Business definitions

  • Created by: Lottie_C
  • Created on: 27-03-16 20:19
the difference between the money a business receives from selling and the money it spends
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what a business wants to achieve over along period of time
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a target for a business to meet, contributing to their overall aim
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increase in businesses sales/profits
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businesses ability to make a profit
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market share
amount of sales a business as compared to market
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cash flow
amount of money flowing into and out of business
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a person or group with interest in a business
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trade union
organisation that employees can join which represents their views
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laws passed to ensure businesses are responsible
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A business that cares about the resources it uses
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tasks that support purpose of business and ensure the business is run effectively
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facts and figures held by business
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data processing
dealing with data to make it more useful
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data retrieval
finding data needed quickly and simply
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passing on data to those who need it
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human resources
business function responsible for recruiting and retaining employees
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business function for linking business to customers through activities
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research and development
business function which investigates how products can be improved and how new products can be developed
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part of a business that makes goods/organises services in the correct quantities
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control over how a task is carried out and a duty to make sure it is carried out correctly
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right to make a decision or do a certain task
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layers of employees in business from top to bottom
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makes sure other people are carrying out job correctly and safely
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non-routine decision
decision made less frequently normally by people higher up in the business
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routine decision
decision made on regular basis normally by people lower down in the business
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routine task
task carried out regularly
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non routine task
task that doesn't need doing regularly
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open plan office
an office which is one room with few partitions
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cellular office
workplace that has small offices and lots of partitions
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fitting together people who do a certain task to the equipment they need to carry out the task
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combination of furniture and equipment an employee uses
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hot desking
workers do not have their own desk but share a workspace with other employees
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technology which allows more than one person to participate a telephone meeting
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participants able to see one another and share files
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using broadband connections,computers and phones to work from home
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an arrangement where the working day has core hours and then flexibility for the employee to choose the remaining hours
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primary data
new data gathered for specific purpose
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secondary data
data which already exists
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input device
any equipment that puts data into a computer
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storage device
equipment capable of storing electronic data
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output device
equipment used to show data stored in computer
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stops unauthorised users accessing computer networks through the internet, hardware or software
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translating data into secret code
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wireless network
2 or more computer systems linked by radio waves to carry communications
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information commissioner
person who leads information commissioners office
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contract of employment
agreement about terms and conditions of employment
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full-time contract
employment for standard hours
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part time contract
for a proportion of full time hours
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permanent contract
continues indefinitely
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temporary contract
applies only for certain period of time
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internal recruitment
filling vacancy from within the business
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external recruitment
advertising and filling vacancy outside of business
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recruitment agency
external organisation which assists recruitment process
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job description
job title, description of job, boss of employee, who employee will be responsible for
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person specification
skills, qualifications, experience and personal qualities needed by candidate
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summary of persons education and experience
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induction training
help new employees settle in to business
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in-house training
at place of work
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external training
away from place of work
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hourly rate, paid weekly
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annual rate, paid monthly
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extra pay for working longer hours, often at higher rate
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extra money for achieving target, normally paid annually
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extra money for making a sale, normally % of sale
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fringe benefit
additional reward
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details of what is to be discussed at a meeting
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records of what was discussed at a meeting
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specialist language
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word processing
software to create, edit, format and print documents
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software to manipulate and store data using formulae
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data capture form
user-friendly way of collecting data
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computer filing system
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local area network
computer network set up for single site
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wide area network
several local area networks connected
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network shared within a business
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Other cards in this set

Card 2


what a business wants to achieve over along period of time



Card 3


a target for a business to meet, contributing to their overall aim


Preview of the back of card 3

Card 4


increase in businesses sales/profits


Preview of the back of card 4

Card 5


businesses ability to make a profit


Preview of the back of card 5
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