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Enterprise > All key terms > Flashcards

All key terms Flashcards

1
Q

a plan that outlines the actions required to
achieve particular aims and objectives and provides a
way of monitoring progress

A

Action plan

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2
Q

a list of items that will be discussed at a
forthcoming meeting

A

Agenda

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3
Q

a yearly meeting of
shareholders that a limited company is usually legally
required to hold

A

Annual General Meeting (AGM)

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4
Q

the process of communicating in a
non-verbal way through conscious or unconscious
gestures, movements and mannerisms

A

Body language

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5
Q

a name, symbol, logo and/or image in
customers’ minds that clearly distinguish one
product from another

A

Brand

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6
Q

the degree to which consumers buy a particular brand of a product in preference to another
brand

A

Brand loyalty

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7
Q

the strategy of differentiating the products
of one enterprise from those of another through
emphasising an identifiable image

A

Branding

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8
Q

the break-even point is when the total
revenue of an enterprise exactly matches the total
costs and the enterprise is not making either a profit
or a loss

A

Break-even

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9
Q

a financial statement of income and expenditure
prior to a particular period of time

A

Budget

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10
Q

the difference between a budgeted or
anticipated figure and the actual figure

A

Budget variance

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11
Q

a financial institution that receives
deposits and provides loans and other forms of
financial support; it is usually owned by its members,
and so is a mutual organisation

A

Building society

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12
Q

a type of enterprise that usually has
profit as its main objective

A

Business enterprise

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13
Q

a means of bringing
together people to share, and learn from, their
experiences in business and enterprise

A

Business and enterprise network

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14
Q

an organisation that has been
established with the purpose of producing and selling
particular goods and services

A

Business organisation

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15
Q

human-made aids to production

A

Capital

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16
Q

the flow of money into (inflow) and the flow
of money out of (outflow) an enterprise

A

Cash flow

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17
Q

a forecast of expected income and
expenditure over a particular period of time

A

Cash flow forecast

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18
Q

a commercial institution, usually
owned by its shareholders, that receives deposits and
provides loans and other forms of financial support

A

Commercial bank

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19
Q

a person who provides expert advice in a particular area of enterprise activity

A

Consultant

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20
Q

the importance of changes in
consumer preferences in determining the allocation
of scarce resources in an economy

A

Consumer sovereignty

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21
Q

an amount of money held by an
enterprise in reserve in case it is faced by financial
difficulties brought about by unexpected and
unplanned circumstances beyond its control

A

Contingency fund

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22
Q

the difference between sales revenue and
variable costs

A

Contribution

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23
Q

a type of business organisation owned by
its customers or its employees

A

Co-operative

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24
Q

the legal ownership by a person or an
enterprise of certain kinds of material, e.g. musical or
artistic work

A

Copyright

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25
Q

the willingness of an
enterprise to accept responsibility for its actions
and how they may have an impact on a variety of
stakeholders

A

Corporate social responsibility

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26
Q

the introduction of something original and
imaginative rather than imitated

A

Creative

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27
Q

a sum of money that an enterprise allows
customers before requiring payment and/or a sum of
money that an enterprise allows a customer before
requiring payment

A

Credit

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28
Q

a financial institution that receives
deposits and provides loans and other forms of
financial support; it is usually owned by its members,
and so is a mutual organisation, but it tends to
be limited to particular areas of a country or to
particular groups of workers

A

Credit union

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29
Q

a person or organisation that is owed money

A

Creditor

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30
Q

the practice of funding an enterprise
project or venture by raising small amounts of money
from a large number of people, typically via the
internet

A

Crowdfunding

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31
Q

a person or organisation that buys goods and/
or services from an enterprise

A

Customer

32
Q

a sum of money that is owed by a person or
organisation

A

Debt

33
Q

a person or organisation that owes money

A

Debtor

34
Q

the amount by which an enterprise’s or an
individual’s expenditure or spending exceeds the
income over a particular period of time

A

Deficit

35
Q

where responsibility is passed down to
others in an enterprise

A

Delegation

36
Q

the ways of gaining second-hand
information through such methods as analysing sales
figures from inside an enterprise or using government
research reports from outside the enterprise

A

Desk research

37
Q

the costs of an enterprise that vary directly
with changes in the level of output

A

Direct costs

38
Q

an investment strategy that aims to
reduce risk by combining a variety of different
investments that are unlikely all to suffer losses at
the same time

A

Diversification

39
Q

a business organised and run by an
entrepreneur who makes decisions and takes risks

A

Enterprise

40
Q

the showing of initiative, imagination,
energy and resourcefulness

A

Enterprising

41
Q

a contribution to the finance needed by an
enterprise organised as a limited company. A share
certificate is issued to the shareholder

A

Equity

42
Q

a way of doing something according to
a set of moral principles, values and beliefs

A

Ethical principle

43
Q

a customer who has bought a
product from an enterprise at some point

A

Existing customer

44
Q

all outgoings over a specific
period of time

A

Expenditure

45
Q

the ways of gaining first-hand
information through such methods as a questionnaire
or an interview

A

Field research

46
Q

the official channels of
communication used in an enterprise

A

Formal communication

47
Q

a document that is written to
provide information, analyse an issue and make
recommendations

A

Formal report

48
Q

an arrangement whereby one company gives
the right to another company to supply its products

A

Franchise

49
Q

the company allowed by another company
to conduct business using the other company’s name
and brand

A

Franchisee

50
Q

the company that allows another company
to conduct business using its name and brand

A

Franchisor

51
Q

a financial institution that receives
deposits and provides loans and other forms of
financial support, often specialising in providing
savings accounts and life insurance plans; it is similar
to a building society, but usually on a smaller scale,
and is usually owned by its members, so it is a mutual
organisation

A

Friendly society

52
Q

the trend towards worldwide markets in
goods and services

A

Globalisation

53
Q

a bond is issued based on a promise
to repay a certain sum of money at a date sometime
in the future; a government bond is usually issued
by the central bank of a country on behalf of the
government – the government guarantees to repay
the money on the maturity of the bond, plus interest

A

Government bond

54
Q

a payment that is usually given to support a
particular project or service

A

Grant

55
Q

the sales revenue of an enterprise less the
cost of sales

A

Gross profit

56
Q

the increase in size of an enterprise through
internal and/or external expansion

A

Growth

57
Q

messages between people
on the same organisational level of the organisation

A

Horizontal communication

58
Q

the knowledge, skills, qualifications,
training and experience of a workforce

A

Human capital

59
Q

all incomings received from different sources
over a specific period of time

A

Income

60
Q

a
statement which shows the net profit of an enterprise
after all of the expenses have been deducted

A

Income statement, or profit and loss account

61
Q

a place where resources, space
and an appropriate environment are provided for
entrepreneurs to start up an enterprise

A

Incubation Centre

62
Q

the costs of an enterprise that do not
vary directly with changes in level of output

A

Indirect costs

63
Q

the unofficial channels of
communication used in an enterprise

A

Informal communication

64
Q

the process of putting a new idea into
practice

A

Innovation

65
Q

the return on money that has been lent

A

Interest

66
Q

a global system of interconnected computer
networks that provides an extensive range of
information resources and services

A

Internet

67
Q

a computer network that shares information
resources and services within a particular enterprise

A

Intranet

68
Q

the process of purchasing capital assets

A

Investment

69
Q

skilled, semi-skilled and unskilled workers who
can work for an enterprise

A

Labour

70
Q

natural resources that can be used by an enterprise

A

Land

71
Q

the distinctive way in which decisions
are taken in an enterprise

A

Leadership style

72
Q

a contractual arrangement whereby an asset is
used for a specified period of time on payment of rent

A

Lease

73
Q

the process or procedure to ensure
that an enterprise follows relevant laws, rules and
regulations

A

Legal compliance

74
Q

the person or organisation that rents an asset
from a lessor

A

Lessee

75
Q

the person or organisation that rents out an asset
to a lessee

A

Lessor

76
Q

a company that is legally independent
from its shareholders, who as a result have limited
liability

A

Limited company

Enterprise (2 decks)

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