EDEXCEL BUSINESS STUDIES UNIT 2A: MANAGING THE BUSINESS A-Z GLOSSARY TERMS

Anyone who is just doing business studies("NOT BUSINESS & ECONOMICS") for Edexcel board are welcome to look at the document. You can look at the definitions for just the "UNIT 2A: MANAGING THE BUSINESS". This unit only focuses on the Marketing, People in business, Operations management and lastly Finance. If anyone wants "UNIT 1: DEVELOPING THE BUSINESS IDEA" glossary terms A-Z can send the request so that I can upload it.  

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  • Created by: anoj
  • Created on: 11-05-11 17:29

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BUSINESS STUDIES

UNIT 2A: MANAGING THE BUSINESS

Above the line promotion = main media, paid for, advertising eg TV, Newspapers ads.

Below the line promotion = all types of promotion apart from main media eg Public Relations,
Sponsorship, Special offers, Direct Mail selling.

Bonus = extra salary paid to worker…

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Decentralisation ­ when the senior managers of a firm allow important decisions to be made at a lower
level eg by their branch managers.

Delegation ­ when senior managers pass the authority to make decisions or plan tasks, down to their
subordinates.

Design Mix - when the designer of a…

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Job enrichment ­ giving a worker higher level tasks to do, often with appropriate training

Job rotation ­ moving workers round to different tasks of same level to avoid boredom.

Just in Time - stock control system where components or raw materials are not stocked in large
quantities but delivered…

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Product Life Cycle = method of analysing your product range or portfolio according to its age.

Product Design ­ see Design Mix

Quality Assurance - making sure of high quality products by building quality checks into the process. Ie.
Preventing defects.

Quality Control ­ inspecting products to spot defects at…

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Zero Budgeting - when a spending budget (eg for materials) is zero, and managers must request and
justify each item of spending.

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