ub Flashcards
Who keeps internal stakeholders
Owners, Employees, Managers and Workers
Who keeps external stakeholders
Shareholders, Customers, Suppliers, Local Community, Government and banks
What is cost plus
Working out the cost to make the product and then add on a % mark
What is a private limited company
A business owned by shareholders who are friends and family of the entrepreneur.
Features of PLC
Limited Liability
Easier to raise finance by selling shares
Delayering
When a business removes a layer of authority to a allow faster and efficient way of communication.
What is the chain of command
The line of communication and authority within a business
What is a tall organisation
Where each person is responsible for a small group of people
Why is it good to engage with your stakeholders
Businesses are more likely to have increased staff motivation, a good reputation, new ideas and an increased share price
A characteristic of a introduction product
Low sales
Low profit or loss
Lack of customer knowledge
What is a flat organisation
Where one manager is in control of a large group of people
