2. 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10 1 2 3 4 5 6 7 8 9 10

3. Brand Question List

4. A name, term, design or symbol that identifies a sellers product and makes it distinct

5. Break-even point Question List

6. The number of units you need to produce / sell to stop making a loss and start making a profit

7. Cash Inflow Question List

8. Cash that comes in to the business, main source is from customers buying products

9. Design Mix Question List

10. The 3 main areas to be considered when designing a new product. 1) Aesthetics - How it looks 2) Function - How it works 3) Economic - How much it costs to make

11. Two ways of improving cashflow Question List

12. 1) Destocking 2) Reducing credit terms

13. Ethics Question List

14. How morally a business conducts itself. Sometimes doing the right thing costs money!

15. European Union Question List

16. Group of European countries who have come together to create a single market

17. Exports Question List

18. Goods produced in one country but sold in another

19. Export subsidy Question List

20. Government policy to help encourage the export of goods

21. Hierarchy Question List

22. The number of levels of management in an organisations structure

23. Imports Question List

24. Goods bought from another country

25. Import protection Question List

26. Government restricts imports into their country

27. Just In Time Question List

28. Stock arrives JUST when required

29. Lead time Question List

30. The time between stock being ordered and arriving

31. Margin of Safety Question List

32. Any sales above the break-even point is your margin of safety (or safety net)

33. Marketing Mix Question List

34. Product, price promotion, place. The elements to consider in order to launch a product

35. The 4 orientations of a business Question List

36. Market, sales, product, production

37. 5 levels in Maslow’s Hierarchy of needs Question List

38. Level 1 - Survival needs Level 2 - Safety needs Level 3 - Social needs Level 4 - Self esteem needs Level 5 - Self actualisation needs

39. Maximum Stock Question List

40. The maximum quantity set for each order a company makes

41. What are X managers in McGregor’s X/Y theory Question List

42. Strict, tight control

43. Merger Question List

44. Where two businesses join together to form a new business e.g. PC World and Currys

45. Minimum stock Question List

46. The minimum level of stock a company must have in order to keep trading

47. 4 stages in the product life cycle Question List

48. Introduction, growth, maturity, decline

49. Re-order level Question List

50. When this level of stock is reached, the company must place their next order

51. Research and Development Question List

52. Investing time creating and designing an innovative product

53. Share capital Question List

54. Money obtained through the sale of shares

55. Sustainability Question List

56. The responsible management of resources. For instance using renewable energy sources like solar power instead of fossil fuels like oil

57. Takeover Question List

58. Where one business buys at least 51% of another business in order to control it

59. Quality control Question List

60. Checking finished products for problems or defects at the end of the production process

61. Quality Assurance Question List

62. Monitoring and evaluating quality throughout the production process

63. Venture Capital Question List

64. Money invested into a business by business angels or "dragons"

65. 3 internal sources of finance Question List

66. 1) Retained profits 2) Owners funds 3) Sale of assets

67. 2 ways to improve profit Question List

68. 1) Increase price 2) Reduce costs

69. Advantage of customer service Question List

70. Get repeat business Increase sales Gain an advantage over competitors

71. Disadvantage of recycling waste Question List

72. Costs increase

73. Trade descriptions Act Question List

74. Goods must be as described

75. Span of control Question List

76. The number of people you are responsible for

77. Internal communication Question List

78. Communication between employees

79. External communication Question List

80. Communication between employees and individuals outside the business

81. Formal communication Question List

82. Communication through recognised channels

83. 2 methods of informal communication Question List

84. 1) Gossip 2) Meetings

85. 3 different payment methods for workers Question List

86. 1) Flat rate 2) Commission 3) Profit sharing 4) Share ownership 5) Piece rate

87. Give an example of a pressure group Question List

88. Greenpeace Fathers for justice Tescolopoly Amnesty International

89. 2 advantages of a single european market Question List

90. 1) No barriers to trade 2) Access to more labour

91. Operating (Net) Profit Question List

92. = Gross Profit - Expenses

93. Making a Profit Question List

94. Objective for all firms in the private sector except charities. Profit can be used to expand the firm (retained) or paid to owners as a reward for risking their money.

95. Question List

96. Red = fixed cost Blue = sales revenue Green = total costs

97. Advantages of using break even charts Question List

98. 1 Helps planning 2 Identifies how much a firm has to sell to make a profit

99. Disadvantages of using break even charts Question List

100. 1 Only a forecast! 2 Selling price may have to fall if competition is strong 3 Fixed or variable costs may go up/down e.g. rent increase.

101. Formula for break even output Question List

102. =Fixed Cost (Price – Variable Cost)