A LEVEL EDEXCEL BUSINESS PAPER 1
above-the-line promotion - ANS - promotion that involves the use of media (newspapers, TV,
cinema, radio, internet and social media)
\added value - ANS - the extra features that may be offered when selling a product which helps
to exceed customer satisfaction
\administrative barriers - ANS - rules and regulations that make it difficult for importers to
penetrate an overseas market
\agent/broker - ANS - an intermediary that brings together buyer and seller (travel and estate)
\aim - ANS - what a business tries to achieve in the long term
\articles of association - ANS - a document that provides information on the internal running of
the business
\ASEAN - ANS - association of southern east Asia nations - 10 countries including Singapore
and Vietnam
\assessment of a country as a production location - ANS - ease of doing business,
infrastructure, political stability, skills and availability of a labour force, natural resources, likely
return on investment and location in trading bloc
\assessment of a country as a market - ANS - ease of doing business, infrastructure, disposable
income, political stability and exchange rate
\autocratic leadership - ANS - leader makes all decision (army - needs to follow orders)
\B2B - ANS - business to business (wholesaling) - COSCO wholesale
\B2C - ANS - business to consumer (retailer) - TESCO
\barriers to entry - ANS - factors that make it difficult for new entrants from entering the market
\below-the-line promotion - ANS - promotion that doesn't involve the use of the media
\bonus - ANS - a payment in addition to wage
\Boston matrix - ANS - 2x2 model that analyses a product portfolio of a business according to its
market growth and market share (cash cow, star, question mark and dog)
\brand name - ANS - a name, sign, symbol or other feature that allows consumers to identify the
goods of a business and differentiate it from rivals
\brands - ANS - manufactorer brands (Heinz Beans), own-label (Tesco value beans) and
generic (carrots)
\breaking-bulk - ANS - buying products in large quantities and selling them in smaller chunks
\BRIC - ANS - Brazil, Russia ,India and China
\centralisation - ANS - decision-making takes place in the core of the workplace (top-down)
\certificate of incorporation - ANS - a document that declares that a business is allowed to
operate as a limited company
\chain of command - ANS - the way authority and power is organised in the workplace
\choices - ANS - when a business has to choose between alternatives or resources
\choosing promotion - ANS - cost, market type, product type, stage in product lifecycle, legal
factors and competitors promotion
\code of conduct - ANS - a set of rules outlining the practices of an organisation
, \collective bargaining - ANS - a method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
\commission - ANS - percentage payment on a sale made
\common market/ single market - ANS - market where goods and services can more freely
among member countries.
\comparative advantage - ANS - country should produce products and services that it can
produce more effectively than other countries
\competition policy - ANS - government policy that exists to promote competition and prevent
high marketing power of businesses
\competitive advantage - ANS - an advantage that helps a business to perform better than its
rivals
\competitive advantage (4) - ANS - idea that a business should specialise in any area that it can
perform better than other rivals
\competitive pricing - ANS - setting a price accordingly to rivals
\complementary goods - ANS - goods that are purchased together because they are consumed
together (milk and cereal)
\consumer panel - ANS - group of consumers are asked for feedback of a product after a period
of time
\cost-plus pricing - ANS - adding a mark-up to the cost of making the product to get the price
\cultural audit - ANS - study or examination of a country's culture to determine whether they
support or hinder the business's mission statement and vision
\cultural/social factors - ANS - unintended meanings, language, inappropriate/inaccurate
translations, differing tastes and inappropriate/inaccurate promotion
\customs union - ANS - a market where trade barriers are reduced and all member countries
adapt the same rules/barriers against non-member counties
\CV (curriculum vitale) - ANS - a document that lists personal details, qualifications, education,
experience and other specific details required by jobseeker
\database - ANS - a system that stores data electronically - has features such as find and
sorting.
\de-centralisation - ANS - decision-making is pushed down the chain of command away from
the core (subordinates - bottom-up)
\deed of partnership - ANS - a binding legal document that declares the right of partners
\delayering - ANS - removing layers of the workplace (usually involves senior management)
\delegation - ANS - passing authority further down the hierarchy
\demand - ANS - amount of a product consumers are willing and able to buy at any given price
\democratic leadership - ANS - leadership that involves others but leader makes final decision
(consultative or persuasive
\design mix - ANS - range of features that are important when designing a product (aesthetics,
functionality and cost)
\differentiation - ANS - setting the product apart from its rivals - through USP or a established
brand
\direct action - ANS - the use of demonstrations, protests and strikes to achieve a political or
social group
above-the-line promotion - ANS - promotion that involves the use of media (newspapers, TV,
cinema, radio, internet and social media)
\added value - ANS - the extra features that may be offered when selling a product which helps
to exceed customer satisfaction
\administrative barriers - ANS - rules and regulations that make it difficult for importers to
penetrate an overseas market
\agent/broker - ANS - an intermediary that brings together buyer and seller (travel and estate)
\aim - ANS - what a business tries to achieve in the long term
\articles of association - ANS - a document that provides information on the internal running of
the business
\ASEAN - ANS - association of southern east Asia nations - 10 countries including Singapore
and Vietnam
\assessment of a country as a production location - ANS - ease of doing business,
infrastructure, political stability, skills and availability of a labour force, natural resources, likely
return on investment and location in trading bloc
\assessment of a country as a market - ANS - ease of doing business, infrastructure, disposable
income, political stability and exchange rate
\autocratic leadership - ANS - leader makes all decision (army - needs to follow orders)
\B2B - ANS - business to business (wholesaling) - COSCO wholesale
\B2C - ANS - business to consumer (retailer) - TESCO
\barriers to entry - ANS - factors that make it difficult for new entrants from entering the market
\below-the-line promotion - ANS - promotion that doesn't involve the use of the media
\bonus - ANS - a payment in addition to wage
\Boston matrix - ANS - 2x2 model that analyses a product portfolio of a business according to its
market growth and market share (cash cow, star, question mark and dog)
\brand name - ANS - a name, sign, symbol or other feature that allows consumers to identify the
goods of a business and differentiate it from rivals
\brands - ANS - manufactorer brands (Heinz Beans), own-label (Tesco value beans) and
generic (carrots)
\breaking-bulk - ANS - buying products in large quantities and selling them in smaller chunks
\BRIC - ANS - Brazil, Russia ,India and China
\centralisation - ANS - decision-making takes place in the core of the workplace (top-down)
\certificate of incorporation - ANS - a document that declares that a business is allowed to
operate as a limited company
\chain of command - ANS - the way authority and power is organised in the workplace
\choices - ANS - when a business has to choose between alternatives or resources
\choosing promotion - ANS - cost, market type, product type, stage in product lifecycle, legal
factors and competitors promotion
\code of conduct - ANS - a set of rules outlining the practices of an organisation
, \collective bargaining - ANS - a method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
\commission - ANS - percentage payment on a sale made
\common market/ single market - ANS - market where goods and services can more freely
among member countries.
\comparative advantage - ANS - country should produce products and services that it can
produce more effectively than other countries
\competition policy - ANS - government policy that exists to promote competition and prevent
high marketing power of businesses
\competitive advantage - ANS - an advantage that helps a business to perform better than its
rivals
\competitive advantage (4) - ANS - idea that a business should specialise in any area that it can
perform better than other rivals
\competitive pricing - ANS - setting a price accordingly to rivals
\complementary goods - ANS - goods that are purchased together because they are consumed
together (milk and cereal)
\consumer panel - ANS - group of consumers are asked for feedback of a product after a period
of time
\cost-plus pricing - ANS - adding a mark-up to the cost of making the product to get the price
\cultural audit - ANS - study or examination of a country's culture to determine whether they
support or hinder the business's mission statement and vision
\cultural/social factors - ANS - unintended meanings, language, inappropriate/inaccurate
translations, differing tastes and inappropriate/inaccurate promotion
\customs union - ANS - a market where trade barriers are reduced and all member countries
adapt the same rules/barriers against non-member counties
\CV (curriculum vitale) - ANS - a document that lists personal details, qualifications, education,
experience and other specific details required by jobseeker
\database - ANS - a system that stores data electronically - has features such as find and
sorting.
\de-centralisation - ANS - decision-making is pushed down the chain of command away from
the core (subordinates - bottom-up)
\deed of partnership - ANS - a binding legal document that declares the right of partners
\delayering - ANS - removing layers of the workplace (usually involves senior management)
\delegation - ANS - passing authority further down the hierarchy
\demand - ANS - amount of a product consumers are willing and able to buy at any given price
\democratic leadership - ANS - leadership that involves others but leader makes final decision
(consultative or persuasive
\design mix - ANS - range of features that are important when designing a product (aesthetics,
functionality and cost)
\differentiation - ANS - setting the product apart from its rivals - through USP or a established
brand
\direct action - ANS - the use of demonstrations, protests and strikes to achieve a political or
social group
