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busineses have agreed to join a third this is forces to make company one method of external growth - Horizontal Taucouer - A method of external growth. very similar chain ullore one business buys another business at the same stage in suply Vertical Taueouer - Where a business takes over a business in a different part of suply chain Diversification - A method of external growth when business buys a completey different business. Organic Growth - This is internal growth, by increasing output, gaining new dendoping new products or increasing market- customers, shares. 2.1 Glossary Marketing: The process of Identifying, predicting and the customers' needs wants profitably Infomercial: An advert that informs the customer Emotional ads: When a business puts out an aduert. designed to make customers emotional to draw more customers in Market Research: The process a business goes through to find info about customers wants needs' Secondary Research: Research thats carried out Specifically for research that already exists. about Primary Research finding out recisearch customes that dosen't already exists. Desk research: This is another term for secondary. Quantative data that is shown in number charts Qualitive data that is non-numeric, for example a video, audio recordings. Market Segmentation: This is a process that a business will carry out to identify types of customers by dividing the whole UK population into different with similar needs. sub catogry's with similar Disposable income: What is left at the of the month when an individual has paid all their bills from their also known as discretionary income. wages 3.2 3.3 Glossacy : this is when a compleate layer in the hierachy is removed e.g managers. made redundant. Delayering: Salaries: This is money paid to a worker on a monthly basis and Chain of Command: the flow of power comunication through an organisation Self Employed: A person works for themselfs. Span of Controll: The number of subordinates that a manager or supervisor has responsability for. meeting: A group of employees in an organisation ullo meet formally to discuss a spesificl topic Presentation: Info Communicated by putting onto sides e shown to an audience Reciewing Reciever: The person who is sending a message Non-Verbal communication: This refers to the way. me express ourselfs without saying anything eg folded arms, thumbs up. 3.4 3.5 Glossary Job description : Al document which describes a job. role and the key tasus of that role. Person Specification: A document which clescribes the ideal set of shills and charicteristics for the job vacancy. CV: This is a two page document which Sumarises. the work education and skills of a job aplicant A Aplicant : person who is applying for a job, also known as a candidate. fringe benefits: An extra benefit supplements an employee's money wage or salary, for ex. private health Care. business Retention: keeping employees working in a Recruitment: refers to the overall process of attracting. selecting and appointing suitible candidates for jobs within a business 3.6 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 employes the Off the job training Training carried out off- site (away from workplace) out while their work place Vacational Learning a practical skill Academic: Learning theories e.g. A levels. Apprentaship: Learning a suill while working a job. Unit I Glossaas Interdependance: How one business, or businesses function can be dependant on another. Underpin: To support. a clecision financial information: cash flow forecasts. income statement, balance sheets, accounting information issued by business to help with decision making Quality assurance: is at the quality center of the design process. Sure quality and makes is consideration in all stages. of the production process. Unit 4:1 Jobi time (one) Products one at a Batch: Product produced in batches (few) I flow : Products produce continuous flow (many) in a Automation: The use of technology and equiptment in a manufacturing enviroment to produce without the of humans. Wait 4.2 Quality: In manufacturing, a measure of exellence. or a state of being free from defects, deficiencies and significant verifications. Quality Controll a product is checked to service ensure that quality is Consistant 4.4 Glossary Reputations: How a business is judged by the customers and other stakeholders who have an interest in it. Digital Content: goods that are obtained digitally via the internet eg a streaming video. Defect: A fault in the product e.g a dent. in a car Dumbility: How long the product should last for eg the life of a battery 14.3 Niche: a of the small Subset very mass market, a amount of customers. example, all Share a similar interest. for Small , مبلي E- -commerce : means electronic Commerce buying and selling online. M-Commerce : means selling a mobile phone, app or that works on uia webstore mobiles. After-sale service: this is any Service provided after the customer has paid, this may include repair, warranty guarentee. telescape: The process of selling over the telephone. 121 5.1 Glassoas Assets Thease are things that the business owres e.g Cash, buildings, -patents ect.... Liabilities: Thease are things that the business owles. owns shows any potential investors what w the bussiness is workh 14.5 Income Statement: A document which shows • Loss Location: Where. a business set up chooses to Premises: by factory. Balance sheet: A document which is a snapshot în time Proximity: being of alleat the business. something or a business building used. e.g shop, need to be paid genrally from UK a Grant: finance paid to a business which dose not back trade government. close to somewhere. Procurment: The process of buying goods and services from suppliers the profit for the trading year, which shows potention investors how Logistics: The act of transporting and delivering healthy the business goods to a customer. they can trade. Suplier: The business that sells goods another a Services 60 business so that Glossary 5.2 expansion: this means to larger e.g. to open branch finance: this is money in a business Capital: this means money Groudfunding: this means offering the ideas of the business the public to to attract funding. grow another Assets: This is something the business owns, So building excumple madline Overdinft: This is a small each month which Sum can be easily loaned to business, by bank, over until it has cadh. a tide it more