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Business Key Terms Flashcards for GCSE, A Level, and IGCSE

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Business Key Terms Flashcards for GCSE, A Level, and IGCSE
user profile picture

Sadie Scollay-smith

@sadie.0x

·

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Business key terms and definitions for students studying GCSE, A-level, and IGCSE Business Studies. This comprehensive glossary covers essential concepts for new business setup, startup terminology, and business growth and marketing vocabulary.

  • Covers fundamental business concepts, organizational structures, and marketing strategies
  • Includes definitions for entrepreneurship, business planning, and market research
  • Provides insights into business growth, stakeholder relationships, and human resource management
  • Useful for exam preparation, flashcards, and quick reference

3/7/2023

3141

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Organizational Structure and Communication

This section covers organizational structure and communication within businesses, providing essential business terms every entrepreneur should know.

The glossary introduces several key concepts:

  • Delayering: Removing a complete layer in the hierarchy, e.g., making managers redundant
  • Chain of Command: The flow of power and communication through an organization
  • Span of Control: The number of subordinates that a manager or supervisor is responsible for

Example: In a delayering process, a company might remove middle management positions to create a flatter organizational structure.

The page also covers different types of communication within a business, including meetings, presentations, and non-verbal communication.

Vocabulary: Non-verbal communication refers to the way we express ourselves without saying anything, e.g., folded arms or thumbs up.

These definitions are crucial for students preparing Business key terms for flashcards quizlet and studying organizational behavior.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Market Segmentation and Consumer Income

This page focuses on market segmentation and consumer income, crucial concepts in business growth and marketing vocabulary book.

The glossary defines market segmentation as the process a business carries out to identify types of customers by dividing the whole population into different subcategories with similar needs.

Definition: Market segmentation is the process of dividing the whole population into different subcategories with similar needs to identify types of customers.

The page also introduces the concept of disposable income, which is essential for understanding consumer behavior and purchasing power.

Vocabulary: Disposable income, also known as discretionary income, is what is left at the end of the month when an individual has paid all their bills from their wages.

These concepts are fundamental for students studying 20 marketing terms and preparing for exams using IGCSE Business key terms.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Employee Training and Development

This final page covers employee training and development, crucial for understanding business growth and marketing vocabulary.

The glossary defines different types of training:

  • Induction Training: Training carried out when an employee first starts to help them settle in and become more productive
  • On-the-job Training: Training carried out while employees are at their workplace
  • Off-the-job Training: Training carried out off-site (away from the workplace)

Example: Induction training might include a tour of the office, introduction to colleagues, and overview of company policies.

The page also introduces the concept of vocational learning, which focuses on practical skills for specific jobs or trades.

Definition: Vocational learning involves acquiring practical skills and knowledge related to a specific job or trade.

These concepts are essential for students studying Business terms PDF and preparing for exams using funny startup terms to make learning more engaging.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Business Fundamentals and Entrepreneurship

This page introduces key business terms every entrepreneur should know, focusing on the basics of starting and running a business.

The glossary begins with the definition of an entrepreneur, describing them as a person who decides to set up a business with the hope of making a profit. It then delves into the concepts of risks and rewards associated with entrepreneurship.

Definition: An entrepreneur is a person who decides to set up a business hoping to make profit.

Vocabulary: Risks refer to the possibility that the business will have lower than expected profit or a loss, while rewards are the benefits of having a business, such as keeping profits.

The page also introduces the concept of a business plan, describing it as a formal document that outlines a business's goals and helps attract funding.

Highlight: A business plan is crucial for new entrepreneurs as it helps outline goals and attract potential investors.

Other important terms covered include objectives, target market, and vision, providing a solid foundation for understanding business key terms for flashcards GCSE and A level Business key terms Edexcel.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Stakeholders and Business Growth

This page focuses on stakeholders and methods of business growth, providing essential information for understanding business growth and marketing vocabulary.

The glossary defines stakeholders as anyone with an interest in how a business is run, categorizing them into internal (employees and owners) and external (suppliers, customers, government, and local community) stakeholders.

Definition: Stakeholders are anyone who has an interest in the business and how it is run.

The page then explores various methods of business growth, including:

  • Merger: When two businesses agree to join forces to create a third company
  • Horizontal Takeover: A business buys another similar business at the same stage in the supply chain
  • Vertical Takeover: A business takes over a company in a different part of the supply chain
  • Diversification: A business buys a completely different business
  • Organic Growth: Internal growth through increasing output, gaining new customers, developing new products, or increasing market share

Example: A horizontal takeover might involve a supermarket chain acquiring another supermarket chain to expand its market presence.

These concepts are crucial for students studying business growth and marketing vocabulary pdf and preparing for exams using AS Business flashcards.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Business Structures and Objectives

This section expands on various business structures and key objectives, essential knowledge for Business Studies key terms and definitions.

The page defines different types of business structures, including:

  • Startup: A newly established business
  • Sole trader: A business with a single owner and unlimited liability
  • Partnership: A business started by more than one owner, also with unlimited liability
  • Private Limited Company: Can sell shares to friends and family
  • Public Limited Company: Can sell shares on the stock exchange

Example: A sole trader, such as a local plumber or freelance graphic designer, is personally responsible for all aspects of their business.

The glossary also covers important financial concepts such as profit, defined as total revenue minus total costs, and market share, which represents the portion of a market controlled by a particular company or product.

Vocabulary: Market share is the portion or percentage of a market controlled by a particular company or product.

These definitions are crucial for students preparing Business IGCSE definitions pdf or creating Business a level flashcards.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Marketing and Market Research

This section delves into marketing concepts and market research techniques, essential for understanding marketing terms a-z and 100 marketing terms.

The page defines marketing as the process of identifying, predicting, and satisfying customers' needs and wants profitably. It introduces various types of advertising, including infomercials and emotional ads.

Vocabulary: An infomercial is an advert that informs the customer, while emotional ads are designed to evoke emotions in customers to attract more business.

The glossary then explores market research, differentiating between primary and secondary research methods:

  • Secondary Research: Research that already exists
  • Primary Research: Finding out information about customers that doesn't already exist
  • Desk Research: Another term for secondary research

Highlight: Understanding the difference between primary and secondary research is crucial for effective market analysis.

The page also introduces the concepts of quantitative and qualitative data, providing examples of each. These definitions are valuable for students studying marketing vocabulary pdf and preparing list of marketing terms and definitions.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

Human Resources and Recruitment

This page focuses on human resources and recruitment processes, essential knowledge for new business setup key terms template.

The glossary defines key documents used in the recruitment process:

  • Job Description: A document describing a job role and its key tasks
  • Person Specification: A document describing the ideal set of skills and characteristics for a job vacancy
  • CV (Curriculum Vitae): A two-page document summarizing the work, education, and skills of a job applicant

Highlight: A well-written job description and person specification are crucial for attracting the right candidates for a position.

The page also introduces concepts related to employee benefits and retention:

  • Fringe Benefits: Extra benefits that supplement an employee's money wage or salary, e.g., private health care
  • Retention: Keeping employees working in a business

Vocabulary: An applicant, also known as a candidate, is a person who is applying for a job.

These terms are valuable for students studying new business setup key terms pdf and preparing for exams using 100 business terms.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

View

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Love this App ❤️, I use it basically all the time whenever I'm studying

Subjects

/

Business

/

Overview

/

Overview

Business Key Terms Flashcards for GCSE, A Level, and IGCSE

user profile picture

Sadie Scollay-smith

@sadie.0x

·

5 Followers

Follow

Business key terms and definitions for students studying GCSE, A-level, and IGCSE Business Studies. This comprehensive glossary covers essential concepts for new business setup, startup terminology, and business growth and marketing vocabulary.

  • Covers fundamental business concepts, organizational structures, and marketing strategies
  • Includes definitions for entrepreneurship, business planning, and market research
  • Provides insights into business growth, stakeholder relationships, and human resource management
  • Useful for exam preparation, flashcards, and quick reference

3/7/2023

3141

 

11

 

Business

128

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Organizational Structure and Communication

This section covers organizational structure and communication within businesses, providing essential business terms every entrepreneur should know.

The glossary introduces several key concepts:

  • Delayering: Removing a complete layer in the hierarchy, e.g., making managers redundant
  • Chain of Command: The flow of power and communication through an organization
  • Span of Control: The number of subordinates that a manager or supervisor is responsible for

Example: In a delayering process, a company might remove middle management positions to create a flatter organizational structure.

The page also covers different types of communication within a business, including meetings, presentations, and non-verbal communication.

Vocabulary: Non-verbal communication refers to the way we express ourselves without saying anything, e.g., folded arms or thumbs up.

These definitions are crucial for students preparing Business key terms for flashcards quizlet and studying organizational behavior.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Market Segmentation and Consumer Income

This page focuses on market segmentation and consumer income, crucial concepts in business growth and marketing vocabulary book.

The glossary defines market segmentation as the process a business carries out to identify types of customers by dividing the whole population into different subcategories with similar needs.

Definition: Market segmentation is the process of dividing the whole population into different subcategories with similar needs to identify types of customers.

The page also introduces the concept of disposable income, which is essential for understanding consumer behavior and purchasing power.

Vocabulary: Disposable income, also known as discretionary income, is what is left at the end of the month when an individual has paid all their bills from their wages.

These concepts are fundamental for students studying 20 marketing terms and preparing for exams using IGCSE Business key terms.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Employee Training and Development

This final page covers employee training and development, crucial for understanding business growth and marketing vocabulary.

The glossary defines different types of training:

  • Induction Training: Training carried out when an employee first starts to help them settle in and become more productive
  • On-the-job Training: Training carried out while employees are at their workplace
  • Off-the-job Training: Training carried out off-site (away from the workplace)

Example: Induction training might include a tour of the office, introduction to colleagues, and overview of company policies.

The page also introduces the concept of vocational learning, which focuses on practical skills for specific jobs or trades.

Definition: Vocational learning involves acquiring practical skills and knowledge related to a specific job or trade.

These concepts are essential for students studying Business terms PDF and preparing for exams using funny startup terms to make learning more engaging.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Business Fundamentals and Entrepreneurship

This page introduces key business terms every entrepreneur should know, focusing on the basics of starting and running a business.

The glossary begins with the definition of an entrepreneur, describing them as a person who decides to set up a business with the hope of making a profit. It then delves into the concepts of risks and rewards associated with entrepreneurship.

Definition: An entrepreneur is a person who decides to set up a business hoping to make profit.

Vocabulary: Risks refer to the possibility that the business will have lower than expected profit or a loss, while rewards are the benefits of having a business, such as keeping profits.

The page also introduces the concept of a business plan, describing it as a formal document that outlines a business's goals and helps attract funding.

Highlight: A business plan is crucial for new entrepreneurs as it helps outline goals and attract potential investors.

Other important terms covered include objectives, target market, and vision, providing a solid foundation for understanding business key terms for flashcards GCSE and A level Business key terms Edexcel.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Stakeholders and Business Growth

This page focuses on stakeholders and methods of business growth, providing essential information for understanding business growth and marketing vocabulary.

The glossary defines stakeholders as anyone with an interest in how a business is run, categorizing them into internal (employees and owners) and external (suppliers, customers, government, and local community) stakeholders.

Definition: Stakeholders are anyone who has an interest in the business and how it is run.

The page then explores various methods of business growth, including:

  • Merger: When two businesses agree to join forces to create a third company
  • Horizontal Takeover: A business buys another similar business at the same stage in the supply chain
  • Vertical Takeover: A business takes over a company in a different part of the supply chain
  • Diversification: A business buys a completely different business
  • Organic Growth: Internal growth through increasing output, gaining new customers, developing new products, or increasing market share

Example: A horizontal takeover might involve a supermarket chain acquiring another supermarket chain to expand its market presence.

These concepts are crucial for students studying business growth and marketing vocabulary pdf and preparing for exams using AS Business flashcards.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Business Structures and Objectives

This section expands on various business structures and key objectives, essential knowledge for Business Studies key terms and definitions.

The page defines different types of business structures, including:

  • Startup: A newly established business
  • Sole trader: A business with a single owner and unlimited liability
  • Partnership: A business started by more than one owner, also with unlimited liability
  • Private Limited Company: Can sell shares to friends and family
  • Public Limited Company: Can sell shares on the stock exchange

Example: A sole trader, such as a local plumber or freelance graphic designer, is personally responsible for all aspects of their business.

The glossary also covers important financial concepts such as profit, defined as total revenue minus total costs, and market share, which represents the portion of a market controlled by a particular company or product.

Vocabulary: Market share is the portion or percentage of a market controlled by a particular company or product.

These definitions are crucial for students preparing Business IGCSE definitions pdf or creating Business a level flashcards.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Marketing and Market Research

This section delves into marketing concepts and market research techniques, essential for understanding marketing terms a-z and 100 marketing terms.

The page defines marketing as the process of identifying, predicting, and satisfying customers' needs and wants profitably. It introduces various types of advertising, including infomercials and emotional ads.

Vocabulary: An infomercial is an advert that informs the customer, while emotional ads are designed to evoke emotions in customers to attract more business.

The glossary then explores market research, differentiating between primary and secondary research methods:

  • Secondary Research: Research that already exists
  • Primary Research: Finding out information about customers that doesn't already exist
  • Desk Research: Another term for secondary research

Highlight: Understanding the difference between primary and secondary research is crucial for effective market analysis.

The page also introduces the concepts of quantitative and qualitative data, providing examples of each. These definitions are valuable for students studying marketing vocabulary pdf and preparing list of marketing terms and definitions.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

Human Resources and Recruitment

This page focuses on human resources and recruitment processes, essential knowledge for new business setup key terms template.

The glossary defines key documents used in the recruitment process:

  • Job Description: A document describing a job role and its key tasks
  • Person Specification: A document describing the ideal set of skills and characteristics for a job vacancy
  • CV (Curriculum Vitae): A two-page document summarizing the work, education, and skills of a job applicant

Highlight: A well-written job description and person specification are crucial for attracting the right candidates for a position.

The page also introduces concepts related to employee benefits and retention:

  • Fringe Benefits: Extra benefits that supplement an employee's money wage or salary, e.g., private health care
  • Retention: Keeping employees working in a business

Vocabulary: An applicant, also known as a candidate, is a person who is applying for a job.

These terms are valuable for students studying new business setup key terms pdf and preparing for exams using 100 business terms.

1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business
1.2 Glossary person who decides to set up a business hoping to make proffit. Entrepneur : A Rists: This is the possability that the business

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12

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Know Understanding Business-Outcomes thumbnail

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Can't find what you're looking for? Explore other subjects.

Knowunity is the # 1 ranked education app in five European countries

Knowunity was a featured story by Apple and has consistently topped the app store charts within the education category in Germany, Italy, Poland, Switzerland and United Kingdom. Join Knowunity today and help millions of students around the world.

Ranked #1 Education App

Download in

Google Play

Download in

App Store

Knowunity is the # 1 ranked education app in five European countries

4.9+

Average App Rating

13 M

Students use Knowunity

#1

In Education App Charts in 12 Countries

950 K+

Students uploaded study notes

Still not sure? Look at what your fellow peers are saying...

iOS User

I love this app so much [...] I recommend Knowunity to everyone!!! I went from a C to an A with it :D

Stefan S, iOS User

The application is very simple and well designed. So far I have found what I was looking for :D

SuSSan, iOS User

Love this App ❤️, I use it basically all the time whenever I'm studying