Business of People
Finance & Accounting
Widgets
Strategy
Structure
100

The process whereby an individual acquires job related skills and knowledge

Training

100

The movement of cash into and out of a business over a period of time

Cash flow

100

A complete list of items such as property, goods in stock, or the contents of a building

Inventory

100

When a business offers better value than a competitor, either through lower prices or by providing greater benefits that justify higher prices

Competitive advantage

100

The business which pays a royalty to the brand owner

Franchisee

200

The exchange of information or ideas between two parties

Communication

200

The reduction in value of asset over time. Recorded on the balance sheet as a reduction in the value of assets and on the income statement as an expense

Depreciation

200

A fixed share of something that a person or group is entitled to receive or is bound to contribute

quota

200

Where a business moves a business function abroad

offshoring

200

The duties a business has towards employees, customers, society and the environment

Corporate Social Responsibility

300

The passing of authority (but not responsibility) down the organisational structure

delegating

300

The value of one currency expressed in terms of another

Exchange rate

300

Items that a business owns and which it expects to retain for one year or longer.

non-current assets

300

A company which has operations in several countries

multi-national corporation

300

Two business working together on a particular project while remaining legally separate. It is often used when setting up operations abroad

Joint Venture

400

A leadership style where subordinates are given very high levels of authority and empowerment without input by the leader.

Laissez-Faire leadership

400

The preparation of financial statements to present the company's performance in the best possible light

Window Dressing

400

Objective where a firm produces an increased range of unrelated goods and services

Diversification

400

A social movement that exists to promote improved trading terms and living conditions for producers of products in less-developed countries

Fair trade

400

A business which joins together with another business at a different stage of the same supply chain (i.e. a customer or a supplier)

Vertical integration
500

Individuals or groups within society who have an interest in an organisation's operation and performance

Stakeholders

500

The cost of borrowing money and the reward for saving/lending

Interest rates

500

A model which shows the state of a product over its life. It involves the stages of development, introduction, growth, maturity, decline and extension

Product life-cycle

500

A promotion technique that uses social media and network effects to raise brand awareness through sharing of marketing material

Viral marketing

500

Occurs when an individual or group of individuals is responsible for all the actions of their business. With sole traders, there is no distinction in law between the individual and the business so they could lose their personal assets if the business has financial problems

Unlimited liability