2.7 Flashcards
(10 cards)
Matric structure
No traditional heriachy , employees may report to multiple managers
The business cycle
Measures fluctuation in GDP in the economy
Recession
2 consecutive quarters of negative economic growth
Interest rates
Cost of borrowing / reward for saving
Individual tax
Individual tax
National insurance
Business tax
VAT
Corporation tax
meeting customer needs involves
convenience
product awareness
engagement
trade off
situation where having more of one thing leads to having less of something else
what is specialisation and pros
focusing on producing one product or a small product range
+ quality
+ efficiency , reduced unit costs
+ niche target market
glocalisation
product that is developed or sold globally but is adapted to meet the wants and needs of customers in a local market
