Business

This class was created by Brainscape user Millie Hardy.

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Millie Hardy
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Decks in this class (161)

Exam Techniques
4 mark numeracy marks 1,
4 mark written marks 2,
10 marker marks 3
6  cards
Formulas
Market share equation 1,
Ped equation 2,
Yed equation 3
27  cards
The Market(1.1.1)
What is a mass market 1,
What is a niche market 2,
What is branding 3
31  cards
Key terms (1.1.1)
Brand definition 1,
Competition definition 2,
Competitive market definition 3
18  cards
Market Research(1.1.2)
What is market research 1,
What is product orientation 2,
What is market orientation 3
32  cards
Key terms (1.1.2)
Biased questions definition 1,
Consumer behaviour definition 2,
Databases definition 3
25  cards
Market Positioning(1.1.3)
What is differentiation 1,
What is market postioning 2,
Four ways of market positioning 3
15  cards
Key terms (1.1.3)
Added value definition 1,
Competitive advantage definition 2,
Differentiation definition 3
6  cards
Demand(1.2.1)
What is demand 1,
What are complementary goods 2,
What are substitute goods 3
12  cards
Key terms (1.2.1)
Complementary goods definition 1,
Consumer income definition 2,
Demand definition 3
7  cards
Supply(1.2.2)
What is supply 1,
What is subsidy 2,
What is the relationship between ...
12  cards
Key terms (1.2.2)
Government subsidies definition 1,
Indirect taxes definition 2,
Supply definition 3
3  cards
Markets(1.2.3)
Blank 1
1  cards
Key terms (1.2.3)
Equilibrium price 1,
Non price factor 2,
Shortage in markets 3
4  cards
Price Elasticity of Demand-PED(1.2.4)
What is ped 1,
What is price elastic 2,
What is price inelastic 3
16  cards
Key terms (1.2.4)
Luxury 1,
Necessity 2,
Price elastic 3
5  cards
Income Elasticity of Demand-YED(1.2.5)
What is yed 1,
Yed calculation 1,
Positive yed value 2
15  cards
Key terms (1.2.5)
Income elasticity of demand defin...,
Inferior good definition 2
2  cards
Product or Service Design(1.3.1)
What is the marketing mix 1,
What are the four p s 2,
What do the four p s do 3
18  cards
Key terms(1.3.1)
Marketing mix definition 1,
Social trends definition 2,
Aesthetic definition 3
12  cards
Branding and Promotion(1.3.2)
What does promotion mean 1,
What does public relations mean 2,
What methods are both branding an...
23  cards
Key terms(1.3.2)
Advertising definition 1,
Customer loyalty definition 2,
Digital communications definition 3
16  cards
Pricing Strategies(1.3.3)
What are pricing strategies 1,
What is competitive pricing 2,
When is competitive pricing effec...
31  cards
Key terms(1.3.3)
Competitive pricing definition 1,
Cost plus pricing definition 2,
Penetration pricing definition 3
8  cards
Distribution(1.3.4)
What is distribution 1,
What is retailing 2,
What is e tailing 3
26  cards
Key terms(1.3.4)
Channels of distribution definiti...,
Distribution definition 2,
Distribution channels definition 3
11  cards
Marketing startegy(1.3.5)
What is the product life cycle 1,
What happens to the level of cash...,
What is marketing strategy 3
31  cards
Key terms(1.3.5)
Boston matrix definition 1,
Business to business b2b definiti...,
Business to consumer b2c definiti...
10  cards
Approaches to staffing(1.4.1)
Introduction to staffing 1,
What will good staffing and suppo...,
Staff as an asset vs cost 3
28  cards
Key terms(1.4.1)
Collective bargaining definition 1,
Dismissal definition 2,
Employer employee relations defin...
11  cards
Recruitment selection and training(1.4.2)
What is recruitment 1,
What is the goal of recruitment 2,
What is selection 3
27  cards
Key terms(1.4.2)
External recruitment definition 1,
Induction training definition 2,
Internal recruitment definition 3
7  cards
Organisational design(1.4.3)
What is an organisational structu...,
Organisational chart diagram 2,
What is chain of command 3
20  cards
Key terms(1.4.3)
Centralised structure definition 1,
Chain of command definition 2,
Decentralised structure definition 3
9  cards
Motivation and theory in practice(1.4.4)
Importance of employee motivation...,
Four key motivation theories 2,
In maslows what are the five sets...
15  cards
Key terms(1.4.4)
Bonus definition 1,
Commission definition 2,
Consultation definition 3
22  cards
Leadership(1.4.5)
What is leadership in business 1,
What makes a good leader 2,
Leadership manager 3
20  cards
Key terms(1.4.5)
Autocratic leadership definition 1,
Democratic leadership definition 2,
Laissez faire definition 3
6  cards
Role of an entrepreneur(1.5.1)
What is an entrepreneur 1,
What do entrepreneurs do 2,
Entrepreneur organise resources 3
10  cards
Key terms(1.5.1)
Entrepreneur definition 1,
Entrepreneurship definition 2,
Resilience definition 3
4  cards
Entrepreneurial motives and characteristics(1.5.2)
Entrepreneurial skills required 1,
Entrepreneurial characteristics r...,
Reasons why people set up busines...
9  cards
Key terms(1.5.2)
Entrepreneurial characteristics d...,
Entrepreneurial motive definition 2,
Ethical stance definition 3
7  cards
Business objectives(1.5.3)
Business survival 1,
Business survival problems upon i...,
Business profit maximisation 3
10  cards
Key terms(1.5.3)
Business objective definition 1,
Cost efficiency definition 2,
Customer satisfaction definition 3
9  cards
Forms of business(1.5.4)
Forms of a business 1,
What is a sole trader 2,
Sole trader advantages 3
24  cards
Key terms(1.5.4)
Franchise definition 1,
Franchising definition 2,
Lifestyle business definition 3
9  cards
Business choices(1.5.5)
What is an opportunity cost 1,
Opportunity cost example 2,
What is a trade off 3
5  cards
Key terms(1.5.5)
Opportunity definition 1,
Trade off definition 2
2  cards
Entrepreneur to leader(1.5.6)
Challenges with moving from entre...,
Leader traits 2,
Entrepreneur traits 3
10  cards
Key terms(1.5.6)
Leader definition 1
1  cards
Internal finance(2.1.1)
What is internal finance 1,
Three main sources of internal fi...,
Why do business owners often pref...
15  cards
Key terms(2.1.1)
Economic variables definition 1,
Internal finance definition 2,
Personal savings owners capital d...
5  cards
External finance(2.1.2)
What is external finance 1,
Sources of external finance 2,
Family and friends external finan...
44  cards
Key terms(2.1.2)
Bank loan definition 1,
Business angel definiton 2,
Crowdfunding definition 3
12  cards
Liability(2.1.3)
Limited liability 1,
Unlimited liability 2,
Why is finance needed liability 3
7  cards
Key terms(2.1.3)
Liability definition 1,
Limited liability definition 2,
Unlimited liability definition 3
3  cards
Planning(2.1.4)
Why may a business need to create...,
What is a business plan 2,
Business plan planning 3
10  cards
Key terms(2.1.4)
Business plan definition 1,
Cash flow definition 2,
Cash inflows definition 3
8  cards
Sales forecasting(2.2.1)
What is sales forecasting 1,
Sales forecasting 2,
How might a sales forecast be used 3
16  cards
Key terms(2.2.1)
Consumer trends definition 1,
Economic uncertainty definition 2,
Sales forecast definition 3
3  cards
Sales revenue and costs(2.2.2)
What is sales volume 1,
Sales volume sales revenue and co...,
What is sales revenue 3
14  cards
Key terms(2.2.2)
Average cost definition 1,
Fixed costs definition 2,
Revenue definition 3
6  cards
Break even(2.2.3)
What is contribution 1,
Contribution equation 2,
What is break even 3
7  cards
Key terms(2.2.3)
Break even definition 1,
Unit contribution definition 2,
Margin of safety definiton 3
3  cards
Budgeting(2.2.4)
What is a budget 1,
The key purposes of budgeting 2,
Control and monitoring budgeting 3
18  cards
Key terms (2.2.4)
Adverse definition 1,
Budget definition 2,
Favourable variance definition 3
6  cards
Profit (2.3.1)
What is profit 1,
Profit 2,
Gross profit equation 3
26  cards
Key terms (2.3.1)
Cash definition 1,
Cost of sales definition 2,
Gross profit definition 3
12  cards
Liquidity(2.3.2)
What is liquidity 1,
Net assets calculation 2,
Current ratio 3
15  cards
Key terms(2.3.2)
Acid ratio test definition 1,
Assets definition 2,
Capital definition 3
15  cards
Business failure(2.3.3)
What is business failure 1,
What are internal factors 2,
What are external factors 3
15  cards
Key terms (2.3.3)
External causes for business fail...,
Financial factors for business fa...,
Internal causes for business fail...
5  cards
Production and productivity(2.4.1)
What is production 1,
What are goods 2,
What are services 3
38  cards
Key terms(2.4.1)
Batch production definition 1,
Capital intensive definition 2,
Cell production definition 3
9  cards
Capacity utilisation(2.4.2)
What is capacity utilisation 1,
Capital utilisation 2,
Capacity utilisation equation 3
10  cards
Key terms(2.4.2)
Capacity utilisation definition 1,
Downsizing definition 2,
Full capacity definition 3
5  cards
Stock control(2.4.3)
What is maximum stock level 1,
What is reorder level 2,
What is minimum stock level 3
20  cards
Key terms(2.4.3)
Buffer stock definition 1,
Inventory definition 2,
Just in time jit definition 3
12  cards
Quality management(2.4.4)
What does quality mean 1,
What is quality control 2,
Quality control advantages 3
16  cards
Key terms(2.4.4)
Kaizen continuous improvement def...,
Quality definition 2,
Quality assurance definition 3
7  cards
Economic influences(2.5.1)
What is inflation 1,
What is the consumer price index 2,
Problems caused by inflation 3
34  cards
Key terms(2.5.1)
Appreciation definition 1,
Barriers to entry definition 2,
Boom peak definition 3
16  cards
Legislation(2.5.2)
What is legislation 1,
Legislation effects on businesses 2,
What is consumer protection legis...
21  cards
Key terms(2.5.2)
Consumer legislation definition 1,
Consumer protection legislation d...,
Discrimination definition 3
8  cards
Competitive environment(2.5.3)
What is competitive environment 1,
Competitive environment 2,
What is market size competitive e...
4  cards
Key terms(2.5.3)
Market structure definition 1
1  cards
Corporate objectives (3.1.1)
Aims and objectives 1,
Hierarchy corporate objectives 2,
What are aims 3
8  cards
Key terms (3.1.1)
Corporate aims definition 1,
Corporate objectives definition 2,
Critical appraisal definition 3
4  cards
Theories of corporate strategy (3.1.2)
Development of corporate strategy 1,
Ansoff matrix 2,
Ansoff matrix categories 3
25  cards
Key terms (3.1.2)
Ansoff matrix definition 1,
Architecture origin definition 2,
Cost leadership definition 3
12  cards
SWOT analysis (3.1.3)
What is swot analysis 1,
Understanding swot analysis 2,
Swot strengths 3
4  cards
Key terms (3.1.3)
Swot analysis definiton 1
1  cards
Impact of external influences (3.1.4)
What does pestle stand for 1,
What are political factors 2,
Political factors includes things...
37  cards
Key terms (3.1.4)
Economic factors definition 1,
Environmental factors definition 2,
Legal factors definition 3
6  cards
Growth (3.2.1)
What are internal economies of sc...,
Why does internal economies of sc...,
Internal economies of scale examp...
28  cards
Key terms (3.2.1)
Diseconomies of scale definition 1,
Economies of scale definition 2,
External economies of scale defin...
10  cards
Mergers and takeovers (3.2.2)
Reasons for mergers and takeovers 1,
What is organic growth 2,
Organic growth 3
29  cards
Key terms (3.2.2)
Horizontal integration defintion 1,
Merger definition 2,
Takeover definiton 3
4  cards
Organic growth (3.2.3)
What is organic growth 1,
Organic growth 2,
Examples of organic growth 3
15  cards
Key terms (3.2.3)
Inorganic or external growth defi...,
Organic or internal growth defini...
2  cards
Reasons for staying small (3.2.4)
Small business survival in compet...,
Reasons for staying small 2,
Product differentiation and usps 3
12  cards
Key terms (3.2.4)
E commerce definition 1
1  cards
Quantitative sales forecasting (3.3.1)
What is a sales forecast 1,
Why is sales forecasts useful 2,
Methods used in quantitative sale...
24  cards
Key terms (3.3.1)
Extrapolation definition 1,
Four period moving average defini...,
Line of best fit definition 3
7  cards
Investment appraisal (3.3.2)
What is investment appraisal 1,
A business may want to analyse 2,
Some key data need for investment...
29  cards
Key terms (3.3.2)
Average accounting rate or return...,
Discounted cash flow net present ...,
Investment appraisal definition 3
5  cards
Decision trees (3.3.3)
What are decision trees 1,
Decision trees 2,
Key elements of a decision tree d...
7  cards
Key terms (3.3.3)
Decision tree definition 1,
Probabilities definition 2,
Expected monetary rewards definit...
3  cards
Critical path analysis (3.3.4)
What is a cpa network analysis 1,
Critical path analysis 2,
Uses of cpa 3
9  cards
Key terms (3.3.4)
Critical path definition 1,
Critical path analysis cpa defini...,
Earliest start time definition 3
6  cards
Corporate influences (3.4.1)
Corporate timescales 1,
Long term decisions 2,
Short term decisions 3
24  cards
Key terms (3.4.1)
Evidence based decision making de...,
Long termism definition 2,
Short termism definition 3
4  cards
Corporate culture (3.4.2)
How corporate culture is formed 1,
Factors contributing to the forma...,
Difficulties in changing establis...
3  cards
Key terms (3.4.2)
0  cards
Shareholders vs stakeholders (3.4.3)
What is a stakeholder 1,
Considering stakeholders 2,
Internal stakeholders 3
10  cards
Key terms (3.4.3)
0  cards
Business ethics (3.4.4)
What are business ethics 1,
Understanding business ethics 2,
An ethical code may include commi...
12  cards
Key terms (3.4.4)
0  cards
Interpretation of financial statements (3.5.1)
What is a statement of comprehens...,
Stakeholder interest in the soci 2,
Why construct a soci 3
9  cards
Key terms (3.5.1)
0  cards
Ratio Analysis (3.5.2)
What is ratio analysis 1,
Ratio analysis 2,
Ratio analysis and evidence based...
12  cards
Key terms (3.5.2)
0  cards
Human resources (3.5.3)
0  cards
Key terms (3.5.3)
0  cards
Causes and effects of change (3.6.1)
0  cards
Key terms (3.6.1)
0  cards
Key factors in change (3.6.2)
0  cards
Scenario planning (3.6.3)
0  cards
Key terms (3.6.3)
0  cards
Growing economies (4.1.1)
0  cards
Key terms (4.1.1)
0  cards
International trade and business growth (4.1.2)
0  cards
Key terms (4.1.2)
0  cards
Factors contributing to increased globalisation (4.1.3)
0  cards
Key terms (4.1.3)
0  cards
Protectionism (4.1.4)
0  cards
Key terms (4.1.4)
0  cards
Trading blocs (4.1.5)
0  cards
Key terms (4.1.5)
0  cards
Conditions that prompt trade (4.2.1)
0  cards
Key terms (4.2.1)
0  cards
Assessment of a country as a market (4.2.2)
0  cards
Key terms (4.2.2)
0  cards
Assessment of a country as a production location (4.2.3)
0  cards
Key terms (4.2.3)
0  cards
Reasons for global mergers or joint ventures (4.2.4)
0  cards
Key terms (4.2.4)
0  cards
Global competitiveness (4.2.5)
What is global competitiveness 1,
Exchange rate fluctuation 2,
What is an exchange rate 3
16  cards
Key terms (4.2.5)
0  cards
Marketing (4.3.1)
0  cards
Key terms (4.3.1)
0  cards
Niche markets (4.3.2)
0  cards
Key terms (4.3.2)
0  cards
Cultural/social factors (4.3.3)
Factors to consider in global mar...
1  cards
Key terms (4.3.3)
0  cards
The impact of MNCs (4.4.1)
0  cards
Key terms (4.4.1)
0  cards
Ethics (4.4.2)
0  cards
Key terms (4.4.2)
0  cards
Controlling MNCs (4.4.3)
0  cards
Key terms (4.4.3)
0  cards

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