Unit 1
People or groups that have an interest in any action by an organization.
Stakeholders
Leadership style that promotes the active participation of workers in taking decisions.
Democratic Leadership
The management process responsible for identifying, anticipating, and satisfying consumers requirements profitability.
Marketing
Converting inputs to outputs
Production
Start-up capital
What is the capital needed by an entreprenuer to set up a business?
small to medium sized company that is owned by shareholders who are often members of the same family. Can't sell shares to the general public.
Private Limited Company
Ability for managers to understand their own emotions and those of the people they work with.
Emotional Intelligence
The precentage of sales in the total market sold by one business
Market Share
the number of units produced during a time period
Level of production
Selling of claims over trade receivables to a debt factor in exchange for immediate liquidity only a proportion of the value of the debts will be received.
What is factoring?
document that covers the internal workings of a business and procedures to follow.
Articles of Association
The top of Maslow's hierachy of needs.
Self- Actualization
the process of collecting, recording, and analysing date about customers, competitors and the market.
Market Research
the ratio of outputs to inpouts during production, e.g. output per worker per time period
productivity
1 debt finance advantage
What is as no shares are sold, the ownership of the company does not change or is not diluted by the issue of additional shares?
Three objectives of the social bottom line
What is economic, Social, and Environmental?
Aspects that have the potential to cause dissatisfaction in a job.
Hygeine Factors
identifying a small segment of a larger market by developing products to suit it.
Niche Market
the use of computer programs to crrate two- or three-dimensional (2D or 3D) graphical representations of phyiscal objects
CAD
Providing financial services for poor and low-income customers who do not have access to banking services, such as loans and overdrafts offered by traditional commercial banks
What is microfinance?
method of cordinating and motivating all staff in an organization by dividing overall aim to specific targets for each department.
Management by Objectives
Voluntary groups of workers who meet regularly to discuss work-related problems.
Quality Circles
using one or a number of specific groups to draw samples from and not selecting from the whole population.
cluster sampling
The difference between the cost of purchasing raw materials and the price the finished goods are sold for- this is the same as creating value.
Added Value
With financial stakeholders, creditors responsibilites are (name one)