Enterprise
A Business employee who takes direct responsibility for turning an idea into a profitable new product or business venture.
Who is an intrapreneur?
Economic resources are owned and controlled by both private and public sectors
What is mixed economy?
Sales of the business as a proportion of total market sales
What is market share?
A stated measurable target that a business plans to achieve
What is a business objective?
Individuals or groups who can be affected by and have an interest in any action taken by an organisation
What are stakeholders?
An individual who purchases good and services for personal use.
An offer to the public to buy shares in public limited company
What is IPO?
Expansion of a business by means of opening new branches, shops or factories
Clue: Also known as internal growth
What is organic growth?
When businesses consider the interest of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and environment.
What is Corporate Social Responsibility?
Individuals or groups who work within the business or own it and are affected by the operations of the business
What are internal stakeholders?
Increasing the difference between the cost of bought-in inputs and selling price of the finished goods
What is Adding Value?
The legal right to use the name, logo and trading systems of an existing successful business.
What is franchise?
Integration with a business in a different industry
What is conglomerate integration?
The three objectives of social enterprises.
What is Triple Bottom Line?
The view that businesses and their managers have responsibilities to a wide range of groups and not just shareholders
What is stakeholder concept?
A written document that describes a business, it's objectives, it's strategies, the market it is in and its financial forecasts.
What is a business plan?
This document covers the internal workings & control of the business, the names of directors and the procedure to be followed at meetings.
What is Articles of Association?
Agreement between two organisations to commit resources to achieving a specific objective while remaining independent
What is strategic alliance?
It is a document that gives details of a company's activities over the year, including its financial accounts
What is annual report?
This stakeholder's role is to provide finance to the business in different forms. (Clue: they receive interest)
Who are lenders?
A business organisation that has its headquarters in one country, but with operating branches, factories and assembly plans in other countries.
What is a multinational business?
Businesses providing information services, such as computing, web design, ICT, management consultancy, and R&D.
What is Quaternary Sector business activity?
Literally means that the whole is greater than the sum of parts - it is often assumed that the new business will be more successful than the original separate businesses.
What is synergy?
A brief statement of the business's core aims, phrased in a way to motivate employees and to stimulate interest from outside groups.
What is a mission statement?
An organisation of working people with the objective of improving the pay and working conditions of its members and providing them with support and legal service.
What is Trade Union?