Unit 2 Flash cards

Front

What is the formula for calculating market share percentage?

Back

Market share % = Company sales / Total market sales × 100.

Front

What is the definition of market share?

Back

Market share is the portion of a market controlled by a particular company or product.

Front

How can a company increase its market share?

Back

A company can increase its market share by improving product quality, reducing prices, or enhancing marketing efforts.

Front

What is the significance of market share in business?

Back

Market share is significant as it indicates a company's competitiveness and market position, influencing investment and strategic decisions.

Front

Social enterprises

Back

social objectives as well as an aim to make a profit to reinvest back into the business.

SOCIAL ECONOMIC AND ENVIRONMENTAL

Front

Motivation

Back

employees want to work hard and work effectively for the business.

Front

Two benefits of well-motivated workforce

Back

high output per worker – which helps to keep costs low and increase profits

willingness to accept change

Front

Impact of unhappy workers

Back

do not work very effectively--low output-lower profits

Front

Social needs at work

Back

Supportive colleagues and manager

Front

Bonus

Back

an additional amount of payment above basic pay as a reward for good work.