vocab
What i get
Name that pic
what i lose
100
Sector dealing with high technology
quaternary sector
100
can establish close relationship with staff and customers (1)
sole trader
100
A change in the objective set by business must change the __________ too
strategy
100
May lack experience...A manufacturing company may lack experience in retail
Vertical integration
200
Brief statement of the businesses aims, phrased in a way to motivate employees and to stimulate interest from outside groups
mission statement
200
often show dedication in seeing the business grow and prosper; and passed on for future generations
Family-owned business
200
organic growth
200
could lead to negative cash flow and increase in long-term borrowing and interest payments
merger (financial disadvantage)
300
Total value of all long-term finance invested in the business
capital employed
300
Eliminates one competitor and increases market share and power
Horizontal merger
300
type of business
cooperative
300
Quite difficult for shareholders to sell shares
Private limited company
400
states the name of the company, address of head office, maximum share capital the company seeks to authorize
Memorandum of Association
400
Major markets in different countries to exploit with the new product more effectively if they both decided to go at it alone
Joint venture
400
Gives owner and managers a clear guidance for their actions
business plan
400
subsidies from government can also encourage inefficiencies
Public corporations
500
view that businesses and their managers have responsibilities to a wide range of groups; not just shareholders
Stakeholder concept (theory)
500
Can usually be a start up and operated with low capital investment
small business
500
commonly around the world
Multinational business
500
Imports of raw materials are often needed, which can increase the country's import costs
Industrialization