Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
5 Cards in this Set
- Front
- Back
|
Added value |
The difference between the price of a good or service and the costs of its material inputs |
|
|
Autocratic Management |
A style of management where decisions are made by the individual, with little or no consultation, with others. Disagreement or discussion is not encouraged. Can be characterised as giving orders. |
|
|
Break Even Point |
The level of output where neither a profit nor a loss is being made. The point at which total Revenue equals Total Costs. |
|
|
Business Plan |
A formal document that sets out the details of the business and acts as a means of attracting potential investors or providers of finance. It will also usually include a marketing plan and financial plans including a profit and loss account and a cash flow forrcast. |
|
|
Cash flow |
The movement of cash into (cash flow) and out of (cash flow) a business. They both need to balance and require careful management to avoid running out of cash at crucial times. |
