2023 paper 1 Flashcards
(9 cards)
1
Q
what is public relations?
A
techniques of how information is seen of a business to the public
2
Q
what is social enterpirse?
A
a busines that piroritizes social benefits along with profit
3
Q
benefits of market research
A
- better understanding of what consumers want
- predict upcoming trends
-identify gaps in the market
4
Q
benefits of a decentralised organisational structure
A
- employees get more autonomy
- faster decision making because they don’t have to wait for approval from the higher ranks
- job satisfaction
5
Q
job production
A
products are individually made one at a time
6
Q
current ratio
A
current assets/current liabilities
7
Q
limitations of using break even charts
A
assume fix costs and variable costs remain constant over time
8
Q
financial methods of motivating employees
A
- piece rate
-bonuses
-promotion
9
Q
drawbacks of fm for motivation
A
- short term motivation
-costly for the business - creates unhealthy competition
