It is defined as the best alternative that is forgone when making a decision.
What is an opportunity cost?
100
It measures the number of workers who leave a firm as a percentage of the workforce, per year.
What is the labour turnover?
100
They are a type of long-term loan to a business with the promise of fixed annual interest payments to the debenture holders.
What are debentures?
100
It is a sampling method that gives every person in the population an equal chance of being selected.
What is random sample?
100
It refers to the position on a break-even chart where the total cost line intersects the total revenue line.
What is the break-even point?
200
Growth, Earnings, Transference and inheritance, Challenge, Autonomy, Security, Hobbies
What are the reasons for setting up a business?
200
It refers to the official administrative and formal rules of an organization that govern business activity.
What is bureaucracy?
200
It is the value of all long-term sources of finance for a business, such as bank loans, share capital and any reserves that the business holds.
What is the capital employed?
200
It refers to Michael Porter's model of assessing the nature of competition within an industry by examining five variables (or forces): new entrants, exisiting competitors and buyers.
What is five forces analysis?
200
It means that the manufacturing or provision of a product relies heavily on machinery and equipment.
What is capital intensive?
300
It is the term used to refer to the different sections of a business.
What are the functional areas?
300
It occurs when some decision-making authority and responsibility is passed onto others in the organization.
What is decentralization?
300
They refer to the assets of a business that can be turned into cash quickly, without losing their value, i.e. cash, stock and debtors.
What are liquid assets?
300
It refers to the range of products or strategic business units owned and developed by an organization.
What is product portfolio?
300
They are unique and unusual orders for which a customer will pay a price that differs from the norm.
What are special order decisions?
400
It refers to the consideration of ethical and environmental issues relating to business activity.
What is Corporate social responsibility?
400
It refers to barriers to effective communication, eg. jargon, ignorance or computer failure.
What is noise?
400
It is a type of shareholders ratio which shows the dividends received as a percentage of the market price of the share.
What is dividend yield?
400
It is a tool for analysing the product portfolio of a business.
What is the boston matrix?
400
It is the process of identifying best practice in an industry, in relation to products, processes and operations.
What is benchmarking?
500
It refers to government policies concerned with changing interest rates in order to control the money supply, and the exchange rate.
What is the monetary policy?
500
It is the vertical transfer of information in a hierarchy, via meetings between staff at different levels of the hierarchy.
What is cascading?
500
It is when the value of a firm exceeds its book value (the value of the firm's net assets).
What is goodwill?
500
It refers to a business setting up production and/or distribution facilities in foreign countries.
What is direct investment?
500
It refers to a business that does not acquire any cost-reducing advantages from locating in a particular location.