A-C
how a business sells its product for more than it costs
added value
The extra amount of pay workers receive as a percentage of their or the business’s sales
commission
Factors related to population, often used as a basis for segmentation
demographics
Goods or services that are produced in this country and sold to other countries
exports
Method of production associated with making very large quantities of standard products
flow production
The independence a worker has within their job
autonomy
Where the price of a product is decided by comparing it to its rivals
competitive pricing
When an employer choses its workers based on a particular characteristic; many of these are illegal, for example age, gender and race
discrimination
Methods of prolonging the product life cycle to extend the life of a product
Extension strategy
The business which runs a franchise in a specific territory or area
franchisee
Method of production where groups or types of products are made at several stages
Batch production
Legal constraints that protect the consumer from unfair business practice
consumer laws
The share of the profit received by a shareholder
dividend
Factors that affect a business but they cannot control
external influence / factors
The seller of a right to operate a franchise
franchisor
An extra amount of pay received through achieving a business target
bonus
A business structure and its decision-making is spread out to include more junior managers as well as individual business units or locations
decentralising
Measures of how much output is being produced per unit of input
efficiency
Where the organisational structure has few layers, short chains of command and wide spans of control
flat structure
Methods of rewarding a worker that are not directly monetary
fringe benefit
Part of the structure of a business organisation which shows who is in charge of who
chain of command
A method of saving costs in an organisation by reducing the number of layers
delayering
The amount of foreign currency that can be purchased with another currency
exchange rate
Market research where discussions take place with a group of potential or actual consumers
focus group
A feature of product design which shows that the product can perform its intended job
function