Business Vocab 8 Flashcards
Tertiary sector business activity
Firms providing services to consdumers and other businesses such as retail trasnport…
Total float
The amount of time an activity can be delayed without delaying the whole project duration
Trade bariers
Taxes tarrifs or other limitations on the free international movement of goodsd and services
Trade payables
The value of debts for goods bought on credit payable to suppliers
Trade receivables(debts)
The value of payments to be received from customers who have bought goods on credit
Trade union
Organisation of working people who work to improve the pay and working conditions
Transformational leadership
The leader works with the team
Transformational process
Transformes one or more inputs, added value to them and produces output for customers
Unfair dismissal
Ending a workers contract due to no legal reasos
Unique sellinfg point
Special future of a product
Unlimited liability
Business owners have full legal responsibility for the debts of the busieness
Variance analysis
Calculation of the differences between budgets and actual figures
Venture capital
Risk capital invested in the start up of the business
Vertical integration
Integration with a business in the same industry
Workforce audit
A check on the skills and qualifications of all existing workers, managers
Workforce planning
Forecasting the number of workers and the skills that will be reuired by the organisation to achieve its objectives
Working capital
The capital needed to pay for raw materials
Zero budgeting
Sets budget to 0 each year and budget holders argue over target levels to receive any finance
Zero hours contract
Emplyment contract that does not guanarntee a minimum numbers of hours per week
