Paper 1 Definitons Flashcards
Vision statment and missions statmetn
A mission statement defines the organization’s business, its objectives, and how it will reach these objectives. A vision statement details where the organization aspires to go.
Aquisition
Aquisiton, an acquisition in a business context refers to one company purchasing another company or its assets as a strategic move to expand its operations,
Operational and tactical authroity
Operational authority: Operational authority refers to the power and responsibility to make decisions and manage day-to-day activities related to the routine operations of a business
Operational authority focuses on day-to-day activities and decision-making,
while tactical authority involves implementing strategic plans and achieving specific objectives.
Income stream
Icome streams refer to recurring or regular sources of income that an individual or entity receives from various sources, such as employment, investments, business activities, royalties, pensions, or other means, which contribute to their overall income or revenue.
Aquisition
Aquisiton, an acquisition in a business context refers to one company purchasing another company or its assets as a strategic move to expand its operations,
product range,
different types of products / services that an organization sells
vacancies
an unoccupried position in an organization
market share
Market share refers to the percentage of total revenue a company has in a specific market t compared to the specific market market.
Market share refers to the percentage of total revenue that a company has in a specific market, relative to the total revenue of that market
CSR
Is a social repsonsibiltiy that an p organization takes to act ethically towards its skatedholers and communities
refers to a company’s commitment and efforts to operate in a socially responsible and ethical manner.
