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