unit 3 business definitions

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  • Created by: geogt002
  • Created on: 29-03-17 15:12

unit 3 business definitions

roles in a business...

fianance- managaing sales, suppliers and costs.

operations- add value

human resources- pay role and employee disputes

marketing- promotion and pricing

business main objectives...

growth-nationaly through increases in store numbers, product lines workforce or internationally operating in more countries.

reducing risk- by releasing more prodcuts or operating in more countries.

diversification-establishing a USP , launching new prodcuts in new markets.

survival-during the early years of trading or during difficult economic or market conditions.

breakeven- ensuring all costs are covererd by the firms revenue.

money

service

increase customer base

control market(monopoly)

brand recognision

effeciency-capacity to make more products

provide new products/services

customer sevice

social and ethical- better ethics, enviromental considerations, contributing positivly to society.

green targets

staff

increasing shareholder value-better return on investment

improving cash flow and liquidity- ensuring cash inflows exceed outflows so short term bills can be paid (liqudity is the ability to pay short term debts)

motivation, retention, engagement and morale.

maxamise profits and increase market share

customer loyalty

1 of 3

definitions

survival-during the early years of trading or during difficult economic or market conditions.

breakeven- ensuring all costs are covererd by the firms revenue.

money

service

increase customer base

control market(monopoly)

brand recognision

effeciency-capacity to make more products

provide new products/services

customer sevice

social and ethical- better ethics, enviromental considerations, contributing positivly to society.

green targets

staff

increasing shareholder value-better return on investment

improving cash flow and liquidity- ensuring cash inflows exceed outflows so short term bills can be paid (liqudity is the ability to pay short term debts)

motivation, retention, engagement and morale.

maxamise profits and increase market share

customer loyalty

2 of 3

defintions

social and ethical- better ethics, enviromental considerations, contributing positivly to society.

green targets

staff

increasing shareholder value-better return on investment

improving cash flow and liquidity- ensuring cash inflows exceed outflows so short term bills can be paid (liqudity is the ability to pay short term debts)

motivation, retention, engagement and morale.

maxamise profits and increase market share

customer loyalty

3 of 3

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