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4 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Chapter 1 |
business- any organisation which has been set up to provide goods and services which are needed by society stake-holder-people involved in a business who are affected by the decisions. entrepreneur-bears the risk should the business fail. brains behind the business. reward is profit interest group-organiosation whose main aim is to influence decisions made by Eu and the gov. through lobbying,info campaigns and protests Lobbying-strategy that involves pushing the stakeholders opinion and viewpoint onto those who have the power to change and make decisions Arbitration- independent 3rd party called an arbitrator is impartial to argument and decision made (decided by 2 parties)is or is not binding Conciliation-3rd party agreed by both parties enters the process ,listens to both sides and suggests a non legally binding solution |
business stakeholder entreprenueur interest group Arbitration Conciliation |
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Chapter 9 |
insurance- protection against a possible loss risk management- handling of risk that a business? individual is exposed to .-identification of all possible risks?losses calculating costs of protection against this loss Average clause- if something is insured for a proportion of its value , the insure is only liable for the same proportion of the loss Form p60-end of tax year Form 45-leave job Form 12A - application for tax credits Form P21- shows amount of tax payed and owed |
Form p60
Form 45 Form P12A Form p21- |
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chapter 7 |
planning- setting down specific goals and objectives and putting in place of strategies that allow you to to achieve the stated goals and objectives Swot-management technique used to assess a business in (swot). Weaknesses and strength are internal whereas opportunities and threats are external factors aims to maximize potential strengths and opportunities and minimize impact of threats and weaknesses controlling- process of monitoring performance and comparing it to targets set and taking action when required chain of command-the way decisions flow in an organisational structure delayering-the reduction in the number of layers in an organisational structure span of control- the number of people who report directly to 1 manger in a hierachy |
planning
Swot chain of command delayering- span of control |
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chp7 - types of control |
Financial- seeks to make sure the business operates profitably and always has the money it needs to survive Quality- making the sure the product performs consistently to to the standards set by the sales of goods and supply of services act 1980 Credit-controlling amount of credit payment period given to creditors and ensuring payments are made on time Stock-having optimum stock ensuring enough to meet demand whilst keeping costs to a minimum |
financial quality credit stock |
