(part 3 ) terms list [alphabetical] Flashcards
environmental impact assessment
an assessment of how a businesses plan are likely to affect the environment
equity capital
money the owners (and shareholders) have invested in the business
equity finance
money an investor gives to an entrepreneur for a business, in return the investor receives a share in the business and gets an annual dividend
ethical business practices
conducting business according to a set of moral principals which ensures that the business does the right thing in all situations
ethics auditor
an independant outsider who examines every aspect of a business to see whether the business is behaving ethically
Eu competition policy
a set of rules that sims to ensure free and fair competition bet. businesses in the EU , also bans the formation of cartels
EU decision
An EU law that might apply to only 1 country business or citizen , it is implemented immediately
EU directive
an EU law that must be implemented within a set time by all member states
EU regulation
EU law that applies immediately in all member states
Eu social charter
The Eu’s social policy , it aims to improve working and living conditions for EU citizens
European commision
An EU body that runs the EU , proposed new EU laws and enforces them if they become law
European court of auditors q
the EU body responsible for ensuring that the EU budget is managed properly
European Parliament
the eu body that supervises the eu , it debates proposed laws and approves the eu budget
exchange rates
how much of a foreign currency you can get for 1 €
executive summary
a summary of major findings and conclusions of a report
Export credit insurance
a guarantee given by the gov. that it will pay an irish exporter if it’s foreign customer does not pay up
extractive industry
primary sector *
facilitator manager
a manager that consults the employees and encourages them in their work
factoring
a short term source of finance , a business sells it’s debtors to a bank for cash , bank charges a fee for the service
factoring with recourse
type of factoring ,
factoring without recourse
type of factoring ,if any debtors fail to pay up , the business doesn’t have to reimburse the bank
factors of production
the essential items needed to make a finished product , they are land labour capital and enterprise
feasibility study
a study to assess the practical implementation of an idea
field research
carrying out new research in marketing
financial statements
docs. drawn up by a business to compute its annual (profit and loss account) and its assets and liabilities (balance sheet)
fixed rate loan
a loan that charges the same rate of interest every year for a specified number of years
flexitime
an employment arrangement where a buisness is flexible about what time employees start and finish work
focus group
consumer panel *
Form 12A
a form that employees complete when they start working for the first time , they return the completed form to revenue
Form A1
a form completed by the owners of a private limited co. , it outlines the company name, registered offices, directors and secretary
forward vertical integration
defensive reason for business expansion , a business takes over the firm that distributes its products in order to guarantee distribution
franchise
a business expansion strategy , a business allows another entrepreneur to copy its business exactly , in return for a fee
franchisee
an entrepreneur who opens a business by opening a franchise
franchiser
an entrepreneur who sells a business idea as a franchise
free trade
the ability of a country to buy and sell products with other countries without restrictions
functional organisation structure
that splits a business up into major jobs (or functions) to be done , such as marketing, production and so on
Gearing
the ratio of borrowings and investments used to finance a business , Low gearing means that he owners have invested more than they have borrowed . Neutral gearing means that the owners have invested the same amount as they have borrowed , High gearing means that the owners have borrowed more than they have invested
Generic advertising
type of advertising , it is used to advertise an entire industry rather than just a specific brand
geographic organisational structure
an organisation structure that splits a business up into the major geographic regions that it operates in
global marketing
selling the same product all over the world using a global marketing mix
globalisation
the trend for businesses to operate throughout the entire world
green investment fund
an investment fund that invests only in socially responsible businesses
gross profit
the profit made from the sale of goods , after subtracting the cost of making or buying the goods
gross profit percentage
a calc that shows what percentage of sales is gross profit , the formula is ( gross profit % sales ) * 100
hierarchy of needs
a theory developed by Abraham maslow , it argues that people have a hierarchy of psychological, social , safety , esteem , and self actualisation needs
Hire purchase
a medium term source of finance , an individual/business
buys an item collects it , and pays for it in installations over an agreed period of time
HRM
human resource management , the process of managing employees in a business
IBEC
Irish business and employers confederation (interest group)
ICMSA
irish creamery milk suppliers assn’ (interest group)
ICT
information and communication tech. , any tech. that enables communication in a business
ICTU
Irish congress of Trade unions (interest group)
IFA
Irish farmers assn’ (interest group)
illiquid
lack of ready cash needed to pay short term bills
import substitution
an indigenous version os an imported product
indemnity
insurance principle that states that you cannot make a profit from an insurance claim
indigenous firm
irish business set up by irish people that makes its products in Ireland
industrial action
action taken by employees when conflict with the employer cannot be resolved
industrial democracy
employee participation
industrial relations act 1990
an act that legislates on industrial relations issues, such as industrial action
inflation
% increase in the general level of prices in a country in a year measured by CPI
informative advertising
type of advertising , a business gives specific info. about the product
INO
irish nurses organisation (interest group)
inorganic growth
quick expansion of a business using a merger , a strategic alliance or a takeover
insurable interest
an insurance principle that states that you can only insure something you own (and you must suffer a loss if the thing is damaged/lost/dies )
intention to contract
an essential element of a contract , it means that the parties to the contract understand that it is legally binding
interest group
a group of people who campaign for a common goal
international trade
commerce bet. diff. countries , it involves importing/exporting
intrapreneur
an employee who presents business ideas to his employer
invitation to treat
an advert , a price tag , or a shop display , is an indication of the price someone is prepared to accept for goods/services , it is not legally binding
invoice
a bill for goods sold on credit
ISME
irish small and medium enterprises (interest group)
ISO
international org. for standardisation
ISO 9000
a mark of quality awarded by the ISO
