KT 18: 3.5.3 Human Resources, 4.2.1 Conditions that Prompt Trade

Question 1

Human resources

Answer 1

Human resources - function of a business. HR professionals think of their role as central to the overall goals of the business, and set their HR objectives accordingly.

Question 2

Line manager

Answer 2

staff with responsibility for achieving specific business objectives, and with the resources to get things done.

Question 3

Conditions that prompt trade

Answer 3

the decision to build markets or develop supplies from abroad can be caused by market conditions in the UK (push factors) or opportunities overseas (pull factors).

Question 4

Pull factors

Answer 4

positive factors overseas that entice a UK business to look outside the UK.

Question 5

Push factors

Answer 5

negative factors within the UK that push a UK business to look overseas.

Question 6

Outsourcing

Answer 6

contracting another business to perform a business function on your behalf. This could be anything from outsourcing catering at your school to Apple outsourcing iPhone assembly to Foxconn.

Question 7

Saturated market

Answer 7

market where growth has ceased and there are no significant opportunities to boost sales other than stealing market share from existing rivals.