AOS 4 Flashcards
Customer Database:
Customer Database is a collection of information about existing and potential customers.
Overseas Suppliers:
Overseas suppliers are individuals or businesses that sell raw materials or resources in a country overseas.
Free Trade:
Free Trade is being able to buy and sell goods or services internationally with minimal government restrictions or rules.
Overseas Retailers:
Overseas retailers are individuals or businesses that sell goods and services directly to customers overseas.
Grievances:
Grievances are issues that may come up in a workplace and give rise to a formal complaint being made.
Procedures:
Procedures are a series of actions that employees must follow in order to abide by the business’s policies.
Policies:
Policies are written statements that outline the expected performance and behaviour of employees.
Inputs:
Inputs are the resources used by a business to produce goods and services.
Outputs:
Outputs are the final goods or services produced as a result of a business’s operations system, that are delivered or provided to customers.
Cost-Conscious Customers:
Cost-conscious customers purchase goods or services primarily based on price. If another business offered a cheaper alternative, these customers would be likely to switch immediately.
Corporate Social Responsibility (CSR):
Corporate Social Responsibility (CSR) is the ethical conduct of a business beyond legal obligations, and the consideration of social, economic, and environmental impacts when making business decisions.
Sustainability:
Sustainability involves making an effort to ensure natural resources are not permanently depleted or damaged by business activities.
Auditing:
Auditing involves assessing a business’s financial information to verify that it is true and accurate.
Record-keeping Strategies:
Record-keeping Strategies are methods used to keep track of the financial transactions of a business over a period of time.
- Cashbooks
Financial Control Systems:
Financial Control Systems are processes and procedures used to direct and monitor a business’s finances.