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Business Studies U2-1 Key Words
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- 1AimLong term goal - Ie. to make a profit, to survive first year/ to expand internationally, to diversify
- 2ObjectiveA short term goal, always SMART, stepping stones towards an aim, Ie. make £100 per week/ Open 12 shops in Europe in 10 years
- 3SMARTSpecific, Measurable, Achievable, Realistic, Time-scale
- 4Retained ProfitPart of profit saved to be put back into the business
- 5MergerWhen 2 businesses join together and become 1
- 6DiversifyProduce a range of goods or services that are different to your existing range
- 7DemergerWhen a company splits to become 2
- 8Organic GrowthAKA. Internal Growth, achieved by increasing turnover and sales
- 9InputsResources or factors of production that the business uses to produce its products
- 10RedundantWhen members of staff are no longer needed
- 11AcquisitionAKA. Takeover, taking control of another business by buying over 50% of shares
- 12PLCAKA. Public Limited Company, allowed to sell its share on the stock exchange
- 13LTDAKA. Private Limited Company, only allowed to sell shares to family & friends
- 14Brand nameA well-known company or product that consumers know and trust
- 15RoyaltyA fee paid to a business (franchisor) for using its brand name
- 16OverstretchedWhen a business tries to grow too quickly
- 17Ethical objectiveBusiness aim to 'do the right thing', even if not most profitable
- 18Environmental objectiveAiming to protect the environment
- 19Social costsFinancial and society costs
- 20Social benefitsBenefits of business activity to firm and society
- 21Inorganic GrowthAKA. External Growth, funded by bank loans and achieved through mergers and acquisitions
- 22Vertical IntegrationIntegrating to DIFFERENT SECTORS, comes in forward and backward forms, Ie, from P>S or S>P
- 23Horizontal IntegrationIntegration in the SAME sector, Ie T>T, for example a clothes shop buying another clothes shop
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- GCSE (Unit 2 (Growing a business)) Business Studies Fichas sobre Business Studies U2-1 Key Words, creado por jadepalmer98 el 19/10/2013.
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