Learning Aim A Flashcards
Private sector
making profit; break even; survival; growth; market leadership
Public sector
cost control; value for money; service quality; meeting government standards
Voluntary sector
supporting communities
Private business
private limited companies (LTD); public limited company (PLC)
Public business
Public corporation; Local Authority
Local business
aimed in a specific town
National business
operates throughout a particular country
International business
trades across international borders
Multi-national business
has assets or activities in another country
Sole trader
the company is owned by an individual; unlimited liability
Partnership
two or more people come together to form a business; profits are shared
Micro business
Up to 9 people
Small business
10 to 49 people
Medium business
50 to 249 people
Large business
250+ people
Stakeholders
an interest in the business, impact business plans and objectives
Customer Groups
age, gender, ethnicity, disability, socio economic
Additional Facilities
Car parking, changing areas, refreshments, lockers, creche
Sport Services
Instruction, therapeutic, customer service
Programmes to promote participation
Health and fitness, school, swimming pool, gym, specific groups
Multi-use facility
public sector funded, includes leisure centres, football pitches, sports halls
Members only clubs
private companies, facilities only for members
Shareholders
owns a percentage of the business, has some authority in company decisions
SWOT Analysis
Strengths, weaknesses, opportunities, threats
PESTLE Analysis
Political, economical, social, technological, legal, environmental
Person Specifications
The essential and desirable requirements needed in order to be able to work in the job role
Job Description
Gives a clear definition of roles and responsibilities of the job
Human Resources
Managing people within a business, timetabling, salaries, conditions of employment
Physical Resources
Suppliers and materials, contracting, changes in staffing needs, events and foreseen risks
Resource Maintenance
Emergency cover, health and safety, assets, leasing options, maintenance and refurbishments, budgetary restraints.
Interest rates
The amount of a loan that is charged to a borrower
Foreign Exchange rates
The rate at which one currency is exchanged for another such as British Pound to US Dollars
Inflation
The rate at which the cost of goods and services rises.
Globalisation
When businesses and organisations develop international operations and influence
Types of employment
Part time, full time, seasonal roles, consultant, volunteer, franchises
Marketing
Marketing products to reach customer needs and expectations
Marketing 7 P’s
Product, Price, Promotion, Place, People, Process, Physical Environment
Above the line marketing
Advertising to the general public e.g. radio adverts, magazine and newspaper adverts and TV adverts.
Below the line marketing
Advertising to a niche audience, personalised adverts e.g. social media adverts, public posters, leaflets, in-store promotions.
