Business Studies - AS Level Key Words (3) 0.0 / 5 ? Business StudiesKey WordsASAQA Created by: taylorukCreated on: 13-06-19 12:03 Qualitative Data This data is NOT in numerical form and is often descriptive. 1 of 14 Quantitative Data This data IS in numerical form, however less descriptive. 2 of 14 Digital Marketing / E-commerce The buying and selling of products through an electronic medium such as the internet. 3 of 14 Centralised Where the majority of decisions are taken by senior managers. 4 of 14 Decentralised Gives greater authority to employees lower down the organisational structure. 5 of 14 Redeployment Offers employees a suitable alternative to their job if facing redundancy. 6 of 14 Venture Capital A mix of loans and share capital from financial institutions and individuals (known as business angels) 7 of 14 Opportunity Cost The next best alternative that is foregone. 8 of 14 Piece rate Employees are payed according to the quantity of what they produce. 9 of 14 Outsourcing When a business uses an outside supplier. 10 of 14 Works Council's A forum within a business where workers and management meet to discuss issues such as working conditions, pay and training. 11 of 14 Quality Assurance The maintainance of target quality by attention to detail at every stage of the process. 12 of 14 Delegation The passing of authority (but not responsibility) down the organisational structure. 13 of 14 Redundancy When an employee is dismissed because their job no longer exists. 14 of 14
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