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Business LC > (part 3 ) terms list [alphabetical] > Flashcards

(part 3 ) terms list [alphabetical] Flashcards

(73 cards)

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1
Q

environmental impact assessment

A

an assessment of how a businesses plan are likely to affect the environment

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2
Q

equity capital

A

money the owners (and shareholders) have invested in the business

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3
Q

equity finance

A

money an investor gives to an entrepreneur for a business, in return the investor receives a share in the business and gets an annual dividend

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4
Q

ethical business practices

A

conducting business according to a set of moral principals which ensures that the business does the right thing in all situations

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5
Q

ethics auditor

A

an independant outsider who examines every aspect of a business to see whether the business is behaving ethically

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6
Q

Eu competition policy

A

a set of rules that sims to ensure free and fair competition bet. businesses in the EU , also bans the formation of cartels

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7
Q

EU decision

A

An EU law that might apply to only 1 country business or citizen , it is implemented immediately

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8
Q

EU directive

A

an EU law that must be implemented within a set time by all member states

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9
Q

EU regulation

A

EU law that applies immediately in all member states

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10
Q

Eu social charter

A

The Eu’s social policy , it aims to improve working and living conditions for EU citizens

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11
Q

European commision

A

An EU body that runs the EU , proposed new EU laws and enforces them if they become law

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12
Q

European court of auditors q

A

the EU body responsible for ensuring that the EU budget is managed properly

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13
Q

European Parliament

A

the eu body that supervises the eu , it debates proposed laws and approves the eu budget

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14
Q

exchange rates

A

how much of a foreign currency you can get for 1 €

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15
Q

executive summary

A

a summary of major findings and conclusions of a report

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16
Q

Export credit insurance

A

a guarantee given by the gov. that it will pay an irish exporter if it’s foreign customer does not pay up

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17
Q

extractive industry

A

primary sector *

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18
Q

facilitator manager

A

a manager that consults the employees and encourages them in their work

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19
Q

factoring

A

a short term source of finance , a business sells it’s debtors to a bank for cash , bank charges a fee for the service

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20
Q

factoring with recourse

A

type of factoring ,

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21
Q

factoring without recourse

A

type of factoring ,if any debtors fail to pay up , the business doesn’t have to reimburse the bank

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22
Q

factors of production

A

the essential items needed to make a finished product , they are land labour capital and enterprise

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23
Q

feasibility study

A

a study to assess the practical implementation of an idea

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24
Q

field research

A

carrying out new research in marketing

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25
financial statements
docs. drawn up by a business to compute its annual (profit and loss account) and its assets and liabilities (balance sheet)
26
fixed rate loan
a loan that charges the same rate of interest every year for a specified number of years
27
flexitime
an employment arrangement where a buisness is flexible about what time employees start and finish work
28
focus group
consumer panel *
29
Form 12A
a form that employees complete when they start working for the first time , they return the completed form to revenue
30
Form A1
a form completed by the owners of a private limited co. , it outlines the company name, registered offices, directors and secretary
31
forward vertical integration
defensive reason for business expansion , a business takes over the firm that distributes its products in order to guarantee distribution
32
franchise
a business expansion strategy , a business allows another entrepreneur to copy its business exactly , in return for a fee
33
franchisee
an entrepreneur who opens a business by opening a franchise
34
franchiser
an entrepreneur who sells a business idea as a franchise
35
free trade
the ability of a country to buy and sell products with other countries without restrictions
36
functional organisation structure
that splits a business up into major jobs (or functions) to be done , such as marketing, production and so on
37
Gearing
the ratio of borrowings and investments used to finance a business , Low gearing means that he owners have invested more than they have borrowed . Neutral gearing means that the owners have invested the same amount as they have borrowed , High gearing means that the owners have borrowed more than they have invested
38
Generic advertising
type of advertising , it is used to advertise an entire industry rather than just a specific brand
39
geographic organisational structure
an organisation structure that splits a business up into the major geographic regions that it operates in
40
global marketing
selling the same product all over the world using a global marketing mix
41
globalisation
the trend for businesses to operate throughout the entire world
42
green investment fund
an investment fund that invests only in socially responsible businesses
43
gross profit
the profit made from the sale of goods , after subtracting the cost of making or buying the goods
44
gross profit percentage
a calc that shows what percentage of sales is gross profit , the formula is ( gross profit % sales ) * 100
45
hierarchy of needs
a theory developed by Abraham maslow , it argues that people have a hierarchy of psychological, social , safety , esteem , and self actualisation needs
46
Hire purchase
a medium term source of finance , an individual/business | buys an item collects it , and pays for it in installations over an agreed period of time
47
HRM
human resource management , the process of managing employees in a business
48
IBEC
Irish business and employers confederation (interest group)
49
ICMSA
irish creamery milk suppliers assn' (interest group)
50
ICT
information and communication tech. , any tech. that enables communication in a business
51
ICTU
Irish congress of Trade unions (interest group)
52
IFA
Irish farmers assn' (interest group)
53
illiquid
lack of ready cash needed to pay short term bills
54
import substitution
an indigenous version os an imported product
55
indemnity
insurance principle that states that you cannot make a profit from an insurance claim
56
indigenous firm
irish business set up by irish people that makes its products in Ireland
57
industrial action
action taken by employees when conflict with the employer cannot be resolved
58
industrial democracy
employee participation
59
industrial relations act 1990
an act that legislates on industrial relations issues, such as industrial action
60
inflation
% increase in the general level of prices in a country in a year measured by CPI
61
informative advertising
type of advertising , a business gives specific info. about the product
62
INO
irish nurses organisation (interest group)
63
inorganic growth
quick expansion of a business using a merger , a strategic alliance or a takeover
64
insurable interest
an insurance principle that states that you can only insure something you own (and you must suffer a loss if the thing is damaged/lost/dies )
65
intention to contract
an essential element of a contract , it means that the parties to the contract understand that it is legally binding
66
interest group
a group of people who campaign for a common goal
67
international trade
commerce bet. diff. countries , it involves importing/exporting
68
intrapreneur
an employee who presents business ideas to his employer
69
invitation to treat
an advert , a price tag , or a shop display , is an indication of the price someone is prepared to accept for goods/services , it is not legally binding
70
invoice
a bill for goods sold on credit
71
ISME
irish small and medium enterprises (interest group)
72
ISO
international org. for standardisation
73
ISO 9000
a mark of quality awarded by the ISO

Business LC (6 decks)

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