Show:
Business Organization & Environment
Human Resource Management
Finance & Accounts
Marketing
Operations Management
100
Public limited company
What is company that is usually a large, well-known business. This could be a manufacturer or a chain of retailers with branches in most city centers Shares trade publically on the stock exchange .
100
chain of command
What is the order in which authority and power in an organization is wielded and delegated from top management to every employee at every level of the organization. Instructions flow downward along the chain of command and accountability flows upward.
100
Direct Costs
What costs can be clearly identified with each unit of production.
100
Market Share
What is the percentage of sales in the total market sold by one business.
100
Economies of Scale
What refers to Lower average costs of production as a firm operates on a larger scale
200
Private Limited Company
What is is often a small business such as a partnership that has Shares do not trade on the stock exchange, they can be sold privately.
200
Flat Organization
What organizational structure in which most middle-management levels and their functions have been eliminated, thus bringing the top management in direct contact with the frontline salespeople, shop floor employees, and customers.
200
indirect costs
What costs that cannot be identified with a unit of production - also known as overhead costs.
200
Market Size
What the total level of sales of all producers within a market.
200
Diseconomies of scale
What refers Cost disadvantages of growth. Unit costs are likely to eventually rise as a firm grows in size due to internal factors and external factors
300
Cooperative
What is this type of company where it is owned by members for their own benefit?
300
Tall Organization
What is a pyramid-type organization that has relatively large number of levels in its hierarchy of authority. Opposite of flat organization.
300
Fixed Costs
What cost remains unchanged no matter what the level of output, such as rent of premises.
300
consumer markets
What is the markets for goods and services bought by the final user of them.
300
Quota sample
What refers to a sampling method that involves segmenting the population and then selecting a certain number of people in each market segment
400
Social Enterprises
What types of companies exist for the following reasons: Economic – •to make a profit or surplus to reinvest back into the business and provide some return to the owners. •Social to provide jobs or support for local, often disadvantaged communities. •Environmentalto protect the environment and to manage the business in a environmentally sustainable way.
400
Autocratic Leadership
What type of leadership excludes subordinates from the process of decision making. They assign work without consulting subordinates or knowing their inclinations and desires. (Simply tells the employees what to do)
400
Variable costs
What costs vary with output, such as purchases of flour at a bakery.
400
Social Marketing
What s an attempt to balance three concerns: company profits, consumer wants, society’s interests.
400
Primary Research
What involves data being collected by the researcher since the information does not currently exist
500
Vision Statement
What isOutlines a business aspirations (where it wants to be). –They relate to the attainment of success I have a dream… “To be the leading sports brand in the world” It is an image of an ideal situation in the future.
500
Situational leadership
What type of leadership uses the right person and the right style for the right situation. For example, a crisis will call for a more authoritarian leadership style whereas a laissez-faire approach can be adopted for managers with highly skilled and empowered staff. This suggests that managers and leaders must be able to change and adapt their style to different situations.
500
Semi-variable costs
What costs include both a fixed and a variable cost element, such as a salesperson's fixed basic salary plus a commission that varies with sales.
500
Marketing Mix
What is the main elements of a firm's marketing strategy: PRODUCT, PRICE, PROMOTION & PLACE.
500
Sampling
What is a practice of selecting a representative group of a population for primary research purposes Hoang, Paul (2016-03-14). Business Management for the IB Diploma Study and Revision Guide (Kindle Locations 7288-7289). Hodder Education. Kindle Edition.