Marketing
Refers to dividing a market into groups based on demographic, geographic, or psychographic factors?
Market segmentation
A = L + OE
Accounting equation
Strategic role of operations
product differentiation and cost leadership
What is the process of hiring and integrating new employees into an organization?
Acquisition/Recruitment
The four elements of the marketing mix.
price, product, place, promotion
What are the three types of financial statements used in business accounting?
Income, balance, cashflow
Standardised
What term describes the formal assessment of an employee's performance, often leading to career development or promotions?
Performance appraisal
The two main goals of marketing.
Profit maximisation and market share
The ability of a business to meet long-term debt obligations.
Solvency
CAM
Computer-aided manufacturing
What are the four key influences on human resource management according to the syllabus?
Legal, economic, social, and technological influences.
A pricing strategy based on the cost of inputs.
Cost-based pricing
PLEGS
Transformed resources
A leadership style that focuses on managers planning, monitoring and controlling. Employees have limited input into decisions.
Autocratic leadership.
A pricing strategy focussed on making a loss on some products to entice customers to shop and making profit on others.
loss leader
Global financial strategy where the exporter receives payment before sending the product overseas.
Payment in advance
Refers to a business's ability to adjust production volumes in response to seasonal changes.
Variation in demand
When an employee is no longer needed to to reduced business sales.
Retrenchment