Glossary

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• Above the line methods of promotion
• Absenteeism
• Absorption costing
• ACAS
• Accidents in the workplace
• Accountability
• Accountancy norms
• Accounting
• Accounting equation
• Accounting rate of return (ARR)
• Accounts (financial)
• Accrual (or matching) principle
• Accruals
• Acid test ratio
• Acquisitions
• Adaptation (or localisation)
• Adding value
• Administration (when a business goes into)
• Administrative Receivership
• Adverse variances
• Advertising
• Age discrimination
• Aged debtors analysis
• Ageing population / Ageing workforce
• Agency staff
• Agents
• AIDA
• Aim
• Allocation of resources
• Alternative Investment Market (AIM)
• Annual hours contracts
• Ansoff’s matrix
• Appraisal (Staff)
• Appreciation
• Appropriation account
• Arbitration
• Articles of Association
• Artificial resources
• Assessment centre
• Asset turnover
• Assets
• Attitudes
• Augmented product
• Authoritarian leadership
• Authority
• Autocratic leaders
• Automated machinery
• Automation
• Average cost
• Average incomes
• Average rate of return
• B2B
• B2C
• Backwards integration
• Backwards vertical integration
• Bad debts
• Balance sheet
• Bank loans
• Bankruptcy
• Banner ads
• Barriers to communication
• Barriers to entry
• Barriers to exit
• Batch production
• Behavioural job interviews
• Behavioural segmentation
• Below the line methods of promotion
• BEM’s
• Benchmarking
• BERR
• Big Emerging Economies (BEM’s)
• Billboard advertising
• Black market
• Blake-Mouton Managerial grid
• Board of directors
• Bond (as a source of finance)
• Bonuses (Cash)
• Book value
• Boom
• Boston matrix
• Brainstorming
• Brand / brand name
• Brand awareness
• Brand loyalty
• Branding
• Break-even
• Break-even analysis
• Break-even chart
• BRIC
• British standards institute (BSI) or BSI Group
• Brochure
• BS 5750
• Budget retailers
• Budgetary control
• Budgeting
• Budgets
• Buffer stock (inventory)
• Bulk purchasing
• Bullying (in the workplace)
• Business activity
• Business aims
• Business culture
• Business customers
• Business cycle
• Business environment
• Business ethics
• Business failure
• Business functions
• Business in the Community
• Business Link
• Business objectives
• Business performance
• Business plan
• Business planning
• Business processes
• Business rates
• Business resources
• Business strategy
• Business to business market / marketing
• Business to consumer markets / marketing
• CAD
• CAM
• Capacity
• Capacity cushion (or surplus)
• Capacity shortage
• Capacity utilisation
• Capital
• Capital (or industrial) goods
• Capital employed
• Capital expenditure
• Capital for Enterprise Limited (CfEL)
• Capital Gains Tax
• Capital intensive production / processes
• Capital or labour intensity
• Cash
• Cash budget
• Cash Cows
• Cash flow
• Cash flow forecast
• Cash inflows
• Cash outflows
• Catchphrase
• Cell production
• Census survey
• Central Government bodies
• Centralisation
• Charity
• Classical theories of motivation
• Closing bank balance
• Closure
• Cluster sampling
• Coaching
• Cognitive ability tests
• Collective bargaining
• Commercial employment agencies
• Communication
• Communication flows
• Communication networks
• Communications technology
• Companies House
• Companies limited by guarantee (not-for-profit corporation) are similar to a company limited by shares (Ltd or plc)
• Company Accounts
• Comparisons of financial data
• Competitive advantage (CA)
• Competitiveness
• Competitor-based budgeting
• Competitors
• Complements
• Compulsory redundancies
• Computer-aided design (CAD) also known as computer-aided drafting
• Computer-aided manufacture (CAM)
• Conciliation
• Consolidation
• Consultants (or advisors)
• Consultation
• Consumables
• Consumer expectations
• Consumer goods
• Consumer marketing
• Consumer panel
• Consumer sovereignty
• Consumers
• Content theories of motivation
• Contingency plans
• Contribution
• Contribution or marginal costing
• Contribution per unit
• Convenience sampling
• Copyright
• Core and periphery workforce
• Corporate
• Corporate aims
• Corporate culture
• Corporate objectives
• Corporate strategy
• Corporation
• Corporation tax
• Correlation
• Cost centre
• Cost leadership strategy
• Cost minimisation
• Cost of sales
• Cost-plus pricing
• Costs
• Credit
• Credit collection period
• Creditors
• Creditors falling due after one year
• Critical activities
• Critical path analysis
• Culture
• Current assets
• Current liabilities
• Current ratio
• Customer expectations
• Customer requirements
• Customer service
• Customer value pricing
• Customers
• Customs duties
• Databases
• Debentures (stocks, bonds or gifts)
• Debt collection period
• Debt factoring
• Debtors (Trade and other receivables)
• Decentralisation
• Decision
• Decision trees
• Decision-making
• Declining market
• Deed of Partnership
• Degree of competition
• Delayering
• Delegation
• Delphi technique
• Demand
• Demographic segmentation
• Demography
• Department for Business Enterprise and Regulatory Reform (BERR)
• Departmentalisation
• Depreciation
• Descriptive market research
• Design technology
• Designed capacity
• Desk research
• Determinants of competitiveness
• Diagonal communication
• Differentiation strategy
• Dinky
• Direct costs
• Direct exporting
• Direct mail
• Direct marketing
• Direct observation
• Direct response marketing
• Direct Sales / Selling
• Direct services
• Director
• Discounted cash flow
• Discretionary income
• Diseconomies of scale
• Disposable income
• Dissolution
• Distribution channel
• Distributors
• Diversification
• Dividend cover
• Dividend payable
• Dividend per share
• Dividend yield
• Dividends
• Dividends payable
• Divisional organisational structure
• Dogs
• Door to door leaflet marketing (mail drops)
• Durable goods
• Duties
• Earnings per share
• Economic growth
• Economic order quantity
• Economies of scale
• EDI
• Effective capacity
• Efficiency
• Elasticity of demand
• Email marketing
• Emerging market
• Employee representation
• Employee shareholders
• Employees
• Empowerment
• EN 29000
• Enterprise
• Enterprise Capital Fund
• Entrepreneur
• Entrepreneurship
• EPOS
• Equipment
• Equity shareholders’ funds
• Equity Theory (John Stacey Adams)
• Ethics
• Eurostat
• Exchange rate
• Executive directors
• Expansion
• Expenditure budgets
• Expenses
• Explanatory market research
• Exploratory market research
• Extension strategy
• External economies and diseconomies of scale
• External factors
• External influences
• External methods of finance
• External recruitment
• Extraordinary / exceptional items
• Extrapolation
• Factoring
• Factors of production
• Family tree / life cycle
• Favourable variances
• Feedback
• Field research
• Finance
• Finance costs
• Finance income
• Financial Accounting / Accounts
• Financial assets
• Financial Efficiency ratios
• Financial objectives
• Financial Profit
• Fixed asset finance
• Fixed assets
• Fixed costs
• Fixed term contracts
• Flexible working practices
• Floating ads
• Flow production
• Focus (or market segmentation) strategy
• Focus groups
• Forecasted profit and loss
• Forecasting cash flow
• Foreign independent presence
• Form 10
• Form 12
• Formal communication
• Formalisation
• Forwards integration / forwards vertical integration
• Fragmented market
• Franchise
• Franchisee
• Franchising
• Franchisor
• Free market or laissez-faire approach to business
• Fringe benefits
• Full costing
• Full-cost pricing
• Full-time employee
• Functional objectives
• Functional organisational structure
• Functional strategy
• Gearing
• Geographic segmentation
• Go slow
• Going rate pricing
• Goods
• Goodwill
• Government grant
• Government support
• Gross profit
• Gross profit margin
• Growing / growth market
• Growth
• Hard (human resource) HR strategies
• Hawthorne Experiments and Hawthorne Effect (Elton Mayo 1880-1949)
• Health and safety legislation
• Hierarchy
• Hire purchase
• Homeworking
• Horizontal analysis
• Horizontal integration
• HR) Objectives
• HR) strategies
• Human relations and content theories of motivation
• Human resources
• Human Resources objectives
• ICT
• Impact of the entire business’s activities on society
• Implementation schedule / plan
• In-depth interviews
• Income budgets
• Income generated by a business
• Income statement (or profit and loss account)
• Independent contractor
• Indirect costs or overheads
• Indirect exporting
• Induction
• Industrial marketing
• Industrial tribunal
• Industry comparisons
• Informal communication
• Information technology
• Infrastructure
• Innovation
• Inorganic growth
• Inputs
• Insolvency
• Intangible assets
• Integrated marketing mix
• Integration
• Inter-firm comparisons
• Internal factors
• Internal influences
• Internal methods of finance
• Internal recruitment
• International markets
• Internet advertising
• Invention
• Inventory (stock)
• Inventory (Stock) turnover
• Investment
• Investment appraisal
• Investment criteria
• ISO 9001
• Job allocation
• Job description
• Job enlargement
• Job enrichment
• Job interviews
• Job production
• Job rotation
• Job-sharing
• Joint venture
• Judgement sampling
• Just-in-time (JIT) production
• Kaizen
• Kaizen groups and quality circles
• Labour intensive production or processes:
• Labour productivity
• Labour shortfall
• Labour turnover
• Laissez-faire or free market approach to business
• Lateral (or horizontal) communication
• Lateral expansion / integration
• LEA’s
• Lead time
• Lean production
• Leasing
• Legal structure
• Liabilities
• Licensing
• Limited liability
• Limited liability partnership (LLP)
• Limited partnership
• Line of best fit
• Link exchanges and affiliate marketing
• Liquidation (or winding up)
• Liquidity
• Liquidity (or solvency) ratios
• Loan capital (or loans)
• Local and national job centres
• Local Enterprise Agencies (LEA’s)
• Local government bodies
• Local markets
• Lockouts
• Logo (or ideogram)
• Long-term
• Long-term liabilities
• Loss leaders
• Mail drop
• Management Accounting
• Management Functions
• Manager
• Managing by walking about
• Manual labour
• Manufacturing Resource Planning (MRP) software
• Margin of safety
• Marginal costing
• Mark-up
• Market
• Market analysis
• Market conditions
• Market development
• Market failure
• Market growth
• Market intelligence organisations / agencies (commercial)
• Market niche
• Market penetration
• Market research
• Market saturation
• Market segment
• Market segmentation
• Market share
• Market size
• Market structures
• Marketing
• Marketing budget
• Marketing mix
• Marketing objectives
• Marketing Plan
• Marketing strategy
• Marketing tactics
• Maslow’s Hierarchy of Needs (Abraham Maslow 1908-1970)
• Mass marketing
• Mass production
• Matching principle
• Matrix organisational structures
• Mature market
• Mechanistic organisational structure
• Mediation
• Medium-term
• Memorandum of Association
• Mentoring
• Merchandising
• Mergers
• Merit based payment systems (payment by results)
• Method of finance
• Minority interests
• Monopolistic competition
• Monopoly
• Morale
• Mortgages
• Motivation
• Motives
• Moving averages (or rolling averages)
• Multi-nationals
• Multi-site
• National markets
• National Statistics Socio-economic Classification (NS-SEC)
• Natural wastage (of labour)
• Needs
• Negative cash flow
• Negative correlation
• Net assets
• Net cash-flow
• Net current assets
• Net current liabilities (net current assets)
• Net present value
• Net profit
• Net profit (profit before tax)
• Net profit margin
• Network planning
• New product development
• Niche market (or market niche)
• Niche marketing
• Niche product (or product niche)
• No strike deals
• Non-critical activities
• Non-current assets (or fixed assets)
• Non-current liabilities (long-term liabilities)
• Non-executive directors
• Non-operating income
• Non-probability sampling
• Non-random (or non-probability or judgement) sampling
• Non-standard orders
• Not-for-profit businesses (or non-profit organisations ie NPO’s)
• Not-for-profit corporation
• NPO’s
• NS-SEC
• Objectives
• Off-shoring
• Off-the-job training
• Office of National Statistics (ONS)
• Oligopoly
• On-the-job training
• One of the four categories on the Boston Matrix – a tool of product portfolio analysis that classifies a
• Online advertising
• ONS
• Opening bank balance
• Operating profit (net profit)
• Operational objectives
• Operational performance
• Operational targets
• Operations
• Operations management
• Opportunity cost
• Optimal decision
• Oral communication
• Ordinary share capital
• Organic Growth
• Organic organisational structure
• Organisational culture
• Organisational structure
• Outdoor advertising
• Outputs
• Outsourcing
• Over-financing / borrowing
• Over-investment in fixed assets
• Overdrafts
• Overheads
• Overtime
• Overtime ban
• Overtrading
• Own label
• Owner’s fund
• Packaging
• Part-time employees / staff
• Participant observation
• Partnership (standard)
• Patents
• Payables’ (Credit) collection period
• Payback
• Pendulum arbitration
• Penetration pricing
• People
• Perfect competition
• Performance review
• Performance-related pay
• Permanent employee
• Person specification
• Personal selling
• Personal sources of finance
• Personality tests
• Physical evidence
• Physical markets
• Picketing
• Piece rate pay
• Place
• Pop up and under ads
• Population
• Porter’s 5 Forces Model
• Positive correlation
• PR (Public Relations)
• Predatory (or destroyer) pricing
• Predictive market research
• Preference share capital
• Prepayments
• Price
• Price discrimination
• Price earnings ratio
• Price elastic
• Price elasticity coefficient
• Price elasticity of demand (PED)
• Price inelastic
• Price leaders
• Price per unit
• Price skimming
• Price takers
• Price-insensitive
• Pricing strategies
• Pricing tactics
• Primary Industries / sector
• Primary needs
• Primary research
• Prime costs
• Private limited company (Ltd)
• Private ownership
• Private sector businesses
• Process
• Process theories of motivation
• Process waste
• Product / Service
• Product development
• Product differentiation
• Product endorsement
• Product life cycle
• Product line
• Product niche
• Product portfolio
• Product portfolio analysis
• Production
• Productivity
• Profit
• Profit after tax
• Profit and loss account
• Profit before tax
• Profit budgets
• Profit centre
• Profit for the year (profit after tax)
• Profit margins
• Profit quality
• Profit share
• Profit utilisation
• Profitability
• Profitability ratios
• Projected Balance Sheet
• Promotion
• Promotional mix
• Protectionism
• Psychographic segmentation
• Psychological pricing
• Psychometric tests
• Public limited company (plc)
• Pulling strategies
• Pushing strategies
• Qualitative factors
• Qualitative research
• Quality
• Quality assurance
• Quality circles
• Quality control
• Quality standards
• Quantitative factors
• Quantitative research
• Question mark
• Quota sampling
• Quotas
• Random (or probability or non-judgement) sampling
• Ratio analysis
• Rationalisation
• Receivables’ (Debt) collection period
• Recruitment
• References
• Regional venture capital funds
• Reject rate
• Related diversification
• Relocation costs
• Representative sample
• Research and development
• Retailers
• Retained profit
• Return on capital (ROC)
• Return on capital employed (ROCE)
• Return on equity (owners / shareholders investment)
• Revaluation reserve
• Revenue (turnover)
• Revenue expenditure
• Reward
• Risk
• Risk taking
• Robot
• Robotics
• Running costs
• Salary
• Sale and leaseback
• Sale of assets
• Sales forecast
• Sales forecasting
• Sales promotions
• Sales-based budgeting
• Sample
• Sample survey
• Sampling
• Sampling error
• Sampling frame
• Saturated market
• Scale of production
• Scatter graph
• Scientific Management (Frederic Taylor 1856-1917)
• Seasonal demand
• Secondary Industries / sector
• Secondary needs
• Secondary research
• Selection
• Semi-skilled workers
• Semi-variable costs
• Sensitivity analysis
• Services
• Services to trade
• Severance
• Share capital
• Share ownership (and share option) schemes
• Share premiums
• Shareholder ratios
• Shareholder’s equity
• Shareholders’ funds
• Shareholders’ returns
• Shift work
• Short-term
• Shortlisting
• Sidebar ads
• Simple random sampling
• Simultaneous engineering
• Single site
• Single union agreements
• Sit-ins
• Site
• Sitting next to Nellie
• Skilled workers
• Sleeping partners
• Slogan
• Small firm loan guarantee scheme
• SME’s
• Snowball sampling
• Social network advertising
• Social responsibility
• Soft (human resource) HR strategies
• Sole trader
• Source of finance
• Span of control
• Sponsorship
• Spreadsheets
• Staff Appraisal
• Stagnated market
• Standardisation (or globalisation)
• Standards
• Stars
• Start-up costs
• Stock (inventory)
• Stock control
• Stock Exchange
• Strategies
• Stratified sampling
• Streamlining
• Strikes
• Structured job interviews
• Sub-brands
• Subcontracting
• Substitutes
• Supervisor
• Suppliers
• Survival
• Systematic sampling
• Systems of quality assurance
• Tactical decisions
• Tangible assets
• Target based pricing
• Targeting / target marketing
• Tariffs
• Team
• Team leader
• Technology
• Telemarketing (or telesales)
• Teleworking
• Temporary employee
• Temporary work
• Tertiary Industries / sector
• Test marketing
• Test markets
• Text message marketing
• Theory X and Theory Y (Douglas McGregor 1906-1964)
• Time based payment systems
• Time-based management
• Total assets less current liabilities
• Total costs
• Total equity
• Total equity or shareholders’ funds (or capital employed for a sole trader)
• Total Quality Management (TQM)
• Total revenue
• Trade
• Trade and other payables (Creditors)
• Trade and other receivables (Debtors)
• Trade credit
• Trade cycle
• Trade marks
• Trade union
• Training
• Transform
• Trend
• Trend analysis
• Trust
• Turnover
• Two Factor Theory (Frederic Herzberg 1923-2000)
• Unauthorised absence
• Uncertainty over investment decisions
• Unicast ads
• Unincorporated / informal associations
• Union density
• Unique selling point / proposition (USP)
• Unit contribution
• Unit cost
• Unitary
• Unlimited liability
• Unorganised industrial action by employees
• Unrelated diversification
• Unsecured loans
• Unskilled workers
• Unstructured job interviews
• USP
• Value added
• Value added tax
• Value analysis
• Value-expectancy theory (Victor Vroom)
• Variable cost-plus pricing (or direct cost-plus pricing)
• Variable costs
• Variance
• Variance analysis
• VAT
• Vehicle excise duty
• Venture capital
• Vertical analysis
• Vertical communication
• Vertical integration
• Virtual or electronic markets
• Voluntary redundancies / early retirement
• Wages
• Wants
• Waste
• Web advertising
• Website
• White-collar workers
• Wholesalers
• Wild child
• Window Dressing
• Withdrawal of overtime and suspension
• Work loads
• Work measurement
• Work to rule
• Work-ins
• Work-sample tests
• Worker directors
• Workforce plan
• Workforce planning
• Working capital
• Works council
• Written communication
• Yuppie
• Zero correlation
• Zero hours contracts
• Zero-based budgeting