key concepts Flashcards
(42 cards)
Entrepreneur
individual who manages and organises a business, taking risks on doing so
Minority Shareholder
a shareholders owning less than a a half of a company’s total shares
Chief executive officer (CEO)
The top position in an organization, responsible for the success – or failure – of their organisation
Share Capital
Funds raised through the sale of shares.
- large sums of money that have no interest rate
Diversification
Expanding a company’s product or service offerings into new markets or industries to reduce risk and enhance growth opportunities.
Aquisitions
When one company takes ownership of another company
Private Limited Company
A for-proftit organisation that cannot raise share capital from the general public. Share are only sold to private family and friends
Public limited company
A big company that are able to advertise and sells its shares to the general public via the stock exchange
Efficiency
How effectively a company generates products and services related to the amount of time and money needed to produce them.
Productivity
The amount of output a business/person can create compared to the number of resources they put into the task.
Batch production
A manufacturing process where products are produced in groups or batches rather than individually, often to achieve efficiency and cost savings.
Cellular production
A set of task are prescribed to one group of people (cells) and they are responsible for one part of the production process
Absenteeism
Habitual non-presence of an employee at their job.
Labour turnover
A measure of how many people leave a business over a given period of time
(number of staff leaving over a year / number of staff employed in a year) x 100
Market reach
the estimated number of potential customers that you can reach with your message or an entire campaign
Costumer Base
The group of people who repeatedly buy your company’s products or use your organization’s services.
Niche market
A smaller, specialized segment of a larger market that caters to specific customer needs or preferences
primary market research
A unique study done by and individual to discover the wants and needs of consumers who fit the description of your target market.
Secondary market research
When a company uses existing information from other sources, like reports, articles, or surveys, to learn about its market and customers.
Strategic Changes
Significant alterations in a company’s strategies, operations, or direction to adapt to market trends, improve performance, or achieve specific goals.
CSR
A business’s commitment to ethical practices, community involvement, and environmental sustainability, beyond its economic goals.
Motivational Theories
Theories that explain the factors that drive and influence human behavior and motivation, such as Maslow’s Hierarchy of Needs, Herzberg’s Two-Factor Theory, and more..
Market Penetration
A growth strategy that focuses on increasing market share by selling more of the same products to existing customers in the current market.
Liquidity Crisis
A situation where a company faces a shortage of available cash or assets that can be quickly converted into cash, often leading to financial difficulties.
