Business section 1 revision

Pregunta	Respuesta
what are the stages of recruitment?	needs analysis job description personal specification advertising shortlisting interview appointment
solutions to cash flow problems	-trade credit -reduce costs -encourage early payments -overdraft -bank loan
surplus	money left over at the end of the month when expenditure has been taken off the income.
profit	money left after a tax year
defecit	when you don't have enough to cover costs
net cash flow	difference between inflows and outflows over a period of time
what is market research	an activity of research on customers or potential customers. an example of this is making a questionnaire which is done to retrieve information on a business idea.
usp	an aspect of the product that differentiates from other competitors' products.
if sarah buys ready made sandwiches and then sells	produces>retailer>customer
if sarah makes the sandwiches herself	producer>retailer
penetration pricing	when you lower the price in the intro of product life cycle and the increase in growth when you have an increase market share and customer loyalty.
competitive pricing	when you base price around competitors throughout whole of product life cycle.
skimming pricing	charging maximum for as long as possible done in growth stages
fixed cost	remains the same regardless of level of output.
cash flow statment	document displaying the past business years inflows and outflows after that tax year.
how are staff protected	by a contract so employer can only make the employee do work specified similarly if the employee doesn't do work then they are under grounds for dismissal.
what are contractual rights	what you and employer sign off in contract
statutory rights	government set e.g. maternity and paternity leave.
two laws that support no discrimination in employment	equal pay act discrimination legislation
what are the three management styles	-autocratic -democratic -laissez faire
internal training	on the job
external training	off the job

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	Creado por beth.tripp hace más de 9 años