passing responsibility to perform tasks to employees

lower down in the organisation.

(a)  

often a large company; owned by

shareholders who have limited liability. The company can sell

its shares to the general public.

(a)  

the collection of first-hand data for the

specific needs of the firm.

(a)  

the pattern of sales of a product from

introduction to its withdrawal from the market.

(a)  

ratio between liquid assets and current liabilities .

(a)  

the cost of producing a single unit of output.

(a)  

selling a product for more than it cost to

produce it.

(a)  

provision of finance by a bank which the business

will repay with interest over an agreed period of time.

(a)  

the level of output where revenue equals total costs;

the business is making neither profit nor loss.

(a)  

a newly formed business. They usually

start small, but some might grow to become much

bigger.

(a)  

a production process using a high quantity of

capital equipment compared with labour input.

(a)  

an estimate of the future cash inflows and

outflows of a business.

(a)  

the route through which authority is

passed down through an organisation.

(a)  

payment to sales staff based on the value of the

items they sell.

(a)  

the final user of a product.

(a)  

financing a business idea by obtaining small

amounts of capital from a large number of people, most often

using the internet and social media networks.

(a)  

debts of the business which it expects

to pay before the date of the next statement of financial

position.

(a)  

the costs of purchasing the goods used to make

the products sold.

(a)  

reducing the size of the hierarchy by removing one

or more levels - most often middle management.

(a)  

the quantity of goods and services consumers are

willing and able to buy.

(a)  

factors that cause average costs to rise as

the scale of operations increases.

(a)  

termination by the employer because the employee

has broken company rules or is not performing work to the

required standard.

(a)  

an individual who takes the financial risk of

starting and managing a new business .

(a)  

filling a vacant post with somebody not

already employed in the business.

(a)  

costs that do not change with output.

(a)  

a business system where entrepreneurs buy the right

to use the name, logo and product of an existing business.

(a)  

non-cash rewards often used to recruit or

retain employees and to recognise the status of certain

employees.

(a)  

the process by which countries are connected

with each other because of the trade of goods and services.

(a)  

the difference between revenue and cost of sales.

(a)  

the number oflevels in an organisational structure.

(a)  

a financial statement which records the

revenue, costs and profits of a business for a given period

of time.

(a)  

the stock of raw materials, work-in-progress and

finished goods held by a business.

(a)  

a list of the key points about a job, job title, key

duties, responsibilities and accountability.

(a)  

organising work so that employees are

encouraged to use their full abilities.

(a)  

the rate at which employees leave a business.

(a)  

the shareholders in a limited liability company

which fails only risk losing the amount they have invested in

the company and not any of their personal wealth.

(a)  

the process of collecting, recording and

analysing data about the customers, competitors and market

for a product.

(a)  

dividing the whole market into segments

by consumer characteristics and then targeting different

products to each segment.

(a)  

the amount of money made available by

a business for its marketing activities during a particular

period of time.

(a)  

small amounts of capital loaned to entrepreneurs

in countries where business finance is often difficult to

obtain. These loans are usually repaid after a relatively short

period of time where the owners have unlimited liability for

any debts of the business.

(a)  

an organisation that has operations in

more than one country.

(a)  

resources owned by a business

which will be used for a period longer than one year, for

example buildings and machinery.

(a)  

training that takes place away from the

workplace, for example at college, university or a specialist

training provider's premises.

(a)  

the benefit that could have been gained from

an alternative use of the same resource.

(a)  

an agreement with the bank which allows a business

to spend more money than it has in its account up to an

agreed limit. The loan has to be repaid within 12 months.

(a)  

a business formed by two or more people who will

usually share responsibility for the day-to-day running of the

business. Partners usually invest capital in the busines s and

will share profits.

(a)  

a list of the qualifications, skills,

experience and personal qualities looked for in a successful

app licant.

(a)  

measures by how much demand

(sales) for a product changes when there is a change in

its price.

(a)  

often a large company; owned by

shareholders who have limited liability. The company can sell

its shares to the general public.

(a)  

checking the quality of goods through inspection.

(a)  

termination of employment by the employer

because the job is no longer needed.

(a)  

a representative sample of the target market selected to

take part in market research.

(a)  

firms that process and manufacture goods

from natural resources.

(a)  

a business with social objectives that reinvests

most of its profits back into the business or into benefiting

society at large.

(a)  

an individual or group which has an interest

in a business because they are affected by its activities

and decisions.

(a)  

an accounting statement that

records the assets, liabilities and owner's equity of a business

at a particular date.

(a)  

the amount a business owes to its suppliers for

goods bought on credit.

(a)  

the special feature of a product that sets it

apart from competitors' products.

(a)  

costs that change in direct proportion to output.

(a)  

a business that buys products in bulk from

producers and then sells them to retailers.

(a)  

the capital needed to finance the day-to-day

running expenses and pay the short -term debts of a business.

(a)  

a physical limit on the quantity of goods that can be

imported and exported.

(a)  

organisations of like-minded people who put

pressure on businesses and the government to change their

policies to reach a predetermined objective

(a)  

the amount paid by the customer to the supplier when

buying a good or service.

(a)  

the factors that must be present in the

workplace to prevent job dissatisfaction.

(a)  

the rate at which employees leave a business

(a)  

the production of very large quantities of

identical goods using a continuously moving process.

(a)  

one where all the important decisionmaking

power is held at head office, or the centre.

(a)  

the rate at which one country's currency can be

exchanged for that of another.

(a)