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41 Cards in this Set
- Front
- Back
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Corporate Social Responsibility |
Managing a business in such a way that the broader social welfare of the community, including employees, customers, suppliers and the environment, is taken into consideration when making business decisions. |
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Globalisation |
The effect of hi-tech communications, lower transport costs and unrestricted trade and financial flows turning the whole world into a single market, producing a more integrated global economic system. |
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External environment |
Factors over which the business has little control. It may be further divided into two categories: macro and operating. |
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Internal environment |
Factors over which the business has some degree of control. Sometimes called the micro environment. |
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Macro Environment |
The broad conditions and trends in the economy and society within which a business operates. |
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Operating Environment |
Refers to the specific outside stakeholders with whom the business interacts in conducting its business. Sometimes called the task environment. |
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Partnership |
An unincorporated business structure with a minimum of 2 and a max of 20 owners |
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Shareholder |
The owners of a company who are entitled to a share of its profits. |
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Shareholder |
The owners of a company who are entitled to a share of its profits. |
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Stakeholders |
Any group or individual who has an interest in, or is affected by, the activities of a business. |
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Shareholder |
The owners of a company who are entitled to a share of its profits. |
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Stakeholders |
Any group or individual who has an interest in, or is affected by, the activities of a business. |
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Sole trader |
A business owned and operated by one person. |
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Shareholder |
The owners of a company who are entitled to a share of its profits. |
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Stakeholders |
Any group or individual who has an interest in, or is affected by, the activities of a business. |
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Sole trader |
A business owned and operated by one person. |
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Entrepreneur |
A person who is willing to seize opportunities to start and operate a business, and is prepared to take risks in the hope of making a profit |
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Special interest groups |
The groups of people who attempt to directly influence or persuade a business to adopt particular policies or procedures. |
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Special interest groups |
The groups of people who attempt to directly influence or persuade a business to adopt particular policies or procedures. |
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Technological issues |
Issues related to the growing use of tools, techniques or systems by businesses to solve problems or serve a purpose. |
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Special interest groups |
The groups of people who attempt to directly influence or persuade a business to adopt particular policies or procedures. |
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Technological issues |
Issues related to the growing use of tools, techniques or systems by businesses to solve problems or serve a purpose. |
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Triple bottom line |
The economic, environmental and social performance of a business. |
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Superannuation |
A system by which contributions are made to a fund that will provide benefits to an employee after retirement. |
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Superannuation |
A system by which contributions are made to a fund that will provide benefits to an employee after retirement. |
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Supply chain |
The range of suppliers from which the business purchases materials and resources. |
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Business models |
The way in which the business will run its operations to generate a profit. |
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Business models |
The way in which the business will run its operations to generate a profit. |
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Bricks and mortar |
A physical store i.e. located in a shopping centre. |
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Natural Resources |
Items used by the business that come from the natural environment e.g. land, water, raw materials. |
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Labour Resources |
Refers to the people that provide their skills, effort and knowledge to the business. |
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Feasibility study |
An assessment of the practicality and potential success of a proposed business idea. |
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Capital Resources |
Refers to the tools and machinery that are used to produce goods or perform services. |
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Online Business |
Businesses run on the internet that don’t have physical/face-to-face contact. |
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Social enterprise |
A business model that aims to improve the wellbeing of others through its business activities. Charity. |
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Franchise |
A person buys the rights to use a businesses name and distribute its goods or services. |
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Import |
Goods and services that are produced overseas and sold to Australian consumers |
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Export |
Goods/services produced in Australia to be sold overseas. |
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SMART Goals |
Specific - 50 customers before the end of the month Measurable - 500 new customers Achievable - Realistic Relevant - Worthwhile Time bound - 50 days to (x) |
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Unincorporated |
Sole traders - 1 Owner Partnerships - 2-20 owners |
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Incorporated businesses |
Privately - most common in Aus Publicly owned - listed on ASE |
