Business Activity
______________developed a pyramid motivational theory, which orders people’s needs starting with the basic human needs.
Maslow
Finance, Operations, HR and Marketing.
What are the four functions of a Business?
Owners (Shareholders for an LTD or PLC).,Managers., Employees.
Give three examples of Internal Stakeholders of a Business.
Given an example of on the job training.
• Watching another worker (Shadowing) – The method of watching and copying a more senior member of
staff. An effective method if senior staff member is motivated.
• Mentoring – Paired with an experienced staff member for a period, supervised by the mentor. Mentor
offers guidance and leadership to the employee.
• Job rotation – New recruit spending a period in several different departments. Will develop and learn new
skills in this role.
At the end of a financial year, business produce a ___________________________. It shows the income and costs of the business and is used to calculate the businesses profit.
statement of comprehensive income.
When the currency of a country is stronger, the imports become ___________
Cheaper.
The sharing of profit from an LTD / PLC to the shareholders. Usually paid every 6 or 1 months (Varies business to business).
What are Dividend Payments?
__________________ is included in Induction Training.
Health and safety briefing
• Introduction to senior staff and direct work colleagues
• Company policies and contracts such as dress codes, procedures, and holidays.
_______________= Profit per item (Selling price – Cost) ÷ Cost per item x 100
Mark-up
_______________ is the money paid for work or completion of a service.
Remuneration.
Owners of the business is personally liable for all the businesses debts.
What is Unlimited liability?
This is where two part-time workers share the contract of a single full-time post.
Job Share
Large businesses with significant operations in at least two different countries.
What is a Multinational Company?
____________________________is one of the most important ratios. It analyses how much profit a business makes in relation to its capital investment. (As a %, how much do we receive in profit compared to our capital investment). It links the profit of a business to its size which is a benefit of this ratio.
Return on Capital Employed.
This means that decision making is made by all employees, and they have authority to make decisions. Some decision making has been delegated down the hierarchy (From the top).
What is a decentralised decision making?
What is a franchise?
Why do minimum wage laws exist? Give two reasons.
The minimum wage is the minimum per hour, which workers are entitled to be paid by law. Government have
created these laws for three main reasons.
• To benefit disadvantaged workers
• To reduce poverty rates
• To help businesses (There will be a better motivation for workers if there is a minimum wage).
An individual who combines land labor and capital to provide added value and satisfy consumer wants and needs at a profit is called an _____________________
Entrepreneur
Financial documents help INFORM DECISION MAKING by: ___________________________,
_____________________________, ______________________________
They can help funding decisions
Reducing costs
Increasing profitability
Process of a business going ‘public’ – selling shares on the stock exchange.
What is an IPO?