Edexcel Business Key Terms

Adding Value

How a business sells a product for more than it costs through the processes they apply

Advertising

Promotional method where a business pays to place an advert in a form of media, such as a newspaper or television

Aesthetics

The attractiveness of the design of a product

Aims and Objectives

The overall goals of a business or organisation identifying what the business is trying to achieve

Application form

A method of applying for a job where the required details are decided by the business who is recruiting

Autonomy

The independence a worker has within their job

Average rate of return

The annual percentage profit that an investment makes compared to the cost of the investment

Bar gate stock control graph

A ethod of dsplaying data on stokc lev

Batch production

Bonus

Branding

Break even

Buffer stock

Business

Business environment

business plan

Capacity

Capital

Cash-flow

Cash-flow forecast

Cash inflow

Cash outflow

Centralised

Chain of command

Closing balance

Commission

Communication

Competition

Competitive advantage

Competitive environment

Competitive pricing

Consumer

Consumer income

Consumer law

Consumer rights

Consumer spending

Cost plus

Crowd funding

Curriculum Vitae

Customer engagement

Customer feedback

Customer loyalty

Customer needs

Customer satisfaction

Customer service

Customers

Decentralised

Delayering

Demographics

Design mix

Differentiation

Digital communication

Digital technology

Directors

Discrimination

Distribution

Dividend

E-commerce

Economic climate

Efficiency

Employees

Employment level

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Employment law

E-newsletter

Enterprise

Entrepreneur

Environmental considerations

E-tailer

Ethical objectives

Excessive communication

Exchange rate

Exports

Extension strategy

External finance

External growth

External influence

External recruitment

Fincance

Financial data

Financial objectives

Fixed costs

Fixed premises

Flat structure

Flexible hours

Flow production

Focus group

Formal training

Franchise

Franchisee

Franchisor

Freelance contracts

Fringe benefit

Full time working

Function

Gap in the market

Globalisation

Goods

Gross profit

Gross profit margin

Growth