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something that is owned by a business
that include lands |
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| the power to control others and make desions |
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| sets the assets of liabilities |
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| Money that the business has in cash or at the bank. |
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| A financial planning tool that estimates the money coming into and going out of the business on a month-by-month basis; it allows the business to predict times when additional finance may be needed to maintain liquidity. |
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| Money received by the business from its operations or investments. |
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| The line through the hierarchy that shows who is responsible for whom from top to bottom of an organisation. |
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| The amount that remains in the account at the end of an accounting period. |
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| An amount of money paid to an employee that is based on a percentage of the sales he/she achieved; paid in addition to a basic salary. |
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| The rivalry between businesses looking to sell their goods/services in the same market. |
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| The rivalry between businesses looking to sell their goods/services in the same market. |
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| Laws designed to ensure that businesses make products that are safe and of good quality, and that they deal with customers honestly and fairly. |
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A legal document that sets out the terms and conditions of the job for the employer and the employee.
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| The money spent by a business on goods and services. |
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| Setting the price of a good or service at an amount higher than the cost of producing it so that a profit is made. |
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| Individuals, businesses or organisations that purchase goods/services and make decisions about which supplier to choose. |
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| The relationship between the business and the customer that puts the customer’s requirements at the centre of the operation to build brand loyalty. |
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The likelihood that past customers will continue to buy from the business, enhanced by high quality customer service and/or reward programmes. |
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| Whether customers are pleased with the goods/services they receive; whether they would purchase again. |
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| The people who are elected by the shareholders to run the business on their behalf. |
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| When a business grows too large, leading to a possible increase in unit cost. |
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| A portion of the after-tax profit that is paid to shareholders according to the number of shares they own. |
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| Business transactions carried out electronically on the internet. |
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The cost advantage of producing on a large scale. As output increases the unit cost decreases.
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| individuals who work full time or part time for the business; they have a contract of employment detailing their duties and rights. |
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Rulings that relate to the rights and responsibilities of people who work for a business; they affect the recruitment and selection process and how the business deals with its workers. |
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| The ability to identify business ideas and opportunities to bring them to fruition and to take risks where appropriate. |
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| A person who has the vision to use initiative to make business ideas happen, managing the resources and risks. |
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| Protects people from discrimination in the workplace and in wider society. It sets out the different ways in which it is unlawful to treat someone. |
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| A business’ goals that relate to fair business practice or moral guidelines and make a positive contribution to the business’ reputation. |
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| The moral principles that guide how a business operates. |
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| he price of one currency based on another or the cost of buying one currency from another, for example £1 = $1.21. |
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| The moral principles that guide how a business operates. |
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| The moral principles that guide how a business operates. |
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| The process of increasing a business’ size. |
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Good/service sold to a customer in another country.
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