Money Matters
This source of finance is short-term and although it requires a good banking relationship, it still comes with higher than average interest/fees
What is a bank overdraft facility?
Those who may be impacted by the decisions of a business and thus have an interest in its actions
Who are 'stake-holders"?
Employees, Shareholders, Local communities, Suppliers, Governments, Customers, .....
A business with one owner who makes all the decisions and takes all the risks.
What is a "sole trader" or sole proprietorship?
All workers are motivated by money. (T/F)
What is false?
Bonus: who said employees were only motivated by money?
Market research that is controlled and designed by a business itself. May include questionnaires, surveys, focus groups, or reviewing sales data.
What is "Primary Market Research"?
Profit or not? This can be calculated using the formula: Fixed Costs / Contribution
What is the "break-even" level?
Bonus: What is the formula for "contribution"?
Leaders in an organization matter. McGregor believed in two theories of motivation which might influence which of these leadership styles managers use.
What are autocratic, paternalistic, democratic, and laissez faire?
This type of business can be recognised by the letters "Ltd."
What is a 'private limited company'?
"Motivators" are what employees truly care about while "Hygiene" factors are secondary
Who is Hertzberg and the two factor theory?
skimming, loss leaders, mark ups, psychological, discrimination, and expectation are all types of
What are pricing strategies?
This type of funding is usually only available to a small unincorporated business. Large sums of money can be raised but no selling of shares is involved.
What is 'crowd funding'?
This function is responsible for the recruitment, selection, training, and assessment of employees so that they help a business achieve its objectives
What is human resource management?
This type of business has a mission that includes more than making profit. It wants to have a positive impact on the world.
What is a 'social enterprise'?
While piece rates, hourly wages, salaries, and bonuses motivated certain types of workers, the non-financial motivators are also important
What are fringe benefits, holidays, working hours, recognition, job promotion, job enrichment....?
Daily Double
Businesses may find it easier to raise finance with one of these,
However, just like weather predictions, it could be unreliable.
What is a Cashflow Forecast?
Entrepreneurs matter. And in order to be successful, they may need to have these qualities.
What are experience, risk-taking ability, decision-making ability, multi-skilled, resilience, problem-solving ability, .....?
This type of business can raised large sums of money by selling debentures, which can much less expensive in the long run than selling shares.
What is a Public Limited Company or 'PLC'?
After his "Hawthorne Experiments", Mayo concluded that employees were motivated by these two factors. But he discovered that one was much more important than the other.
What are Social factors and Physical factors?
What are demographic, geographic, psychographic, and behavioral?
Selling debt owed to a business by customers to generate cash. Usually at a steep discount.
What is "debt factoring"?
Daily Double
Businesses owned and democratically controlled by “member-owners” who each contribute and have a vote on how the business is run. Very popular in agriculture.
What are Cooperatives?
Maslow's hierarchy included "Esteem" and these other needs
What are physiological, safety, social, and self-actualization?
Similar to product, price, promotion, and place. These are the 4 C's
What are customer solution, cost, covenience to customer, and customer communication?