Appraisal is the process of evaluating the performance of an individual employee.
Assets are items owned by a business
A balance sheet is a financial statement recording assets and liabilities at a particular time.
Benchmarking is the process of a business matching part of anotherbusiness'sprocess
Big Data is large and complex data sets to gather insights.
Capital Structure is the way in which a business has used its capital to acquire assets
A confidence level is the probability that research findings are correct.
A confidence interval is the possible range of outcomes for a given confidence level
Conglomerateintegration is where a business partners with an entirely different business
Contingency planning is where a business plans for possible but unlikely events to minimise risk
Corporate social responsibilities are the duties of a business has to cater for the environment, customers, society and employees.
A costleadership strategy involves gaining lower costs than rivals in the same industry.
Critical path is part of network analysis in which activities have zero float, indicating overall time for project to be completed. If critical path is disrupted, entire project is delayed
Data mining is an analytical process aiming to identify patterns between variables
Debentures are loans with fixed interest rates that possibly have no repayment date.
Diseconomies of Scale occurs when a business unit costs decrease as the business expands
Dividends are the amount of company profits shared with shareholders in relation to the number of shares owned by the individual
Division of labour is the process of breaking down the process of production into a series of small and repetitive tasks for lower skilled employees
Economies of scale occurs when unit costs fall due to business expansion, in relation to output volume
Economies of scope occurs when business's get cost advantage through sharing costs through their portfolio
An emergent strategy is a strategy that develops over time
An emergent market is a country with low incomes but is having high economic growth
Enterprise resource planning, or ERP, is a software application enabling a business to manage its activities effectively, such as marketing or sales. This helps with decision making as information is grouped together for comparison.
The experience curve is the cost advantage help by a business due to experience within that market, as they are able to make more informed decisions
Float time is how long an activity can be overrun without delaying the entire project
Globalisation is the increased trade between other countries
Horizontal Integration occurs where one business joins with another in the same stage of production
Human resource flow is the movement of employees through the organisational structure
Income elasticity of demand is the extent of how responsive demand is in relation to a change of customer income
Operating profit is the money left before tax
Outsourcing is where a business gets another business to complete part of their work
Overtrading occurs when liquidity problems arise with the rapid growth of a business
A patent protects inventions and processes
Protectionism is governmental policy which prevents free imports into a country, in order to make business more domesticated
A quota is a limit on the number of good and service imports
Return of capital employed is the net profits of a business expressed as a percentage if the value of capital employed in the business
Sensitivity analysis is the analysis of other potential outcomes of a proposal