Business and its Environment
Easy to set up with no special paper work
What is a Sole Trader
One person who controls all decisions and takes very little input from group members
What is an Autocratic Leader
Net Profit / Capital*100
Return on Capital Employed
The transfer of a business, industry, or service from public to private ownership and control
What is Privatization
Removal of trade barriers
What is Trade Liberalization
An informal network that exist among employees that is not officially sanctioned by management.
What is a Grapevine
This is where supplies have been bought with an agreement to pay the supplier at a late date
What is a Trade Credit
Charitable and social support of community and society by business
What is Cooperate Social Responsibility
KFC, Subway, Burger King
What is a Franchise
Father of Scientific Management
Who is Fedrick Taylor
Profits that have been plunged back into the business
What is Profit Rentention
A computer network that is only accessible to members of a organization
What is an Intranet
Tesla aims, "To accelerate the world's transition to sustainable energy"
What is a Mission Statement
Individuals and groups that are linked through electronic communication
What is a Network Organization
A quantitative technique used by firms to access the attractiveness and viability of different capital projects
What is Investment Appraisal
The non-financial strategy is where employees are given more interesting and complex tasks to complete.
What is Job Enrichment
'SMART'
Specific
Measurable
Agreed
Realistic
Time Related
An internal Business communication between departments within the same organization
What is a Memorandum
This measures the level of external borrowing that a company has against capital employed in the company
What is Gearing Ratio
Provides working capital because the business is not yet profitable
What is Second Round Funding