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26 Cards in this Set
- Front
- Back
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Stakeholder |
Person or company that has interest or influence on a business |
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Mission statement |
Broad aim of a company (their purpose) |
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Smart target |
Specific Measurable Achievable Realistic Time |
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B2B |
Business to business transactions |
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B2C |
Business to customer transactions |
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Primary sector |
Extraction of resources from the earth |
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Secondary sector |
Production of products from raw materials |
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Tertiary sector |
Providing a service |
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Revenue |
All profits from sales |
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Profit |
Revenue-cost |
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Market capitalisation |
Number of issued shares x current share price |
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Market share |
Sales/total sales of market x100 |
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Authoritarian leader ship |
1 person makes all decisions |
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Democratic leadership |
Decisions are made collectively and all staff have input on what happens |
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Limited liability |
Business is it's own entity |
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Unlimited liability |
Business owner is the business, has to pay all debt |
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Franchise |
The practice of the right to use a firm business model |
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Manopoly |
Market with one company with no competition, over 25%share |
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Oligopoly |
A few producers, don't compete on price, medium barriers of entry |
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Perfect competition |
Many producers, price competitive, no barriers of entry |
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Consumer confidence |
How confident the public is in the economy and how likely they are to spend or save depending on that |
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External business factors |
Competition Demographic factors Interest rates Market conditions Incomes Environmental issues and fair trade |
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Demographics |
Age Gender Social class Income levels Geographic location |
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Interest rates |
Amount charged for costs associated with borrowing and saving |
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High interest rates |
More saving less spending |
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Low interest rates |
More spending/borrowing, less saving |
