Key Terms - Business

Description

Flashcards on Key Terms - Business, created by M Bathard on 23/12/2016.
M Bathard
Flashcards by M Bathard, updated more than 1 year ago
M Bathard
Created by M Bathard over 7 years ago
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Question Answer
Profit Maximisation When a business tries to achieve the maximum profit with low running costs
Profit Optimisation When a business tries to find an alternative with the most cost effective/highest achievable performance under given constraints
Business Growth Improving some measure of the business' success e.g. sales figures, revenue or profit
Survival Trying to stay functioning hopefully with profits, but continuing to exist
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