Edexcel AS/A Level Business - Theme 1
Above-the-line promotion - ANS - Placing adverts using the media
\Added value - ANS - The extra features that may be offered by a business when selling a
product, such as high-quality customer service, which helps to exceed customer expectation
\Advertising - ANS - Communication between a business and its customers where images are
placed in the media to encourage the purchase of products
\Agent or broker - ANS - An intermediary that brings together buyers and sellers
\Aims - ANS - What a business tries to achieve in the long term
\Articles of Association - ANS - A document that provides the details of the internal running of a
limited company
\Authority - ANS - The right to command and make decisions
\Autocratic leadership - ANS - A leadership style where a manager makes all the decisions
without consultation
\Below-the-line promotion - ANS - Any promotion that does not involve the media
\Bonus - ANS - A payment in addition to the basic wage for reaching targets or in recognition for
service
\Boston Matrix - ANS - A 2x2 matrix model that analyses a product portfolio according to growth
rate of the market and the relative market share of products within the market
\Brand Name - ANS - A name, term, sign, symbol, design or any other feature that allows
consumers to identify the goods and services of a business and to differentiate them from those
of competitors
\Breaking-bulk - ANS - Dividing a large quantity of goods received from a supplier before selling
them on in smaller quantities to customers
\Centralisation - ANS - A type of business organisation where major decisions are made at the
centre or core of the organisation and then passed down the chain of command
\Certificate of Incorporation - ANS - A document that declares a business is allowed to trade as
a limited company
\Chain of command - ANS - The way authority and power is organised in an organisation
\Choices - ANS - In business, deciding between alternative uses of resources
\Co-operative - ANS - A business organisation owned by its members, who all have equal voting
rights
\Collective bargaining - ANS - A method of determining conditions of work and terms of
employment through negotiation between employers and employee representatives
\Commission - ANS - Percentage payment on a sale made to the salesperson
\Competitive advantage - ANS - An advantage that enables a business to perform better than its
rivals in the market
\Competitive pricing - ANS - Pricing strategies based on the prices charged by rivals
\Complementary goods - ANS - Goods that are purchased together because they are consumed
together
\Consulation - ANS - Listening to the views of employees before making key decisions which
affect them
, \Consumer durables - ANS - Goods that can be used repeatedly over a period of time, such as
cars and household appliances
\Consumer panels - ANS - Groups of customers are asked for feedback about products over a
period of time
\Cost plus pricing - ANS - Adding a percentage (the mark up) to the costs of producing a
product to get the price
\Curriculum vitae - ANS - A document that lists personal details, qualifications, work experience,
referees and other information about the jobseeker
\Database - ANS - An organised collection of data stored electronically with instant access,
searching and sorting facilities
\Decentralisation - ANS - A type of business organisation where decision making is pushed
down the chain of command and away from the centre of the organisation
\Deed of Partnership - ANS - A binding legal document that states the formal rights of partners
\Delayering - ANS - Removing layers of management from the hierarchy of an organisation
\Delegation - ANS - Authority to pass down from superior to subordinate
\Delegation - ANS - The passing of authority further down the managerial hierarchy
\Demand - ANS - The quantity of a product bought a given price over a given period of time
\Demand curve - ANS - A line drawn on a graph that shows how much of a good will be bought
at different prices
\Democratic leadership - ANS - A leadership style where managers allow others to participate in
decision making
\Design mix - ANS - The range of features that are important when designing a product
\Direct selling - ANS - Producers selling their products directly to consumers
\Discretionary expenditure - ANS - Non-essential spending or spending that is not automatic
\Distribution - ANS - The delivery of goods from the producer to the consumer
\Distribution channel - ANS - The route taken by a product from the producer to the customer
\E-commerce - ANS - Conducting business transactions online
\E-commerce - ANS - The use of electronic systems to sell goods and services
\Emotional branding - ANS - The practice of using the emotions of a consumer to build a brand
\Empowerment - ANS - Giving official authority to employees to make decisions and control their
own work activities
\Entrepreneurs - ANS - Individuals who, typically, set up and run a business and take the risks
associated with this
\Equilibrium price or market clearing price - ANS - The price where supply and demand are
equal
\Ergonomics - ANS - The study of how people interact with their environment and the equipment
they use - often in the workplace
\Ethical sourcing - ANS - Using materials, components and services from suppliers that respect
the environment, treat their workforce well and generally trade with integrity
\Excess demand - ANS - The position where demand is greater than supply at a given price and
there are shortages in the market
\Excess supply - ANS - The position where supply is greater than demand at a given price and
there are unsold goods in the market
\Extension strategies - ANS - Methods used to prolong the life of a product
Above-the-line promotion - ANS - Placing adverts using the media
\Added value - ANS - The extra features that may be offered by a business when selling a
product, such as high-quality customer service, which helps to exceed customer expectation
\Advertising - ANS - Communication between a business and its customers where images are
placed in the media to encourage the purchase of products
\Agent or broker - ANS - An intermediary that brings together buyers and sellers
\Aims - ANS - What a business tries to achieve in the long term
\Articles of Association - ANS - A document that provides the details of the internal running of a
limited company
\Authority - ANS - The right to command and make decisions
\Autocratic leadership - ANS - A leadership style where a manager makes all the decisions
without consultation
\Below-the-line promotion - ANS - Any promotion that does not involve the media
\Bonus - ANS - A payment in addition to the basic wage for reaching targets or in recognition for
service
\Boston Matrix - ANS - A 2x2 matrix model that analyses a product portfolio according to growth
rate of the market and the relative market share of products within the market
\Brand Name - ANS - A name, term, sign, symbol, design or any other feature that allows
consumers to identify the goods and services of a business and to differentiate them from those
of competitors
\Breaking-bulk - ANS - Dividing a large quantity of goods received from a supplier before selling
them on in smaller quantities to customers
\Centralisation - ANS - A type of business organisation where major decisions are made at the
centre or core of the organisation and then passed down the chain of command
\Certificate of Incorporation - ANS - A document that declares a business is allowed to trade as
a limited company
\Chain of command - ANS - The way authority and power is organised in an organisation
\Choices - ANS - In business, deciding between alternative uses of resources
\Co-operative - ANS - A business organisation owned by its members, who all have equal voting
rights
\Collective bargaining - ANS - A method of determining conditions of work and terms of
employment through negotiation between employers and employee representatives
\Commission - ANS - Percentage payment on a sale made to the salesperson
\Competitive advantage - ANS - An advantage that enables a business to perform better than its
rivals in the market
\Competitive pricing - ANS - Pricing strategies based on the prices charged by rivals
\Complementary goods - ANS - Goods that are purchased together because they are consumed
together
\Consulation - ANS - Listening to the views of employees before making key decisions which
affect them
, \Consumer durables - ANS - Goods that can be used repeatedly over a period of time, such as
cars and household appliances
\Consumer panels - ANS - Groups of customers are asked for feedback about products over a
period of time
\Cost plus pricing - ANS - Adding a percentage (the mark up) to the costs of producing a
product to get the price
\Curriculum vitae - ANS - A document that lists personal details, qualifications, work experience,
referees and other information about the jobseeker
\Database - ANS - An organised collection of data stored electronically with instant access,
searching and sorting facilities
\Decentralisation - ANS - A type of business organisation where decision making is pushed
down the chain of command and away from the centre of the organisation
\Deed of Partnership - ANS - A binding legal document that states the formal rights of partners
\Delayering - ANS - Removing layers of management from the hierarchy of an organisation
\Delegation - ANS - Authority to pass down from superior to subordinate
\Delegation - ANS - The passing of authority further down the managerial hierarchy
\Demand - ANS - The quantity of a product bought a given price over a given period of time
\Demand curve - ANS - A line drawn on a graph that shows how much of a good will be bought
at different prices
\Democratic leadership - ANS - A leadership style where managers allow others to participate in
decision making
\Design mix - ANS - The range of features that are important when designing a product
\Direct selling - ANS - Producers selling their products directly to consumers
\Discretionary expenditure - ANS - Non-essential spending or spending that is not automatic
\Distribution - ANS - The delivery of goods from the producer to the consumer
\Distribution channel - ANS - The route taken by a product from the producer to the customer
\E-commerce - ANS - Conducting business transactions online
\E-commerce - ANS - The use of electronic systems to sell goods and services
\Emotional branding - ANS - The practice of using the emotions of a consumer to build a brand
\Empowerment - ANS - Giving official authority to employees to make decisions and control their
own work activities
\Entrepreneurs - ANS - Individuals who, typically, set up and run a business and take the risks
associated with this
\Equilibrium price or market clearing price - ANS - The price where supply and demand are
equal
\Ergonomics - ANS - The study of how people interact with their environment and the equipment
they use - often in the workplace
\Ethical sourcing - ANS - Using materials, components and services from suppliers that respect
the environment, treat their workforce well and generally trade with integrity
\Excess demand - ANS - The position where demand is greater than supply at a given price and
there are shortages in the market
\Excess supply - ANS - The position where supply is greater than demand at a given price and
there are unsold goods in the market
\Extension strategies - ANS - Methods used to prolong the life of a product
