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Business section 1 revision
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- 1what are the stages of recruitment?needs analysis
job description
personal specification
advertising
shortlisting
interview
appointment - 2solutions to cash flow problems-trade credit
-reduce costs
-encourage early payments
-overdraft
-bank loan - 3surplusmoney left over at the end of the month when expenditure has been taken off the income.
- 4profitmoney left after a tax year
- 5defecitwhen you don't have enough to cover costs
- 6net cash flowdifference between inflows and outflows over a period of time
- 7what is market researchan 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.
- 8uspan aspect of the product that differentiates from other competitors' products.
- 9if sarah buys ready made sandwiches and then sellsproduces>retailer>customer
- 10if sarah makes the sandwiches herselfproducer>retailer
- 11penetration pricingwhen 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.
- 12competitive pricingwhen you base price around competitors throughout whole of product life cycle.
- 13skimming pricingcharging maximum for as long as possible done in growth stages
- 14fixed costremains the same regardless of level of output.
- 15cash flow statmentdocument displaying the past business years inflows and outflows after that tax year.
- 16how are staff protectedby 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.
- 17what are contractual rightswhat you and employer sign off in contract
- 18statutory rightsgovernment set e.g. maternity and paternity leave.
- 19two laws that support no discrimination in employmentequal pay act
discrimination legislation - 20what are the three management styles-autocratic
-democratic
-laissez faire - 21internal trainingon the job
- 22external trainingoff the job
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- (BUSINESS) Geography/Business Fichas sobre Business section 1 revision, creado por beth.tripp el 30/11/2014.
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- beth.tripp
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