Business THEME 1

• Opportunity cost = a business decision that is given up in order to do something else
• Recruitment = Finding the best person for the job, and then hiring them to do it
• Selection = Assessing candidates within interviews and assessment days
• Dismissal = Firing employees against their will
• Redundancy = Job becomes no longer available and is not the employees fault
• Distribution channel - the process in which products are sold to customers 4,3,2,1