Theme 1 Key Terms Flashcards
payment platforms
enable businesses to take online payments from customers. They are usually for free for the customer, but may take a small amount of commision from the seller
marketplace
the activites involved in buying and selling particular types of goods or services, in competition with other companies
demographic
relating to the ppulation such as average age, average income and so on
risk
the possibility that the entreperneur will have lower than anticipated profits or will experience a loss
market research
the process of gathering information about the market and customer’s needs and wants in order to help inform business decisions , icnluding product design and marketig
revenue forecast
a predicition of future revenue based on exected sales, a judgemnet or based of previous sales patterns
ethics
moral principles or standards that guide the bhaviour of a pwrson or business.
obsolete
out of date/ not used any more
tax
a proportion of an individula’s income or a business’s progits that must be paid to the goverment
Bank of England
the central bank of the united kingdom that manges the countrie’s debts and sets intrest rates which influence the exchange rates between other currencies
Bank of England
the central bank of the united kingdom that manges the countrie’s debts and sets intrest rates which influence the exchange rates between other currencies
globalisation
when a business operates on an international scale and gain interational influence or power
levy
a tax on a particular product or service
protected characteristic
a characteristic that cannot be used in the recruitment process to reject a candidate such as age, disablity, sex, pregnancy, race, religion or sexula orientation
induction
the peiod of time after an employee starts a job, when they must be shown how to work safely and within the employer’s expectations
legislation
the law that acountry must comply with
real-time
live or as it happens
conflict
a serious disagreement usually between people or countries regarding ideas
paymnet terms
the period of time that a business has to pay it’s suppliers
stock exchange
a place where shares can be bought and sold
private limited company
an incorportaed company that i sowned by shareholdesr who invest in the business for return for a share of the profits and coting rights at the annual general meeting
public limited company
(PLC)
can sell it’s share to the public
budgets
pre-set finacila targets for a business to achieve like a sales budget or an expenditure budget in a given peiod of time
SMART Objectives
specific, measurable, achievable, realistic and time bound
