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WorksheetsVCE BM U3 AOS1 Vocabulary
Total questions: 58
Worksheet time: 3hrs 54mins
a manager making decisions and directing employees without any input from them
Autocratic management style
Consultative management style
Persuasive management style
Laissez-faire management style
goals a business intends to achieve
Business objectives
Decision-making
Rituals
Policies
one person having concentrated authority to make decisions
Centralised control
Sole trader
Stakeholders
Proprietor
a manager's ability to clearly exchange information with employees and relevant stakeholders
Communicating
Consultative management style
Policies
Vision
the direction of the transfer of information between managers and employees
Communication flow
Corporate culture
Franchise
Mission statement
the portion of profits a business pays to the government for public services such as the police, courts and fire services
Company tax
External stakeholders
Shares
Dividends
the terms that an employee and employer agree to including job responsibilities, hours of work, dress code and leave entitlements
Conditions
Award
Decision-making
Real corporate culture
a manager seeking input from employees on business decisions but making the final decision themselves
Consultative management style
Participative management style
Autocratic management style
Laissez-faire management style
the shared values and behaviours practised by managers and employees within a business
Corporate culture
Official corporate culture
Business objectives
Rituals
the ethical conduct of a business beyond legal obligations to improve the social, economic and environmental outcomes of stakeholders
Corporate social responsibility
Official corporate culture
Mission statement
Vested interest
the sums of money a business owes to banks, suppliers or even customers
Debts
Dividends
Unlimited liability
Wages
a manager's ability to determine a suitable course of action for the business from a range of alternatives
Decision-making
Human resources as an area of management
Vested interest
Communicating
the manager of a particular area of a company often selected for their expertise
Director
Partnership
Proprietor
Stakeholders
regular sums of money paid out to shareholders from a business’s profit
Dividends
Company tax
Expenses
Wages
the alignment to current moral standards
Ethically
Real corporate culture
Social enterprise
Vested interest
the costs of running a business
Expenses
Company tax
Debts
Revenue
groups that are outside a business but are concerned or affected by its activities including customers, suppliers and the general community
External stakeholders
Internal stakeholders
Public listed company
Franchise
handles the monetary requirements of a business
Finance as an area of management
Company tax
Incorporated
Sales and marketing as an area of management
a business model that licenses the business’s name, product and procedures to people outside the business
Franchise
Government business enterprise
Official corporate culture
Public listed company
individuals who become business owners by purchasing the right to trade using another established business’s brand, products and processes
Franchisees
Business mentor
Entrepreneur
Manager
a profit driven business that is owned by but managed separately from the government
Government business enterprise
Internal stakeholders
Public listed company
Social enterprise
establishes and manages the relationship the business has with its employees, including their hiring, training and termination
Human resources as an area of management
Finance as an area of management
Operations as an area of management
Technology support as an area of management
a business being established as a separate legal entity from the owners
Incorporated
Unincorporated
Public listed company
Unlimited liability
groups who have a direct financial share or are employed by the business including owners, board of directors, investors, shareholders and employees
Internal stakeholders
External stakeholders
Dividends
Proprietor
a manager's ability to interact positively with employees to create and maintain professional relationships
Interpersonal
Communicating
Laissez-faire management style
Vision
a manager communicating business objectives to employees and allowing them to make decisions independently
Laissez-faire management style
Participative management style
Persuasive management style
Consultative management style
a manager's ability to motivate employees to work towards business objectives
Leading
Planning
Communicating
Decision-making
the protection of a shareholder’s personal assets against any business debt
Limited liability
Unlimited liability
Unincorporated
Sole trader
a business’s percentage of total sales within an industry
Market share
Franchise
Profits
Revenue
a formal summary of the core focus of a business apart from profit
Mission statement
Planning
Vision
Rituals
the shared values and beliefs desired by a business and expressed through elements such as formal rules and symbols
Official corporate culture
Real corporate culture
Corporate culture
Vision statement
produces the goods or services that a business sells to customers
Operations as an area of management
Human resources as an area of management
Technology support as an area of management
Sales and marketing as an area of management
a manager communicating and discussing information with employees in order to make decisions together
Participative management style
Persuasive management style
Consultative management style
Autocratic management style
a type of business owned by two to 20 owners
Partnership
Sole trader
Private limited company
Public listed company
a manager making decisions and communicating the reasons for those decisions to employees without their input
Persuasive management style
Consultative management style
Participative management style
Laissez-faire management style
the portion of an individual’s earnings that is paid to a government for public services such as roads, schools and hospitals
Personal income tax
Company tax
Revenue
Profit
a manager's ability to establish objectives and strategies to achieve them
Planning
Communicating
Decision-making
Leading
an incorporated business with at least one director and up to 50 selected shareholders
Private limited company
Public listed company
Partnership
Social enterprise
the formal and written rules of a business
Policies
Rituals
Real corporate culture
Vision statement
the amount or money remaining after all expenses are deducted from a business’s income
Profits
Revenue
Company tax
Dividends
the owner of a business
Proprietor
Stakeholder
Shares
Director
an incorporated business that can sell shares in an open market to an unlimited number of shareholders
Public listed company
Private limited company
Partnership
Social enterprise
shared values and behaviours that are actually practised by employees and managers and expressed through informal rules and habits
Real corporate culture
Official corporate culture
Ethically
Corporate social responsibility
the amount of money a business makes from its normal business activities
Revenue
Profits
Expenses
Company tax
practices within a business that occur regularly
Rituals
Vision
Mission
Ethically
promotes and sells the business's goods or services to customers
Sales and marketing as an area of management
Technology support as an area of management
Operations as an area of management
Human resources as an area of management
the value of a single share of a company that it can be bought or sold for
Share price
Dividends
Incorporated
Public listed company
the units of ownership of a business that it sells to raise funds
Shares
Stakeholders
Wages
Debts
a business that aims to make a profit and improve the community or environment
Social enterprise
Government business enterprise
Public listed company
Corporate social responsibility
a business structure owned and operated by a single person
Sole trader
Partnership
Private limited company
Franchise
individuals or groups that have a vested interest in the performance and activities of a business, for reasons including but not limited to partly owning a business due to purchased company shares
Stakeholders
External stakeholders
Vested interest
Operations as an area of management
installs automated equipment, machinery and devices within the business and provides assistance to employees on the use of these technologies
Technology support as an area of management
Human resources as an area of management
Operations as an area of management
Sales and marketing as an area of management
an owner and business being viewed as a single legal entity
Unincorporated
Incorporated
Limited liability
Sole trader
an owner has complete responsibility for a business' debts
Unlimited liability
Limited liability
Public listed company
Incorporated
a strong connection to a business that can lead to personal gain or benefit
Vested interest
Stakeholders
Planning
Decision-making
the aspirational purpose of a business for owners, managers and employees
Vision
Corporate social responsibility
Corporate culture
Social enterprise
a formal summary of a business’s longer term objective
Vision statement
Corporate social responsibility
Ethically
Planning
regular payments of money earned by employees for work or services completed, typically paid on a weekly or monthly basis
Wages
Expenses
Dividends
Revenue
