Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Buisiness > Building A Business > Flashcards

Building A Business Flashcards

1
Q

What is internal growth also known as?

A

Organic growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is external growth also known as?

A

Inorganic growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What is internal growth or organic growth?

A

Internal growth occurs when a business expands by self by bringing out new products or entering new markets.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are three methods of internal growth or organic growth?

A
  • entering new markets
  • innovating new products
  • investing in the latest technology
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What is external growth or inorganic growth?

A

When a business joins forces with another normally a faster way for a business to grow.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What are two methods of external growth or inorganic growth

A
  • merger

- takeover

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What are four external reasons why business objectives may change?

A
  • competition
  • legislation
  • market conditions
  • technology
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What are three internal reasons why business objectives may change?

A
  • performance
  • leadership
  • culture
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What is retrenchment?

A

Retrenchment is when a business downsides of the scale of its operations e.g. decreasing the range of products it sells or closing some of its stores.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are five trade barriers?

A
  • tariffs
  • non-tariff barriers
  • trade blocks
  • subsides
  • quotas
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are tariffs?

A

Taxes on imports

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What are nontariff barriers?

A

Imposing quality or safety standards.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What are trade blocks?

A

Promoting trade between a small group of countries (EU)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

What are subsides?

A

Money given to help domestic producers?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What are quotas?

A

Physical limits on imports e.g. ocean.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are four reasons for trade barriers?

A
  • protecting jobs in domestic industries
  • projecting emerging industries
  • preventing the dumping of cheap goods on the domestic market and the entry of undesirable goods
  • raising revenue from tariffs
17
Q

What is e-commerce?

A

e-commerce is the activity of buying and selling products online services all over the Internet

18
Q

What are the four stages of the product life-cycle?

A
  • introduction
  • growth
  • maturity
  • decline
19
Q

How do you calculate gross profit?

A

Sales revenue - cost of sales

20
Q

How do you calculate net profit?

A

Sales revenue - all costs

21
Q

How do you calculate gross profit margin?

A

Gross profit
—————— X100
Sales revenue

22
Q

How do you calculate net profit margin?

A

Net profit
—————— X100
Sales revenue

23
Q

How do you calculate average rate of return?

A

Average annual profit
————————— X100
Cost of investment

24
Q

What is remote working?

A

This is when employers can work from home while keeping in touch with colleagues through teleconferencing and email.

Buisiness (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions