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Definition

Key term

1.

Refers to an organization's expansion or evolution through mergers, acquisitions, or strategic partnerships with other firms.

External growth

2.

An organization that operates in two or more countries, typically with its headquarters in the country of origin.

Multinational company (MNC)

3.

An external stakeholder group that exists to influence and persuade organizations and governments to act in a social responsible way.

Pressure group

4.

The conscience and commitment of a business organization, with consideration of its actions on different stakeholders, local communities, and the natural environment.

Corporate social responsibility (CSR)

5.

A growth strategy where a business spreads its risks by expanding into new products and markets, away from its traditional line of business.

Diversification

6.

An incorporated business organization owned by shareholders, with the shares being traded on a public stock exchange.

Publicly held company

7.

An elected group of senior executives to represent the interest of its owners (shareholders), providing strategic direction and oversight to ensure the company’s success.

Board of directors

8.

The expansion of a business organization due to an increase in its size and/or the size of the industry in which it operates.

Growth

9.

A growth strategy that involves one company buying a controlling interest (majority stake) in another business, thereby acquiring control and ownership of the target company.

Takeover

10.

Promotion strategies are the plan(s) of action for an organization to communicate with target markets as well as to inform, persuade, or remind consumers about products or services.

Promotional strategy