Unit 1
The type of company that is listed on the stock exchange.
Publicly held company
refers to administrative systems within an organization. This includes the formal policies and procedures of the business.
Bureaucracy
is finance raised through the issuing of shares via a stock exchange (or stock market).
In a decision tree, the circle represents a ___________
Chance node
This entrepreneur started a famous internet company that sold shoes online, known as "Zappos"
Tony Hsieh
refers to the values, decisions, and actions taken by a business that impact society in a positive way.
Corporate Social Responsibility
are the highest-ranking managers who set and oversee the long-term plans and strategies of the organization. They are ultimately held responsible for the results of the business.
Senior Management
are the items of expenditure that can be evidently and explicitly associated with the output or sale of a certain good, service, or business operation.
Direct costs
is a statistical technique that allows a business to see the extent to which the results from a set of data show divergence from the mean average.
Standard Deviation
The name of the Chinese glass company in the film, American Factory
Fuyuo
refers to the short-term and specific goals of a business with definitive timelines for specific functional areas of an organization.
Tactical objectives
According to Maslow's model, this occurs when people become the very best that they can be, i.e., fulfilling their full potential.
Self-actualization
is a short-term liquidity ratio used to measure an organization’s ability to pay its short-term debts (within the next twelve months of the balance sheet date), without the need to sell any stock (inventories).
Acid-test ratio
These circular business models focus on organizations providing a service instead of selling tangible products, whilst consumers buy a service to fulfil their needs instead of buying a physical product to do so.
Product service system models
The Chinese Coffee company that committed fraud.
Luckin Coffee
refers to an external growth method that involves two or more organizations agreeing to create a new business entity, usually for a finite period of time but often as an ongoing collaborative partnership.
Joint Venture
is a type of financial reward system which remunerates workers a certain percentage of the annual profits that the business earns
Profit-related pay
A situation that arises when a business is unable to pay its short-term debts. This can eventually lead to insolvency and bankruptcy.
is a growth strategy in Ansoff’s matrix that focuses on developing existing markets with existing products in order to increase sales revenue and market share.
Market Penetration
This command term asks you to "Consider an argument or concept in a way that uncovers the assumptions and interrelationships of the issue."
Examine
occurs when issues outside of the organization raises the average costs of production for all businesses in the industry
External Diseconomies of Scale
is about enhancing the experiences of workers, giving workers a wide range of challenging tasks and more responsibility at work.
Job enrichment
is the value of the funds used to operate the business and to generate a financial return for the organization.
Capital employed
The first part of a typical business plan provides an overview of the organization, its corporate objectives, and intended business strategy.
Executive Summary
These are the 4 key concepts in BM
change, ethics, sustainability, creativity