BUSS2 key terms page two 0.0 / 5 ? Business Studieskey termsASAQA Created by: gabrielle PurshouseCreated on: 13-05-14 12:04 induction training training aimed at introducing new employees to a business and its procedures 1 of 26 interview part of the recruitment process wherre a candidate is met face-to-face 2 of 26 job description A summary of the main duties and rewsponsibilies of a job 3 of 26 job design the way in which tasks are combined to form a job 4 of 26 job enlargement giving employees mnore tasks of a similar level of complexity. job enlargement expands the number of tasks completed by an employee 5 of 26 job enrichment making a job more interesting or varied so that it is more rewarding 6 of 26 labouyr productivity the output produced per employee over a given time period 7 of 26 loss leader whhere a price is set deliberatly below the cost of prudction in order to attract customers who will buy other more profitable products 8 of 26 market research the process of plannign, collecting, and analysing data relevant to help make marketing decisions 9 of 26 marketing mix the set of makreting tools that the firm uses to pursue its marketing objectives 10 of 26 mass market Describes the largest group of customers with specific needs and wants in an industry 11 of 26 merchandise promtion of a product at the point-of-sale, usaully in a retail enviroment 12 of 26 net profit profit that remains after all operating costs are taken away form sales revenue 13 of 26 net profit margin a measure of profitability 14 of 26 niche market focused segment of a larger market sector 15 of 26 off-the-job training that takes place away from the workplace 16 of 26 on-the-job training that takes place at the workplace 17 of 26 organisational structure the way that the roles and responsibilites within an organistation are structured 18 of 26 output the finished products that result from from the production 19 of 26 overtime staff who work for less than a standard working week or day 20 of 26 payment terms the period of time that a supplier allows for an invoice to be settled 21 of 26 penetration pricing pricing strategy that involves the setting of lower, rather than higher prices in order to achive a large market share 22 of 26 permanent employee an employee who has a permanent position 23 of 26 person specification a description which identifies the skills and experience that are likely to be held by a successful applicant for a job vacancy 24 of 26 price elastcity of demand the responsivness of demand to a change in the price of a product 25 of 26 price leader a market leader business whose price changes arte followed by rivals 26 of 26
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