1.3 and 1.4 Business Definitions Flashcards

Front

Niche

Back

A small segment of a market.

Front

Objective

Back

A target that is measurable and has a given timescale.

Front

Labour Productivity

Back

Measures the output per time period of an employee.

Front

Corporate Objective

Back

Is a target set for the business as a whole.

Front

Market Share

Back

The portion of a market controlled by a particular company or product.

Front

Cash Flow

Back

Movement of cash into and out of a business over a time period.

Front

Ethics

Back

Moral principles that govern a business’s behavior.

Front

Social Responsibility

Back

A philosophy under which businesses consider the interests of all groups in society as a central part of their decision-making.

Front

Mission Statement

Back

A formal summary of the aims and values of a company.

Front

Aim

Back

A long-term goal that determines the objectives an organisation sets itself.