key concepts

Question 1

Entrepreneur

Answer 1

individual who manages and organises a business, taking risks on doing so

Question 2

Minority Shareholder

Answer 2

a shareholders owning less than a a half of a company’s total shares

Question 3

Chief executive officer (CEO)

Answer 3

The top position in an organization, responsible for the success – or failure – of their organisation

Question 4

Share Capital

Answer 4

Funds raised through the sale of shares.
- large sums of money that have no interest rate

Question 5

Diversification

Answer 5

Expanding a company’s product or service offerings into new markets or industries to reduce risk and enhance growth opportunities.

Question 6

Aquisitions

Answer 6

When one company takes ownership of another company

Question 7

Private Limited Company

Answer 7

A for-proftit organisation that cannot raise share capital from the general public. Share are only sold to private family and friends

Question 8

Public limited company

Answer 8

A big company that are able to advertise and sells its shares to the general public via the stock exchange

Question 9

Efficiency

Answer 9

How effectively a company generates products and services related to the amount of time and money needed to produce them.

Question 10

Productivity

Answer 10

The amount of output a business/person can create compared to the number of resources they put into the task.

Question 11

Batch production

Answer 11

A manufacturing process where products are produced in groups or batches rather than individually, often to achieve efficiency and cost savings.

Question 12

Cellular production

Answer 12

A set of task are prescribed to one group of people (cells) and they are responsible for one part of the production process

Question 13

Absenteeism

Answer 13

Habitual non-presence of an employee at their job.

Question 14

Labour turnover

Answer 14

A measure of how many people leave a business over a given period of time
(number of staff leaving over a year / number of staff employed in a year) x 100

Question 15

Market reach

Answer 15

the estimated number of potential customers that you can reach with your message or an entire campaign

Question 16

Costumer Base

Answer 16

The group of people who repeatedly buy your company’s products or use your organization’s services.

Question 17

Niche market

Answer 17

A smaller, specialized segment of a larger market that caters to specific customer needs or preferences

Question 18

primary market research

Answer 18

A unique study done by and individual to discover the wants and needs of consumers who fit the description of your target market.

Question 19

Secondary market research

Answer 19

When a company uses existing information from other sources, like reports, articles, or surveys, to learn about its market and customers.

Question 20

Strategic Changes

Answer 20

Significant alterations in a company’s strategies, operations, or direction to adapt to market trends, improve performance, or achieve specific goals.

Question 21

CSR

Answer 21

A business’s commitment to ethical practices, community involvement, and environmental sustainability, beyond its economic goals.

Question 22

Motivational Theories

Answer 22

Theories that explain the factors that drive and influence human behavior and motivation, such as Maslow’s Hierarchy of Needs, Herzberg’s Two-Factor Theory, and more..

Question 23

Market Penetration

Answer 23

A growth strategy that focuses on increasing market share by selling more of the same products to existing customers in the current market.

Question 24

Liquidity Crisis

Answer 24

A situation where a company faces a shortage of available cash or assets that can be quickly converted into cash, often leading to financial difficulties.

Question 25

Fringe Benefits

Answer 25

Additional non-monetary perks or advantages offered to employees beyond their regular salary, such as health care, meals, or car allowances.

Question 26

Employee Engagement

Answer 26

The level of commitment, motivation, and involvement of employees in their work and the organization’s goals.

Question 27

Innovation

Answer 27

The introduction of new ideas, products, processes, or technologies that bring positive changes to a business or industry.

Question 28

Product portafolio

Answer 28

The complete collection of products and services sold by a company

Question 29

private equity business

Answer 29

an investment management business that provides financial backing and makes investments in operating companies

Question 30

financial rescue package

Answer 30

The set of loans, investments, or other financial advantages that are offered to a company, economy, etc. to save it from financial failure

Question 31

overdraft

Answer 31

a line of credit on your business bank account that gives you more short-term cash flow than your business can fund from its own capital.

Question 32

trade credit

Answer 32

A (B2B) agreement in which a customer can purchase goods without paying cash up front, and paying the supplier at a later scheduled date.

Question 33

liquidity

Answer 33

A company’s ability to convert assets to cash to pay its short-term obligations or liabilities

Question 34

unsold shares

Answer 34

Shares which may be offered for sale and have not been paid for.

Question 35

unsold stock

Answer 35

unsold inventory

Question 36

internal growth

Answer 36

a business grows using its own resources to increase the scale of its operations and sales revenue

Question 37

external growth

Answer 37

A business grows by; collaborating, buying up or merging with another firm

Question 38

Autonomy

Answer 38

The ability of individuals or groups within an organization to make decisions and take actions independently

Question 39

Multinational Company

Answer 39

A company that has business operations in at least one country other than its home country.

Question 40

Intrapreneur

Answer 40

Individuals who are tasked with creating new and innovative products within an already-established business

Question 41

External environment

Answer 41

Includes all factors outside the reach of the business, that can impact the operations of the business

Question 42

Automatisation

Answer 42

the use of technology to automate processes and functions within an organization.