BUSS2 key terms page two

HideShow resource information
induction training
training aimed at introducing new employees to a business and its procedures
1 of 26
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
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
training that takes place away from the workplace
16 of 26
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
the finished products that result from from the production
19 of 26
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

Other cards in this set

Card 2




part of the recruitment process wherre a candidate is met face-to-face

Card 3


job description


Preview of the front of card 3

Card 4


job design


Preview of the front of card 4

Card 5


job enlargement


Preview of the front of card 5
View more cards


No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all key terms resources »