unit 1
The people who have a direct interest in the business.
What is stakeholders
the motivation theory with self-actualization at the top
what is Maslow's Hierarchy of Needs
the type of expense used to buy things like real estate and equipment
what is capital expenditure
the term used to describe how much of the market the company controls/owns.
what is market share
the tool dealing with external factors
what is a STEEPLE
When 2 business come together to function as one larger company
what is a merger
the term used when one person gives their tasks to another person to do.
what is delegation
this source of finance comes with high interest and should only be used in emergencies.
what is overdraft.
the type of primary research where groups of people discuss their opinions about a particular product.
what is a focus group
the tool that involves using charts and graphs
what is descriptive statistics
what is economies of scale
the style of leadership characterized by family-like focus.
what is paternalistic leadership
rent and salaries are an example of _____ costs.
what is fixed costs.
the type of pricing method where the company adds a set percentage to the cost of the product.
what is cost-plus pricing
the tool used to analyze growth strategies
what is the Ansoff Matrix
when a company sells the right to use its name and ideas in return for royalties.
what is franchising
payments to employees that are not monetary, like a company car.
what are fringe benefits
in a cash flow forecast, the last item on the document is _____
what is closing balance.
traditional promotion methods like TV and billboards
what is above the line promotion
the tool used to quantify potential profits that could be gained from various options. This is done in a visual way.
what are decision trees
these companies are owned and operated by the government
what are publoc sector companies
the term used to describe the initial training an employee goes through when first hired by the company
what is induction
the term used to define the difference between budgeted figures and actual figures.
what is variance.
the aspect of the 7 Ps that deals with the distribution channels
what is Place
the tool used to categorize products in a companies product portfolio based on its market share and the market growth.
what is the Boston Consulting Group Matrix