business key words

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  • Created by: LGuy7
  • Created on: 25-04-16 11:53
anything that is useful to the business
assets
1 of 23
level of output where neither profit nor loss is being made
break even point
2 of 23
document that sets out intentions of a business
business plan
3 of 23
movement of cash into and out of the business
cash flow
4 of 23
anything of value that can be seized by a lender if loan not repayed
collateral
5 of 23
price minus variable cost
contribution
6 of 23
person who takes risk of setting up and running new business
entrepreneur
7 of 23
costs that do not change with the level of output
fixed costs
8 of 23
targeting of a small market segment
niche
9 of 23
the amount made between total sales and total costs
profit
10 of 23
income of business raised by selling its goods or services
revenue
11 of 23
An individual who has interests in a business e.g: owner, employee, shareholder
stakeholder
12 of 23
cost of production that varies with output
variable costs
13 of 23
refers to a business that have a centralised structure
centralisation
14 of 23
spreading decision making powers away from head office throughout organisation
decentralisation
15 of 23
how much a variable changes in response to another related variable
elasticity
16 of 23
layers of management
hierarchy
17 of 23
stock control system that does away with need of large quantity of stock
just in time
18 of 23
Japanese word for continuos improvement
kaizen
19 of 23
legal way of protecting a product idea or process
patent
20 of 23
term used regarding raw materials through work in progress to finished work
stock
21 of 23
distinguishes a product or service from its competition
trademark
22 of 23
difference between budgeted figure and actual figure
variance
23 of 23

Other cards in this set

Card 2

Front

level of output where neither profit nor loss is being made

Back

break even point

Card 3

Front

document that sets out intentions of a business

Back

Preview of the front of card 3

Card 4

Front

movement of cash into and out of the business

Back

Preview of the front of card 4

Card 5

Front

anything of value that can be seized by a lender if loan not repayed

Back

Preview of the front of card 5
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