Unit 3.1-3
A term used for an entrepreneur’s own savings, sometimes referred to as owner's capital
What is Personal funds?
An organization that operates in two or more countries, usually has a head office based in its home country.
What is MNC?
This “P” refers to the features, design, quality and branding of a good or service offered to customers.
What is Product?
Internal factors that can harm a business.
What are weaknesses?
The very first thing subtracted from sales revenue
What is the cost of sales?
The money raised from selling shares in a limited liability company?
What is Share Capital?
These are cost-saving benefits due to operating on a large scale, which reduces the firm’s average cost of production
What is economics of scale?
This “P” involves decisions about discounts, pricing strategies, and how much customers are charged
What is Price?
A company launching an existing product in a new country is using this growth strategy.
What is market development?
The abbreviation of profit post expenses
What is PBIT?
Selling price per unit - Variable cost per unit
What is contribution per unit?
This is the conscientious consideration of ethical and environmental practice related to business activity
What is CSR?
A company chooses to sell its products online, through retailers, and via direct delivery this refers to which “P”
What is Place?
This section outlines how a company will attract and keep customers.
What is the marketing plan?
The PPP in a profit and loss statement
What is profit per period?
A short-term flexible form of borrowing is commonly used when businesses have minor cash flow problems
What is overdraft?
This stakeholder group makes sure that health and safety standards are met.
What is the government?
This “P” includes advertising, sales promotion, public relations, and personal selling used to communicate with customers
What is Promotion?
Circles in a decision tree represent these uncertain points.
What are chance nodes?
The money that is left after all of these expenditures
What is retained profit?
The legal difference between the owners of a company and the business itself.
What is incorporation?
A luxury hotel focuses on staff training, customer service interactions, efficient booking systems, and high-end decor to influence customer experience—these elements together represent which THREE “Ps”?
What are People, Processes, and Physical Evidence?
This is the riskiest strategy in Ansoff’s Matrix, involving new products and new markets.
What is diversification?
The thing a profit and loss statement can track within a business
What is how well they handle direct or indirect expenses?