Business Studies vocabulary

ok, high-quality blog concept is almost completely developed.. starting of later on today. While I'm finishing off my taxation essay (yes, it DOES exist!) I'm also trying to keep up doing my daily blog..

Market segmentation - analysing the market the identify different types of consumers.

Brand positioning - the distinctive position that a brand adopts in its competitive environment to ensure that individuals in its target market can tell the brand apart from others.

Advertising elasticity - measures the extend to which change in AD spending affects demand (%change in demand /% change in AD spending)

Cash flow - the difference between incashflow and outcashflow.

Loss leader - product sold at less than cost to attract consumer to a product range.

Adverse variance - a change from a budgeted figure that leads to lower than expected profit.

Net profit margin - net profit, which is a percetage of the sales revenue.

Organisation structure - the relationship between different people and functions within an organisation.

Off-the-job training - training provided by not the place of work

On-the-job training - provided by a company you work in to actually gain required skills for doing a job

Person specification - a set of characteristics by which a person is picked for a particular job

Induction - an introductory training programme designed to familiarise new recruits with their place of work and co-workers

Empowering employees - giving employees some responsibility and power (not over a company acually)

Job enrichment - where the job is expanded vertically by giving the worker more responsibility

Job enlargement - expanding the number of tasks completed by an employee

Capacity utilisation - the percetage of a firm`s total possible production level that is being reached

Rationalisation - reorganising resources in order to cut costs

Quality control - based on inspection of the product or a sample of products

Quality assurance - a system of agreeing and meeting quality standards at each stage of production to ensure consumer satisfaction

Productivity - output per person per a period of time

Product portfolio analysis - analysing the existing product mix to help develop a balanced range of goods and services

Price taker - a firm which sets its prices at the same or similar level to those of the dominant firm in the industry

1 comment:

chris sivewright said...

"Empowering employees - giving employees some responsibility and power (not over a company acually)"

Ignoring a spelling mistake, this implies that employees in a partnerhsip have a different type of empowerment.