Business studies - theme 3 - definitions - Flashcards in A Level and IB Business Studies

1. Any item owned by a business. (2, 5)
4. Any slack time available attached to an activity. (5, 4)
7. Growth that occurs as a result of taking over or merging with another business. (9, 6)
9. Groups that are influenced by and influence the operations of a business. (12)

2. The inefficiencies related to growing as a business that can lead to upward pressure on unit costs. (12, 2, 5)
3. A financial document showing a business's assets and liabilities at a point in time. (1, 7, 5)
5. Identifies a business's strengths and weaknesses along with the opportunities and threats it faces. (4, 8)
6. The tendency to focus on achieving short-term objectives by taking decisions that may preclude better, longer-term options. (5, 7)
8. Describes a firm's ability to pay its bills and finance short-term spending. (9)
10. Occurs when change is slow and happens in small steps. (11, 6)

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