Standard
The Four P's (Marketing Mix)
Place, Promotion, Product, Price
SWOT
What is - Strengths, Weaknesses, Opportunities & Threats
Gross Profit
Total Revenue - COGS (Cost Of Goods Sold)
The Four Key Business Functions
What is - Operations, Marketing, Finance & Human Resources (HR)
The Accounting Equation
Assets = Liabilities + Equity
The Three Management Approaches
What is - Classical-Scientific, Behavioural & Contingency Approach
Involuntary Redundancy
Occurs when an employer terminates an employee's job because the position itself is no longer required due to organizational factors like technological change, restructuring, or downsizing.
Net Profit
Total Revenue (Cost of Goods Sold + Operating Expenses + Interest + Taxes) - Total Expenses
The Three Key Elements in The Production Process
What are - Inputs, Processes & Outputs
Owner's Equity
Owner's Equity = Assets - Liabilities
The Four Stages Of The Business Life Cycle
What is - Establishment, Growth, Mature, Post-Maturity (Steady, Decline or Renewal)
Stakeholders (are...)
Any group or individuals on whom the decisions or the actions of a business have an effect on them
COGS (Cost Of Goods Sold)
Beginning Inventory (Stocks) + Purchases - Ending Inventory (Stocks)
Voluntary Redundancy
Occurs when an employer announces that a job position is no longer needed and invites employees to volunteer to leave the organization in exchange for a financial severance package.
Gross / Net Profit Margins (percentages)
(Gross (or) Net Profit / Revenue) x 100
The Four Ways of Business Classification
What is - Size, Location, Legal Structure & Industry Sector
The Three Main Financial Statements
What is - Cash Flow Statements, Balance Sheet & Income Statements
Break-Even Analysis
Fixed Costs / Price (per unit) - Variable Costs (per unit)
The Four Types of Market Segmentation
What is - Demographic, Geographic, Psychographic & Behavioural?
Working Capital
Current Assets - Current Liabilities
The Four Business Legal Structures
Sole Trader, Partnership, Private Company (Pty Ltd) & Public Company (Ltd)
SMART Goals
What is - Specific, Measurable, Achievable, Realistic, Timebound
Market Concentrations
What is - Monopoly, Cigoply & Monopolistic
The two main methods a business uses to raise capital
What is Debt financing (e.g. - Bank loans, issuing bonds)
What is Equity financing (e.g. - issuing shares, seeking venture capital)
Margin of Safety
Current Sales - Break-Even Sales