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Description
Flashcards by beth.tripp, updated more than 1 year ago
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Created by beth.tripp
over 9 years ago
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| Question | Answer |
| 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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