Business Studies - Keywords

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  • Created by: OliverCW
  • Created on: 19-05-17 16:10
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  • Business Keywords
    • Profit
      • The money that is earned in a business when the costs are considered.
    • Revenue
      • The money a business gets given from selling product or service.
    • Costs
      • The money a business spends.
    • USP/ Unique Selling point
      • Something a business has which no other business has.
      • e.g. Xbox only games
    • Marketing Mix
      • Product
        • A physical thing the item sells
        • Service
          • Something the business sells which is not an item, e.g. a barbers cuts hair
      • Price
        • How much a business sells their product or service for
      • Place
        • Where ab business is located
      • Promotion
        • How a business adveritises their product or service
    • Motivation
      • How much a person wants to do something
      • How much an employee wants to do something, and to what potential
    • Insolvency
      • When a business cannot pay the debts it's in. The owners must either stop the business or find another way to pay
    • Overdraft
      • An agreement with the bank, where you are able to pay over what you have and go into some debt.
    • Franchises
      • Franchise
        • A business which has multiple places, owned by different people, under one brand. e.g. KFC
      • Franchisee
        • The owner of one of the business' places
      • Franchiser
        • The person who owns the brand and owns the company as a whole
    • Stakeholder
      • Anyone connected to the business in any way.
    • Shareholder
      • Someone who owns a portion of the business, or owns a certain amount of profits from it

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