Section 6
the act of selling state-owned and controlled businesses to investors in the private sector
What is privatisation?
removal of one more more levels of hierarchy from an organisational structure
What is delayering?
A plan of action giving details of how a business intends to achieve its marketing objectives.
What is a marketing strategy?
Producing output at the highest ratio of output to input
What is efficiency?
When a business is valued at or bought for more than the balance sheet value of its assets
What is goodwill?
When a business accepts its legal and moral obligations to all stakeholders, not just investors
What is CSR?
A measure of the rate of workforce absence as a proportion of the employee total
What is absenteeism?
The price level at which demand is equal to supply.
What is equilibrium price?
The use of computer software to control machine tools and equipment in manufacturing products
What is CAM?
(original cost of asset - expected residual value) / expected useful life of asset (years)
What is the formula for straight-line depreciation?
The total value of goods and services produced within a countries borders in one year
What is GDP?
An employment contract that does not guarantee a minimum number of hours per week, but the worker is expected to be available when called.
What is a zero-hours contract?
Paid for communication to inform and persuade customers, using media such as TV, newspapers and cinema
What is advertising?
Flow production split into self-contained groups that are responsible for a complete unit of work
What is cell production?
(dividend per share / market share price) x 100
What is the formula for dividend yield?
Foreign buyers of domestic goods, foreign tourists, foreign investors buying the currency to take advantage of higher interest rates
What are factors influencing the demand for a currency?
The ability to understand one's own emotions, and those of others, to achieve better business performance
What is emotional intelligence?
A long-range qualitative forecasting technique that obtains forecasts from a panel of experts
What is the Delphi method?
Site costs, labour costs, transport costs and potential revenue
What are quantitative actors influencing location?
(average annual profit / average investment) x 100
What is the formula for ARR?
person, power, task, role
What are (4) types of corporate culture?
An organisation structure that creates project teams that cut across traditional functional departments
What is a matrix structure?
% change in demand for the product / % change in promotional spending
What is the formula for promotional elasticity of demand?
EST (next activity) - duration - EST (this activity)
What is free float (how is free float calculated)?
The amount for which the inventory can be sold minus the cost of selling it
What is the net realisable value?