
Business objective minimizing costs while maintaining quality.
What is Business?
Nature and Purpose of Business
Generating novel ideas/solutions to problems.
What is Business?
Nature and Purpose of Business
Business objective ensuring customers receive value and are content.
What is Business?
Nature and Purpose of Business
Business moving into different products/markets beyond current focus.
What is Business?
Nature and Purpose of Business
As a business produces more, the cost per unit falls — being bigger gives you cost advantages.
What is Business?
Nature and Purpose of Business
Individual creating/running business, assuming financial risk for potential reward.
What is Business?
Nature and Purpose of Business
See Characteristics (Entrepreneurial) above.
What is Business?
Nature and Purpose of Business
Abilities supporting business success: business planning, financial management, marketing, leadership, problem-solving,
What is Business?
Nature and Purpose of Business
Process of creating/running business ventures.
What is Business?
Nature and Purpose of Business
Business ceasing operations; unable to continue.
What is Business?
Nature and Purpose of Business
Money-based rewards motivating performance: salary increases, bonus, commission, profit share, pay rises.
What is Business?
Nature and Purpose of Business
Drive to earn money/profit.
What is Business?
Nature and Purpose of Business
Business model where franchisee operates business using franchisor's brand/systems for fee/royalty.
What is Business?
Nature and Purpose of Business
Strategic goal to increase business size/revenue.
What is Business?
Nature and Purpose of Business
Running business from home.
What is Business?
Nature and Purpose of Business
Process of creating new business concepts.
What is Business?
Nature and Purpose of Business
Desire to work for oneself, control own decisions, be own boss.
What is Business?
Nature and Purpose of Business
Creating new products, services, processes, business models.
What is Business?
Nature and Purpose of Business
Innovation/entrepreneurial activity within existing organization.
What is Business?
Nature and Purpose of Business
Partnership between companies/individuals for specific project/business.
What is Business?
Nature and Purpose of Business
(funding).
What is Business?
Nature and Purpose of Business
Business primarily providing income for owner rather than seeking growth/profit maximization.
What is Business?
Nature and Purpose of Business
Legal structure protecting personal assets from business debts.
What is Business?
Nature and Purpose of Business
Gap/need in market addressable by new business.
What is Business?
Nature and Purpose of Business
Market where existing supply meets/exceeds demand; limited growth opportunity.
What is Business?
Nature and Purpose of Business
Experienced entrepreneur/professional guiding startup founder.
What is Business?
Nature and Purpose of Business
Concise statement of organization's purpose/values/long-term direction.
What is Business?
Nature and Purpose of Business
Startup; newly created business venture.
What is Business?
Nature and Purpose of Business
Non-monetary reasons for entrepreneurship: independence, ethical values, social impact, achievement, flexibility, family
What is Business?
Nature and Purpose of Business
Tendency to expect positive outcomes; characteristic of entrepreneurs.
What is Business?
Nature and Purpose of Business
Business structure of 2+ individuals owning jointly.
What is Business?
Nature and Purpose of Business
Individual's accumulated money used for business capital.
What is Business?
Nature and Purpose of Business
Company publicly traded on stock exchange.
What is Business?
Nature and Purpose of Business
Identifying/addressing business challenges creatively.
What is Business?
Nature and Purpose of Business
(see PLC).
What is Business?
Nature and Purpose of Business
Laws/rules governing business operations: company law, employment law, environmental, health/safety, consumer protection
What is Business?
Nature and Purpose of Business
Ability to recover from setbacks; persistence despite difficulties.
What is Business?
Nature and Purpose of Business
Diversifying investments/activities reducing total risk.
What is Business?
Nature and Purpose of Business
Willingness to accept probability of loss for potential gain.
What is Business?
Nature and Purpose of Business
Business objective increasing sales volume/revenue (rather than profit).
What is Business?
Nature and Purpose of Business
Working for oneself rather than employer.
What is Business?
Nature and Purpose of Business
A business that trades primarily to achieve social, environmental or community objectives, reinvesting profits into its
What is Business?
Nature and Purpose of Business
The total market value of all a company's issued shares: Share Price multiplied by Number of Shares in Issue.
What is Business?
Organisational Design and HR Flow
Payment system paying per unit produced/completed work.
Human Resource Management
Organisational Design and HR Flow
Formal credentials demonstrating knowledge/skills: degrees, diplomas, certifications, licenses.
Human Resource Management
Organisational Design and HR Flow
Process of finding and hiring new employees.
Human Resource Management
Organisational Design and HR Flow
Expenses associated with hiring: advertising, agency fees, interview time, training.
Human Resource Management
Organisational Design and HR Flow
Combined process of attracting and choosing best candidates.
Human Resource Management
Organisational Design and HR Flow
Termination of employment because job no longer needed (not employee fault).
Human Resource Management
Organisational Design and HR Flow
Keeping valuable employees in organization.
Human Resource Management
Organisational Design and HR Flow
Recognition for performance/contribution: pay, bonus, promotion, praise, development.
Human Resource Management
Organisational Design and HR Flow
Protection of employees from harm: health/safety regulations, training, equipment, hazard elimination.
Human Resource Management
Organisational Design and HR Flow
Fixed annual payment to employee divided into regular (usually monthly) payments.
Human Resource Management
Organisational Design and HR Flow
Process of choosing best candidate(s) from applicants.
Human Resource Management
Organisational Design and HR Flow
Employment arrangement working different time periods (early, late, night shifts).
Human Resource Management
Organisational Design and HR Flow
Ability to perform specific tasks/activities effectively learned through training/experience.
Human Resource Management
Organisational Design and HR Flow
Employee with advanced technical abilities requiring significant training/experience.
Human Resource Management
Organisational Design and HR Flow
Company obligations to employees beyond legal minimum: fair wages, safe conditions, development, consultation.
Human Resource Management
Organisational Design and HR Flow
Transferable interpersonal/communication abilities: teamwork, communication, problem-solving, leadership, adaptability.
Human Resource Management
Organisational Design and HR Flow
Number of subordinates reporting directly to one manager.
Human Resource Management
Organisational Design and HR Flow
Viewing employees as valuable resources generating return on investment.
Human Resource Management
Organisational Design and HR Flow
Treating employees as expenses to minimize.
Human Resource Management
Organisational Design and HR Flow
Piecework system with single rate per unit (no variation).
Human Resource Management
Organisational Design and HR Flow
Management position overseeing daily operations/team.
Human Resource Management
Organisational Design and HR Flow
Organization with many hierarchy levels; narrow span of control.
Human Resource Management
Organisational Design and HR Flow
Strategic process identifying, developing, retaining high-potential employees.
Human Resource Management
Organisational Design and HR Flow
Activities/approaches improving team cohesion, communication, trust.
Human Resource Management
Organisational Design and HR Flow
Employees working together toward shared goals.
Human Resource Management
Segmentation, Targeting and Positioning
Countries' economies mutually dependent on each other.
Marketing Management
Segmentation, Targeting and Positioning
Cost advantages from large-scale production/operations globally.
Marketing Management
Segmentation, Targeting and Positioning
Achieving objectives; doing right things.
Marketing Management
Segmentation, Targeting and Positioning
Country moving from developing toward developed status.
Marketing Management
Segmentation, Targeting and Positioning
Discharge of substances into environment; typically refers to greenhouse gases.
Marketing Management
Segmentation, Targeting and Positioning
Jobs worldwide; increasingly mobile with globalization.
Marketing Management
Segmentation, Targeting and Positioning
Using famous person to promote product/brand.
Marketing Management
Segmentation, Targeting and Positioning
Method of entering foreign market.
Marketing Management
Segmentation, Targeting and Positioning
External element affecting environment: climate, resources, pollution, sustainability.
Marketing Management
Segmentation, Targeting and Positioning
Moral principles guiding global business conduct.
Marketing Management
Segmentation, Targeting and Positioning
(European Union).
Marketing Management
Segmentation, Targeting and Positioning
Profit/loss from currency exchange rate changes.
Marketing Management
Segmentation, Targeting and Positioning
Preventing market access; trade barrier effect.
Marketing Management
Segmentation, Targeting and Positioning
Selling goods/services to foreign countries.
Marketing Management
Segmentation, Targeting and Positioning
Business selling goods/services to foreign markets.
Marketing Management
Segmentation, Targeting and Positioning
External cost/benefit not reflected in market price.
Marketing Management
Segmentation, Targeting and Positioning
Trade practice ensuring fair prices, conditions for producers (especially in developing countries).
Marketing Management
Segmentation, Targeting and Positioning
Showing preference/bias for certain parties.
Marketing Management
Segmentation, Targeting and Positioning
(Foreign Direct Investment).
Marketing Management
Segmentation, Targeting and Positioning
Rapid spread of financial crisis from one country/market to others.
Marketing Management
Segmentation, Targeting and Positioning
Worldwide system trading financial instruments: stocks, bonds, currencies, derivatives.
Marketing Management
Segmentation, Targeting and Positioning
Banking, investment, insurance, payment services.
Marketing Management
Segmentation, Targeting and Positioning
Movement of investment money; direction and quantity.
Marketing Management
Segmentation, Targeting and Positioning
Direction and quantity of goods/services traded between countries.
Marketing Management
Segmentation, Targeting and Positioning
Currency/assets held by central bank for: paying international debts, stabilizing currency, intervention capacity.
Marketing Management
Segmentation, Targeting and Positioning
Business model where franchisor licenses business to franchisee in foreign country.
Marketing Management
Segmentation, Targeting and Positioning
International trade without barriers (tariffs, quotas, restrictions).
Marketing Management
Segmentation, Targeting and Positioning
(Free Trade Zone).
Marketing Management
Segmentation, Targeting and Positioning
Complete merging of operations/systems.
Marketing Management
Segmentation, Targeting and Positioning
(Gross Domestic Product).
Marketing Management
Segmentation, Targeting and Positioning
GDP divided by population; average income per person.
Marketing Management
Segmentation, Targeting and Positioning
Politics influenced by geography; competition for resources and power.
Marketing Management
Segmentation, Targeting and Positioning
Brand recognized/valued worldwide.
Marketing Management
Segmentation, Targeting and Positioning
Business operating in multiple countries; international scope.
Marketing Management
Segmentation, Targeting and Positioning
Competition at worldwide level.
Marketing Management
Segmentation, Targeting and Positioning
Financial management at global level.
Marketing Management
Segmentation, Targeting and Positioning
Worldwide customer base for products/services.
Marketing Management
Segmentation, Targeting and Positioning
Plan for marketing products/services globally.
Marketing Management
Segmentation, Targeting and Positioning
Perspective valuing global understanding, diversity, complexity.
Marketing Management
Segmentation, Targeting and Positioning
Process of increasing worldwide integration: trade, investment, communication, culture, technology.
Marketing Management
Segmentation, Targeting and Positioning
Financial/non-financial support from government attracting business.
Marketing Management
Segmentation, Targeting and Positioning
Total income earned by country residents/companies; includes income earned abroad.
Marketing Management
Segmentation, Targeting and Positioning
Increase in economic output; real GDP growth.
Marketing Management
Segmentation, Targeting and Positioning
Expansion of market size; increasing total sales.
Marketing Management
Segmentation, Targeting and Positioning
Future opportunity for market/business expansion.
Marketing Management
Segmentation, Targeting and Positioning
Percentage increase in economic/market measure over period.
Marketing Management
Segmentation, Targeting and Positioning
Foreign nationals working temporarily in another country.
Marketing Management
Segmentation, Targeting and Positioning
(Human Development Index - already covered).
Marketing Management
Segmentation, Targeting and Positioning
Strategy reducing financial risk.
Marketing Management
Segmentation, Targeting and Positioning
Reporting structure across multiple countries; global organization design.
Marketing Management
Segmentation, Targeting and Positioning
Country where foreign business operates.
Marketing Management
Segmentation, Targeting and Positioning
Progress in human wellbeing; life expectancy, education, income.
Marketing Management
Segmentation, Targeting and Positioning
Technology enabling global communication, data processing, business operations.
Marketing Management
Segmentation, Targeting and Positioning
Buying goods/services from foreign countries.
Marketing Management
Segmentation, Targeting and Positioning
Business purchasing goods/services from foreign suppliers.
Marketing Management
Segmentation, Targeting and Positioning
Money earned by individuals/organizations/countries.
Marketing Management
Segmentation, Targeting and Positioning
How income is divided among population.
Marketing Management
Segmentation, Targeting and Positioning
Amount of money earned by individual/family/country.
Marketing Management
Segmentation, Targeting and Positioning
Motivation/reward encouraging specific behavior/outcome.
Marketing Management
Segmentation, Targeting and Positioning
Legal process establishing company as separate legal entity.
Marketing Management
Segmentation, Targeting and Positioning
Country's ability to function economically without dependence on others.
Marketing Management
Segmentation, Targeting and Positioning
Measure tracking economic variable over time.
Marketing Management
Segmentation, Targeting and Positioning
Automatic adjustment of value based on index (e.g., wage indexation to inflation).
Marketing Management
Segmentation, Targeting and Positioning
Risk suggested/shown by analysis/information.
Marketing Management
Segmentation, Targeting and Positioning
Tax paid indirectly through intermediary; typically on products.
Marketing Management
Segmentation, Targeting and Positioning
Group of businesses producing similar products/services.
Marketing Management
Segmentation, Targeting and Positioning
Basic physical systems: roads, electricity, water, communications, ports.
Marketing Management
Segmentation, Targeting and Positioning
Risk existing in situation before controls/mitigation.
Marketing Management
Segmentation, Targeting and Positioning
Resource/material entering production process.
Marketing Management
Segmentation, Targeting and Positioning
Countries' economies mutually dependent.
Marketing Management
Setting Financial Objectives and Sources of Finance
Arrangement where employees receive portion of company profits.
Financial Management
Setting Financial Objectives and Sources of Finance
Obstacles preventing business creation: lack of capital, insufficient skills, risk aversion, family obligations, market
Financial Management
Setting Financial Objectives and Sources of Finance
Intense market competition making startup success difficult.
Financial Management
Setting Financial Objectives and Sources of Finance
Business objective making highest possible profit.
Financial Management
Setting Financial Objectives and Sources of Finance
Business objective earning sufficient profit while pursuing other goals.
Financial Management
Setting Financial Objectives and Sources of Finance
Investment in early-stage businesses with growth potential.
Financial Management
Setting Financial Objectives and Sources of Finance
Raising capital through small contributions from many people, typically via online platforms.
Financial Management
Setting Financial Objectives and Sources of Finance
Reduction in asset value over time due to use, wear, age, obsolescence.
Financial Management
Setting Financial Objectives and Sources of Finance
Money actually entering minus leaving business.
Financial Management
Setting Financial Objectives and Sources of Finance
Arrangement allowing account to go negative to agreed limit.
Financial Management
Setting Financial Objectives and Sources of Finance
Plowing back company profits into business rather than distributing to shareholders.
Financial Management
Setting Financial Objectives and Sources of Finance
Profits kept in business rather than distributed to shareholders.
Financial Management
Setting Financial Objectives and Sources of Finance
Security giving right (not obligation) to buy company shares at set price within period.
Financial Management
Setting Financial Objectives and Sources of Finance
Technique determining minimum sales needed to cover all costs.
Financial Management
Setting Financial Objectives and Sources of Finance
The exact number of sales needed to cover all costs — neither profit nor loss.
Financial Management
Setting Financial Objectives and Sources of Finance
Graph showing relationship between sales volume, costs, revenue, profit.
Financial Management
Setting Financial Objectives and Sources of Finance
Financial plan allocating resources for specific period (usually year).
Financial Management
Setting Financial Objectives and Sources of Finance
Monitoring actual performance against budgets; taking corrective actions.
Financial Management
Setting Financial Objectives and Sources of Finance
Process of creating budgets; planning financial resources.
Financial Management
Setting Financial Objectives and Sources of Finance
Financial plan showing anticipated cash inflows/outflows.
Financial Management
Setting Financial Objectives and Sources of Finance
Movement of money in/out of business.
Financial Management
Setting Financial Objectives and Sources of Finance
Projection of future cash movements over period (monthly, quarterly).
Financial Management
Setting Financial Objectives and Sources of Finance
Key factors changing cash-flow: sales volume, payment terms, seasonal variation, supplier payments, capital spending, lo
Financial Management
Setting Financial Objectives and Sources of Finance
Insufficient cash to meet obligations despite profitability.
Financial Management
Setting Financial Objectives and Sources of Finance
Competitor pricing, promotion, product, distribution affecting demand.
Financial Management
Setting Financial Objectives and Sources of Finance
How much each unit sold contributes towards covering fixed costs (and then profit).
Financial Management
Setting Financial Objectives and Sources of Finance
Contribution as percentage of sales price.
Financial Management
Setting Financial Objectives and Sources of Finance
How costs change with activity levels.
Financial Management
Setting Financial Objectives and Sources of Finance
Classification of business costs.
Financial Management
Setting Financial Objectives and Sources of Finance
Expenses incurred making products: materials, direct labor, manufacturing overhead.
Financial Management
Setting Financial Objectives and Sources of Finance
(covered in 1.3).
Financial Management
Setting Financial Objectives and Sources of Finance
**Fixed costs:** unchanged by activity (rent, salaries, insurance). **Variable costs:** change with activity (materials,
Financial Management
Setting Financial Objectives and Sources of Finance
Factors affecting demand forecasts: consumer trends, economic factors, competitor actions, seasonality, marketing.
Financial Management
Setting Financial Objectives and Sources of Finance
Macro-economic factors affecting demand: GDP growth, unemployment, inflation, interest rates, exchange rates.
Financial Management
Setting Financial Objectives and Sources of Finance
Expenses unchanged by production/sales volume.
Financial Management
Setting Financial Objectives and Sources of Finance
Predicting future sales based on: historical data, market analysis, trends, competitor actions, planned marketing.
Financial Management
Setting Financial Objectives and Sources of Finance
Setting budgets based on previous year's actual figures, adjusted for expected changes.
Financial Management
Setting Financial Objectives and Sources of Finance
How many extra sales you have above break-even — your cushion against disaster.
Financial Management
Setting Financial Objectives and Sources of Finance
Income from selling products/services.
Financial Management
Setting Financial Objectives and Sources of Finance
Prediction of future sales volume/value.
Financial Management
Setting Financial Objectives and Sources of Finance
Income from product/service sales.
Financial Management
Setting Financial Objectives and Sources of Finance
Quantity of products sold in period.
Financial Management
Setting Financial Objectives and Sources of Finance
Costs with both fixed and variable components.
Financial Management
Setting Financial Objectives and Sources of Finance
Expenses changing with production/sales volume.
Financial Management
Setting Financial Objectives and Sources of Finance
Building budgets from zero; justifying each expense without reference to previous budgets.
Financial Management
Setting Financial Objectives and Sources of Finance
(Liquid Capital Ratio).
Financial Management
Setting Financial Objectives and Sources of Finance
(Statement of Financial Position).
Financial Management
Setting Financial Objectives and Sources of Finance
Time from cash outlay for materials to cash receipt from sales.
Financial Management
Setting Financial Objectives and Sources of Finance
Actual amount of cash available to business.
Financial Management
Setting Financial Objectives and Sources of Finance
Business assets convertible to cash within 12 months.
Financial Management
Setting Financial Objectives and Sources of Finance
Business obligations due within 12 months.
Financial Management
Setting Financial Objectives and Sources of Finance
Liquidity measure comparing current assets to current liabilities.
Financial Management
Setting Financial Objectives and Sources of Finance
Average time to collect payment from customers.
Financial Management
Setting Financial Objectives and Sources of Finance
Strategies for managing business borrowing.
Financial Management
Setting Financial Objectives and Sources of Finance
Profit; bottom-line income after expenses.
Financial Management
Setting Financial Objectives and Sources of Finance
Situation where business has insufficient funds to meet obligations.
Financial Management
Setting Financial Objectives and Sources of Finance
Using debt financing to increase returns on equity.
Financial Management
Setting Financial Objectives and Sources of Finance
Overall financial health of business at point in time.
Financial Management
Setting Financial Objectives and Sources of Finance
Relationship between financial figures measuring performance/position.
Financial Management
Setting Financial Objectives and Sources of Finance
Documents reporting financial position/performance: balance sheet, income statement, cash-flow statement.
Financial Management
Setting Financial Objectives and Sources of Finance
Measure of financial leverage; proportion of borrowing vs equity.
Financial Management
Setting Financial Objectives and Sources of Finance
Sales minus cost of goods sold (direct production costs).
Financial Management
Setting Financial Objectives and Sources of Finance
Gross profit as percentage of revenue.
Financial Management
Setting Financial Objectives and Sources of Finance
(Profit & Loss Account).
Financial Management
Setting Financial Objectives and Sources of Finance
Inability to pay debts when due.
Financial Management
Setting Financial Objectives and Sources of Finance
Ability to service debt from profits.
Financial Management
Setting Financial Objectives and Sources of Finance
Ability to meet short-term financial obligations; having cash/convertible assets available.
Financial Management
Setting Financial Objectives and Sources of Finance
Financial ratio measuring ability to pay short-term debts.
Financial Management
Setting Financial Objectives and Sources of Finance
(Profit for the Year).
Financial Management
Setting Financial Objectives and Sources of Finance
Net profit as percentage of revenue.
Financial Management
Setting Financial Objectives and Sources of Finance
Profit from normal business operations (excluding interest/tax).
Financial Management
Setting Financial Objectives and Sources of Finance
Operating profit as percentage of revenue.
Financial Management
Setting Financial Objectives and Sources of Finance
(Accounts Payable).
Financial Management
Setting Financial Objectives and Sources of Finance
Ability to generate profit; degree of profit earned.
Financial Management
Setting Financial Objectives and Sources of Finance
(see Income Statement).
Financial Management
Setting Financial Objectives and Sources of Finance
Examining financial statement ratios for insights.
Financial Management
Setting Financial Objectives and Sources of Finance
Profitability relative to capital invested.
Financial Management
Setting Financial Objectives and Sources of Finance
Profitability relative to shareholder investment.
Financial Management
Setting Financial Objectives and Sources of Finance
Profit/gains realized from investment/capital employed.
Financial Management
Setting Financial Objectives and Sources of Finance
(see Income Statement).
Financial Management
Setting Financial Objectives and Sources of Finance
(see Balance Sheet).
Financial Management
Setting Financial Objectives and Sources of Finance
Long-term ability to meet all financial obligations.
Financial Management
Setting Financial Objectives and Sources of Finance
(Inventory Valuation).
Financial Management
Setting Financial Objectives and Sources of Finance
Current assets minus current liabilities; funds for day-to-day operations.
Financial Management
Setting Financial Objectives and Sources of Finance
Strategies optimizing current assets/liabilities for operational efficiency.
Financial Management
Setting Financial Objectives and Sources of Finance
Removing asset from books when deemed worthless.
Financial Management
Setting Financial Objectives and Sources of Finance
Using technology/machines for tasks traditionally done by humans.
Financial Management
Setting Financial Objectives and Sources of Finance
Manufacturing specified quantity of identical products in groups.
Financial Management
Setting Financial Objectives and Sources of Finance
Process step limiting overall production capacity.
Financial Management
Setting Financial Objectives and Sources of Finance
Plans/processes ensuring organization continues operating during disruptions.
Financial Management
Setting Financial Objectives and Sources of Finance
(Cellular Manufacturing).
Financial Management
Setting Financial Objectives and Sources of Finance
(Kaizen).
Financial Management
Setting Financial Objectives and Sources of Finance
Rising long-run average costs despite increased production.
Financial Management
Setting Financial Objectives and Sources of Finance
Achieving output with minimum resources.
Financial Management
Setting Financial Objectives and Sources of Finance
(see Flexible workforce - 1.4).
Financial Management
Setting Financial Objectives and Sources of Finance
Outside factors affecting production: supplier availability, energy prices, labor availability, regulations, technology
Financial Management
Setting Financial Objectives and Sources of Finance
Percentage of products/services failing to meet standards.
Financial Management
Setting Financial Objectives and Sources of Finance
(Continuous Production).
Financial Management
Setting Financial Objectives and Sources of Finance
Predicting future production needs based on: demand forecasts, inventory levels, supplier lead times.
Financial Management
Setting Financial Objectives and Sources of Finance
(Intangible Asset).
Financial Management
Setting Marketing Objectives
The process of increasing the worth or usefulness of a product or service beyond its basic function, allowing businesses
Marketing Management
Setting Marketing Objectives
A form of paid communication used to promote products, services, or brands to target audiences through various media (TV
Marketing Management
Setting Marketing Objectives
Systematic errors that distort research results, causing them to deviate from the true picture.
Marketing Management
Setting Marketing Objectives
The identity and reputation of a product or company, comprising name, logo, design, values, and customer perception.
Marketing Management
Setting Marketing Objectives
The rivalry between businesses offering similar products/services to the same market.
Marketing Management
Setting Marketing Objectives
Something a business does better than its rivals that makes customers choose it over others.
Marketing Management
Setting Marketing Objectives
The tendency of consumers to repeatedly purchase from the same business and resist switching to competitors.
Marketing Management
Setting Marketing Objectives
Statistical characteristics of human populations including age, gender, income, education, occupation, family size, ethn
Marketing Management
Setting Marketing Objectives
A market that is constantly changing due to innovation, new competitors, changing consumer preferences, or technological
Marketing Management
Setting Marketing Objectives
Use of Information and Communication Technology to gather and analyze market data.
Marketing Management
Setting Marketing Objectives
Market research process to discover what customers require (needs - essential products) and desire (wants - preferred pr
Marketing Management
Setting Marketing Objectives
Introduction of new ideas, products, services, or ways of doing business that create value.
Marketing Management
Setting Marketing Objectives
Expansion of total market size measured by sales value or units sold.
Marketing Management
Setting Marketing Objectives
Visual representation showing competitors' positions based on two chosen characteristics (e.g., price vs quality, luxury
Marketing Management
Setting Marketing Objectives
Business approach prioritizing customer needs and wants above all else.
Marketing Management
Setting Marketing Objectives
Strategy of placing a product/brand in consumers' minds relative to competitors.
Marketing Management
Setting Marketing Objectives
Division of a market into distinct groups of consumers with similar characteristics, needs, or behaviors.
Marketing Management
Setting Marketing Objectives
Large segment of the population willing to buy a standardized product.
Marketing Management
Setting Marketing Objectives
Small segment of consumers with specific, often specialist needs underserved by mass-market competitors.
Marketing Management
Setting Marketing Objectives
Selling products to consumers via internet/e-commerce platforms rather than physical stores.
Marketing Management
Setting Marketing Objectives
Original data collected directly from sources for a specific purpose.
Marketing Management
Setting Marketing Objectives
Non-numerical primary research focusing on understanding reasons, motivations, experiences.
Marketing Management
Setting Marketing Objectives
Numerical primary research measuring how many, how often, attitudes using numbers.
Marketing Management
Setting Marketing Objectives
Strategy of making a product distinct and different from competitors through features, quality, design, service, or bran
Marketing Management
Setting Marketing Objectives
Business approach prioritizing what the company wants to make/sell based on production capability.
Marketing Management
Setting Marketing Objectives
Non-numerical information providing description, understanding, and context.
Marketing Management
Setting Marketing Objectives
Numerical information that can be measured and analyzed statistically.
Marketing Management
Setting Marketing Objectives
Probability of a known or identifiable event occurring with measurable consequences.
Marketing Management
Setting Marketing Objectives
Number of units/people selected for research study.
Marketing Management
Setting Marketing Objectives
Existing data previously collected by others for different purposes, now analyzed for new purposes.
Marketing Management
Setting Marketing Objectives
Using social media platforms to gather customer opinions, preferences, feedback, and behaviors.
Marketing Management
Setting Marketing Objectives
Situation where outcomes cannot be predicted with certainty because variables are unknown or unmeasurable.
Marketing Management
Setting Marketing Objectives
Distinctive feature(s) or benefit(s) of a product/service that differentiates it from competitors and appeals to target
Marketing Management
Setting Marketing Objectives
Paid promotional communication affecting consumer demand by raising awareness, creating desire, or persuading purchase.
Marketing Management
Setting Marketing Objectives
Products that are purchased and used together.
Marketing Management
Setting Marketing Objectives
Money available to consumers to spend on products/services.
Marketing Management
Setting Marketing Objectives
Quantity of a product consumers are willing and able to buy at different prices in a given time period.
Marketing Management
Setting Marketing Objectives
Graphical representation showing relationship between price and quantity demanded.
Marketing Management
Setting Marketing Objectives
Population characteristics (age, gender, income, education, family size) affecting demand.
Marketing Management
Setting Marketing Objectives
Unexpected, sudden events affecting supply or demand.
Marketing Management
Setting Marketing Objectives
Consumer preferences and desires for certain products changing over time.
Marketing Management
Setting Marketing Objectives
Measure of how demand changes when consumer income changes.
Marketing Management
Setting Marketing Objectives
Taxes on products paid by producers (e.g., excise duty, VAT).
Marketing Management
Setting Marketing Objectives
Interaction of supply and demand determining prices and quantities of goods/services traded.
Marketing Management
Setting Marketing Objectives
Point where quantity supplied equals quantity demanded at a particular price.
Marketing Management
Setting Marketing Objectives
Technological advances increasing productivity and efficiency.
Marketing Management
Setting Marketing Objectives
Monetary value of a product/service.
Marketing Management
Setting Marketing Objectives
Effects of price movements on supply, demand, and market equilibrium.
Marketing Management
Setting Marketing Objectives
Measure of how sensitive quantity demanded is to price changes.
Marketing Management
Setting Marketing Objectives
Understanding what PED values mean for business: If PED = -0.5 (inelastic), 10% price rise → only 5% demand fall (revenu
Marketing Management
Setting Marketing Objectives
Fluctuation in demand for products at specific times of year.
Marketing Management
Setting Marketing Objectives
Situation where quantity demanded exceeds quantity supplied at a given price.
Marketing Management
Setting Marketing Objectives
Social media influence on consumer preferences and demand.
Marketing Management
Setting Marketing Objectives
Government financial support to producers reducing production costs.
Marketing Management
Setting Marketing Objectives
Quantity of a product producers are willing and able to provide at different prices in a given time period.
Marketing Management
Setting Marketing Objectives
Graph showing supply curve (upward-sloping) and demand curve (downward-sloping) intersecting at equilibrium point.
Marketing Management
Setting Marketing Objectives
Graphical representation showing relationship between price and quantity supplied.
Marketing Management
Setting Marketing Objectives
Products that can replace each other in satisfying customer needs.
Marketing Management
Setting Marketing Objectives
Paid communication promoting products/brands to target audiences through media.
Marketing Management
Setting Marketing Objectives
Visual appeal and appearance of a product.
Marketing Management
Setting Marketing Objectives
A tool for managing your product portfolio — which products to invest in, maintain, or drop.
Marketing Management
Setting Marketing Objectives
Plan for creating, building, and managing a brand identity.
Marketing Management
Setting Marketing Objectives
Setting prices at similar levels to competitors.
Marketing Management
Setting Marketing Objectives
Production cost considerations in design.
Marketing Management
Setting Marketing Objectives
Pricing strategy adding fixed markup percentage to unit production costs.
Marketing Management
Setting Marketing Objectives
Three key elements of product design: **Function** (what it does), **Aesthetics** (how it looks), **Cost** (price to pro
Marketing Management
Setting Marketing Objectives
Making products distinctly different from competitors through unique features, quality, design, service, or brand.
Marketing Management
Setting Marketing Objectives
Path product takes from producer to consumer.
Marketing Management
Setting Marketing Objectives
Creating brands that connect with customers' emotions and values rather than just product features.
Marketing Management
Setting Marketing Objectives
Ensuring products are produced ethically: fair wages, safe conditions, environmental protection, no exploitation.
Marketing Management
Setting Marketing Objectives
Specific, measurable goals set by the marketing function that support the overall corporate objectives of the business.
Marketing Management
Setting Operational Objectives
Examination of products to ensure they meet standards before delivery to customers.
Operational Management
Setting Operational Objectives
Output produced per unit of labor (typically per employee per hour).
Operational Management
Setting Operational Objectives
(Stock).
Operational Management
Setting Operational Objectives
Spare inventory held to buffer against demand variations/supply disruptions.
Operational Management
Setting Operational Objectives
Maximum production level in period.
Operational Management
Setting Operational Objectives
Percentage of available capacity actually used.
Operational Management
Setting Operational Objectives
Inspection/testing during/after production ensuring standards.
Operational Management
Setting Operational Objectives
Unused production capacity; output below potential.
Operational Management
Setting Operational Objectives
Costs of keeping inventory: storage, insurance, obsolescence, deterioration, financing.
Operational Management
Setting Operational Objectives
How many times inventory is sold/replaced per period.
Operational Management
The Role and Importance of Stakeholders
A model showing leadership styles on a spectrum from fully autocratic to fully democratic.
Managers, Leadership and Decision Making
The Role and Importance of Stakeholders
A framework plotting stakeholders by power and interest to determine the best management approach for each group.
Managers, Leadership and Decision Making
The Role and Importance of Stakeholders
When two or more stakeholder groups have opposing interests, creating tension the business must manage.
Managers, Leadership and Decision Making
Understanding Management Decision Making
In Critical Path Analysis, the amount of time an activity can be delayed without delaying the overall project completion
Managers, Leadership and Decision Making
Understanding Management Decision Making
A focus on immediate or near-term results at the expense of long-term sustainability and investment, often driven by pre
Managers, Leadership and Decision Making
Understanding Management Decision Making
A focus on sustainable long-term business outcomes over short-term financial metrics, prioritising investment in people,
Managers, Leadership and Decision Making
Understanding Management Decision Making
The time horizon over which a business makes its strategic and financial decisions, ranging from short-term (weeks to mo
Managers, Leadership and Decision Making
Understanding Management Decision Making
A decision made by systematically gathering and analysing relevant data and research before choosing a course of action,
Managers, Leadership and Decision Making
Understanding Management Decision Making
A decision based on personal judgement, intuition, experience, or values rather than objective data or systematic analys
Managers, Leadership and Decision Making
Understanding Management Decision Making
An organisational culture centred on one or a few powerful individuals at the centre of a web of influence, who make mos
Managers, Leadership and Decision Making
Understanding Management Decision Making
An organisational culture characterised by formal rules, procedures, and clearly defined roles. Decision-making follows
Managers, Leadership and Decision Making
Understanding Management Decision Making
An organisational culture focused on completing projects and achieving specific outcomes. Teams are formed around tasks,
Managers, Leadership and Decision Making
Understanding Management Decision Making
An organisational culture where individuals prioritise their own interests and expertise over the organisation's needs.
Managers, Leadership and Decision Making
Understanding Management Decision Making
An individual or group within the organisation who has a direct interest in its activities and decisions. Includes emplo
Managers, Leadership and Decision Making
Understanding Management Decision Making
An individual or group outside the organisation who has an interest in or is affected by its activities. Includes custom
Managers, Leadership and Decision Making
Understanding Management Decision Making
A management philosophy that argues businesses should be run for the benefit of all stakeholders — employees, customers,
Managers, Leadership and Decision Making
Understanding Management Decision Making
The market price at which a single share in a company can be bought or sold on the stock exchange, reflecting investor e
Managers, Leadership and Decision Making
Understanding Management Decision Making
The application of moral principles to business decisions and behaviour, addressing what is right and wrong in commercia
Managers, Leadership and Decision Making
Understanding Management Decision Making
The structured process of planning, implementing, and embedding change within an organisation to minimise disruption and
Managers, Leadership and Decision Making
Understanding Management Decision Making
Any significant alteration to the structure, culture, processes, systems, or strategy of an organisation.
Managers, Leadership and Decision Making
Understanding Management Decision Making
A leadership style in which leaders inspire and motivate followers to achieve extraordinary outcomes by articulating a c
Managers, Leadership and Decision Making
Understanding Management Decision Making
The tendency of individuals and groups within an organisation to oppose or slow down the implementation of change, often
Managers, Leadership and Decision Making
Understanding Management Decision Making
The process of identifying and developing internal employees to fill key leadership or specialist positions in the futur
Managers, Leadership and Decision Making
Understanding Management Decision Making
Employees whose skills, knowledge, relationships, or leadership are so critical to business operations that their depart
Managers, Leadership and Decision Making
Understanding Management Decision Making
Minimal government intervention in economy.
Managers, Leadership and Decision Making
Understanding Markets and Customers
Methods to extend product life cycle in maturity/decline stages. **Product extension:** modify product (new features, fl
Marketing Management
Understanding Markets and Customers
Changing consumer preferences for styles, designs, and products.
Marketing Management
Understanding Markets and Customers
What a product does; its purpose and how well it performs its intended task.
Marketing Management
Understanding Markets and Customers
Global marketing strategy adapted to local markets.
Marketing Management
Understanding Markets and Customers
Sorting products by quality, size, or standards.
Marketing Management
Understanding Markets and Customers
Marketing strategy targeting small, specific segments with specialized needs.
Marketing Management
Understanding Markets and Customers
Selling and delivering products via internet/e-commerce.
Marketing Management
Understanding Markets and Customers
Websites (Confused.com, MoneySuperMarket) comparing prices of competitors.
Marketing Management
Understanding Markets and Customers
Method for setting prices to achieve business objectives.
Marketing Management
Understanding Markets and Customers
Process of developing product features, appearance, and function to meet customer needs and competitive requirements.
Marketing Management
Understanding Markets and Customers
Stages product goes through: **Introduction** (new, few competitors, high price, low sales), **Growth** (increasing sale
Marketing Management
Understanding Markets and Customers
Strategies to extend product life beyond maturity stage.
Marketing Management
Understanding Markets and Customers
Business approach prioritizing what company can produce.
Marketing Management
Understanding Markets and Customers
Range of all products/brands a company offers.
Marketing Management
Understanding Markets and Customers
Communication activities persuading customers to buy.
Marketing Management
Understanding Markets and Customers
Setting prices using psychological principles to influence perception.
Marketing Management
Understanding Markets and Customers
Using social platforms (Facebook, Instagram, Twitter, TikTok) for promotion, customer engagement, brand building.
Marketing Management
Understanding Markets and Customers
Business pays to be associated with events, teams, individuals, or causes.
Marketing Management
Understanding Markets and Customers
Designing and producing products minimizing environmental impact: reduced materials, recyclable packaging, ethical sourc
Marketing Management
Understanding Markets and Customers
Marketing content designed to spread rapidly through social sharing, creating massive reach with minimal cost.
Marketing Management
Understanding Markets and Customers
Designing products and processes to reduce waste: less packaging, recyclable materials, efficient production, design for
Marketing Management
Understanding Markets and Customers
Rate of employees being absent from work (illness, personal issues, disengagement).
Marketing Management
Understanding Markets and Customers
Strategies to reduce employee absences: monitoring absence patterns, addressing underlying causes, disciplinary procedur
Marketing Management
Understanding Markets and Customers
Lump sum additional payment to employees based on performance, company profits, or achievements.
Marketing Management
Understanding Markets and Customers
Structure where decision-making is concentrated at senior management level.
Marketing Management
Understanding Markets and Customers
Negotiation between employer and employee representatives (unions) regarding wages, conditions, benefits.
Marketing Management
Understanding Markets and Customers
Management seeking employee input on decisions affecting them.
Marketing Management
Understanding Markets and Customers
Structure where decision-making is distributed to lower management/staff levels.
Marketing Management
Understanding Markets and Customers
Termination of employment due to employee misconduct or poor performance.
Marketing Management
Understanding Markets and Customers
Reducing workforce size to cut costs or restructure.
Marketing Management
Understanding Markets and Customers
Productivity of employees measured by: output per hour worked, cost per unit produced, turnaround time.
Marketing Management
Understanding Markets and Customers
Legal agreement between employer and employee outlining: job role, salary, hours, rights, responsibilities, conditions.
Marketing Management
Understanding Markets and Customers
Interaction and agreement between employer and employee.
Marketing Management
Understanding Markets and Customers
Organization with few hierarchy levels; many employees report to one manager.
Marketing Management
Understanding Markets and Customers
Employment arrangement allowing employees to vary working hours around core times.
Marketing Management
Understanding Markets and Customers
Employment practices using varied staffing arrangements.
Marketing Management
Understanding Markets and Customers
Small group (8-12) of target customers/employees discussing topics under moderation.
Marketing Management
Understanding Markets and Customers
Marketing Management
Understanding Markets and Customers
Various arrangements allowing employees flexibility: part-time, flexible hours, job-sharing, homeworking, compressed wee
Marketing Management
Understanding Markets and Customers
Main purpose and responsibilities of a job role.
Marketing Management
Understanding Markets and Customers
Formal process for employees to raise complaints about treatment, conditions, or management.
Marketing Management
Understanding Markets and Customers
Arrangement of positions/people by authority level.
Marketing Management
Understanding Markets and Customers
Employment arrangement where employees work from home (full-time or part-time).
Marketing Management
Understanding Markets and Customers
Power/influence held due to: expertise, respect, personality rather than official position.
Marketing Management
Understanding Markets and Customers
Marketing Management
Understanding Markets and Customers
Cost of borrowing money; paid to lenders.
Marketing Management
Understanding Markets and Customers
Subjective judgment in interviews affecting fairness.
Marketing Management
Understanding Markets and Customers
Expanding job scope horizontally; adding more tasks at same level.
Marketing Management
Understanding Markets and Customers
Two part-time employees splitting one full-time position.
Marketing Management
Understanding Markets and Customers
Expenses related to employees: wages, salaries, benefits, training, recruitment, compliance.
Marketing Management
Understanding Markets and Customers
Business/process requiring large workforce relative to capital/technology.
Marketing Management
Understanding Markets and Customers
Renting equipment/property rather than buying.
Marketing Management
Understanding Markets and Customers
Acquisition of knowledge and skills through: training, experience, observation, practice.
Marketing Management
Understanding Markets and Customers
Laws regulating employment: employment contracts, minimum wage, working hours, health/safety, discrimination, data prote
Marketing Management
Understanding Markets and Customers
Management structure where authority flows down line from senior to junior levels.
Marketing Management
Understanding Markets and Customers
Running/controlling business operations achieving objectives.
Marketing Management
Understanding Markets and Customers
Manufacturing large quantities of identical products using standardized processes.
Marketing Management
Understanding Markets and Customers
Organization structure combining functional and project-based reporting.
Marketing Management
Understanding Markets and Customers
Experienced person (mentor) guiding less-experienced person (mentee) on job, career, development.
Marketing Management
Understanding Markets and Customers
Training employees to perform multiple different job roles.
Marketing Management
Understanding Markets and Customers
Motivation methods not involving money: recognition, development opportunities, autonomy, flexible working, interesting
Marketing Management
Understanding Markets and Customers
Pricing strategy setting a high initial price when launching a new product, then gradually reducing it over time as comp
Marketing Management
Understanding Markets and Customers
Pricing strategy setting a deliberately low initial price to gain market share quickly, then raising the price once the
Marketing Management
Understanding Markets and Customers
Pricing strategy setting prices very low — often below cost — with the deliberate intent of driving competitors out of t
Marketing Management
Understanding Markets and Customers
The using up of natural resources (e.g. fossil fuels, rare minerals, forests) faster than they can be replenished, often
Marketing Management
Understanding Markets and Customers
Business-to-Business marketing — promoting products or services sold from one business to another rather than to individ
Marketing Management
Understanding Markets and Customers
Business-to-Consumer marketing — promoting products or services directly to individual end consumers.
Marketing Management
Understanding Markets and Customers
The study of how individuals make decisions to spend their available resources (time, money, effort) on consumption-rela
Marketing Management
Understanding Markets and Customers
Total value or volume of products sold in market.
Marketing Management
Understanding Markets and Customers
Strategic tool showing growth strategies based on product/market combinations.
Marketing Management
Understanding Markets and Customers
Product with high market share in low-growth market.
Marketing Management
Understanding Markets and Customers
Ansoff's Matrix strategy: entering new products and new markets.
Marketing Management
Understanding Markets and Customers
Product with low market share in low-growth market.
Marketing Management
Understanding Markets and Customers
Percentage of total market sales/units held by business.
Marketing Management
Understanding Markets and Customers
Product with low market share in high-growth market.
Marketing Management
Understanding Markets and Customers
The extent to which consumers can identify and recall a brand from its name, logo, design, or other distinguishing featu
Marketing Management
Understanding Markets and Customers
(Association of Southeast Asian Nations).
Marketing Management
Understanding Markets and Customers
Account recording all economic transactions between country and rest of world.
Marketing Management
Understanding Markets and Customers
Movement of investment money between countries.
Marketing Management
Understanding Markets and Customers
Employment of children under legal working age in unacceptable conditions.
Marketing Management
Understanding Markets and Customers
Historical period of colonization; establishing control over territories.
Marketing Management
Understanding Markets and Customers
Economic principle that countries benefit from specializing in products with lowest opportunity cost.
Marketing Management
Understanding Markets and Customers
Ability to compete in global markets.
Marketing Management
Understanding Markets and Customers
Customers in markets worldwide; increasingly interconnected through: travel, internet, media, global brands.
Marketing Management
Understanding Markets and Customers
External environment affecting global business.
Marketing Management
Understanding Markets and Customers
Tendency of consumer preferences becoming similar globally.
Marketing Management
Understanding Markets and Customers
Competing through lower costs than competitors.
Marketing Management
Understanding Markets and Customers
Specialized skill developed through training and experience.
Marketing Management
Understanding Markets and Customers
Buying/selling across country borders.
Marketing Management
Understanding Markets and Customers
Modifying business approach to align with local culture.
Marketing Management
Understanding Markets and Customers
Variations in values, behaviors, communication styles between cultures.
Marketing Management
Understanding Markets and Customers
Existence of multiple cultures within organization/market.
Marketing Management
Understanding Markets and Customers
Medium of exchange; money of country.
Marketing Management
Understanding Markets and Customers
Uncertainty from exchange rate fluctuations.
Marketing Management
Understanding Markets and Customers
What customers want globally; varying by country/culture.
Marketing Management
Understanding Markets and Customers
Reduction in shock transmission between countries.
Marketing Management
Understanding Markets and Customers
Risk of debtor inability to repay debt.
Marketing Management
Understanding Markets and Customers
Economy heavily reliant on specific products/markets/countries.
Marketing Management
Understanding Markets and Customers
Markets trading financial instruments (futures, options, swaps) derived from underlying assets.
Marketing Management
Understanding Markets and Customers
Country with lower income, less industrialized, often lower HDI.
Marketing Management
Understanding Markets and Customers
Process of economic, social, technological progress.
Marketing Management
Understanding Markets and Customers
(HDI).
Marketing Management
Understanding Markets and Customers
Making product unique in global markets.
Marketing Management
Understanding Markets and Customers
Toward what global markets business aims.
Marketing Management
Understanding Markets and Customers
Reduction in international trade/integration.
Marketing Management
Understanding Markets and Customers
Getting products to customers across countries.
Marketing Management
Understanding Markets and Customers
Difference/separation increasing over time.
Marketing Management
Understanding Markets and Customers
Home country market where business primarily operates.
Marketing Management
Understanding Markets and Customers
Selling products at prices below domestic prices in foreign markets.
Marketing Management
Understanding Markets and Customers
Process of countries becoming economically linked through: trade agreements, shared markets, monetary union.
Marketing Management