Business studies unit 2 0.0 / 5 ? Business StudiesMethods to grow a businessGCSEAQA Created by: GinaJCreated on: 28-03-17 12:10 Internal stakeholders they are directly linked to the business, employees and owners. 1 of 20 External Stakeholders people that are not directly linked to the business, people in the surrounding community. 2 of 20 Shareholders people who own shares in the business. 3 of 20 PLC Private limited company - has private shareholders and limited liabilty- people respect and trust the business more. 4 of 20 Public limited company PLC) A limited liability company with shares quoted on the stock market and available to the public. 5 of 20 Breakeven how much stock a company has to sell inorder to cover prices - fixed costs/ contribution 6 of 20 product life cycle research and development- introduction- growth- maturity- sacturation- decline- (extension) 7 of 20 Extension strategy a way a company is able to extend the life cycle of a product - change or product, change of colour, change of price etc. 8 of 20 product portfolio the range of products offered by a business 9 of 20 cost-plus pricing Adding up all the costs of a product and making sure the price covers this . 10 of 20 penetraion pricing introducing the product to a market at a low price to gain popularity, the price will then increase 11 of 20 channels of distribution Ways to deliver goods to customers or to where customers can buy them . 12 of 20 Economies of scale benfits gained from the growth of a business 13 of 20 kaizen small but frequent improvements of a production process 14 of 20 just in time when materials arrive when a company needs them so that they dont have to pay for holding stock 15 of 20 division of labour dividing work so that employees can focus and specialise on one specific job 16 of 20 span of control the number of people someone is responsible for 17 of 20 delegation the right to pass authority to others- chain of command 18 of 20 probability ratio the profit compared to the revenue 19 of 20 liqidity ratio if a business can pay its shot-term debts with assets 20 of 20
Economies of Scale - Business Studies (BBC Bitesize Revision Notes) 5.0 / 5 based on 1 rating Teacher recommended
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