IEB Business Studies Gr 12
Study online at https://quizlet.com/_ajjk2d
1. Intrapreneur: someone who works inside an existing organization who sees an
opportunity for a product or service and mobilizes the organization's resources to
try to realize it
2. entrepreneur: A person who starts up and takes on the risk of a business
3. diversification: a strategy of increasing sales by introducing new products into
new markets
4. autocratic: absolute in power or authority
5. Synergy: The interaction of 2 or more parties so that their combined effect is
greater than the sum of their individual effects
6. democratic: Ensuring that all people have the same rights
7. Functional Conflict: Non-aggresive
Stimulates creativity
8. Laissez-faire: a policy or attitude of letting things take their own course, without
interfering.
9. Dysfunctional conflict: Aggressive disagreement
No compromise
10. Transactional Leadership: leadership that motivates subordinates by reward-
ing them for high performance and reprimanding them for low performance
11. CCMA: independent organisation that acts as a dispute resolution body
12. 7P's of marketing: product, price, place, promotion, people, physical evidence,
process
13. Negotiation: discussion aimed at reaching a compromise
14. Consumer Protection Act: laws and organizations designed to ensure the
rights of consumers as well as fair trade competition and the free flow of truthful
information in the marketplace.
15. Conciliation: Facilitate conversation
16. brand extension: the use of the same brand name for new products being
introduced to the same or new markets
17. Mediation: A method of settling disputes outside of court by using the services
of a neutral third party, called a mediator. The mediator acts as a communicating
agent between the parties and suggests ways in which the parties can resolve their
dispute.
18. brand stretching: using an established brand in an unrelated market
19. Arbitration: the use of an arbitrator to settle a dispute.
20. Franchisee Benefits: -Prove Concept - help @ low cost
-Known Brand
-Training, help with site election
-Only operate, not create
1/5
, IEB Business Studies Gr 12
Study online at https://quizlet.com/_ajjk2d
-Shared Risk
-More successful than independents
21. Consequence based theory: The outcome of the action will determine if the
action is ethical or not
22. Franchisee disadvantages: -Must meet contractual requirements, or possibly
lose franchise
-Little/no creative control over business
23. principle based theory: Rules/Principles/Values determine right from wrong
24. Franchisor Benefits: -Rapid Growth
-Shared Risk
-OPM
-Entrepreneurs work for YOU
-Fees and royalties
-Income Streams
25. Utilitarian based theory: what is right for the greatest number of people
26. Franchisor Disadvantages: -Little control over individual franchise
-Can become liable for franchise, if franchisor exerts too much control
27. insider trading: illegal practice of using special knowledge about a firm for profit
or gain
28. human resources: maintains policies, plans, and procedures for the effective
management of employees
29. Counterfeiting / Bootlegging: imitating and trying to pass a product as the
original
30. manpower planning: involves having right people in right place at right time
involves human resources audit and estimating future needs
31. tax evasion: willful failure to pay taxes
32. work load analysis: A method of short-term forecasting in which the number of
employees is identified by computing how many employee hours will be needed to
produce the output that the organization expects to achieve.
33. tax avoidance: the use of legitimate methods to reduce one's taxes
34. selection procedure: Gathering information about applicant, making a job offer,
orienting the new employee
35. private sector: the part of the economy that involves the transactions of individ-
uals and businesses
36. labour relations act: Grants workers the right to join a trade union
37. public sector: the part of the economy that involves the transactions of the
government
38. remuneration: payment for work done
39. code of ethics: a set of guidelines for maintaining ethics in the workplace
2/5
Study online at https://quizlet.com/_ajjk2d
1. Intrapreneur: someone who works inside an existing organization who sees an
opportunity for a product or service and mobilizes the organization's resources to
try to realize it
2. entrepreneur: A person who starts up and takes on the risk of a business
3. diversification: a strategy of increasing sales by introducing new products into
new markets
4. autocratic: absolute in power or authority
5. Synergy: The interaction of 2 or more parties so that their combined effect is
greater than the sum of their individual effects
6. democratic: Ensuring that all people have the same rights
7. Functional Conflict: Non-aggresive
Stimulates creativity
8. Laissez-faire: a policy or attitude of letting things take their own course, without
interfering.
9. Dysfunctional conflict: Aggressive disagreement
No compromise
10. Transactional Leadership: leadership that motivates subordinates by reward-
ing them for high performance and reprimanding them for low performance
11. CCMA: independent organisation that acts as a dispute resolution body
12. 7P's of marketing: product, price, place, promotion, people, physical evidence,
process
13. Negotiation: discussion aimed at reaching a compromise
14. Consumer Protection Act: laws and organizations designed to ensure the
rights of consumers as well as fair trade competition and the free flow of truthful
information in the marketplace.
15. Conciliation: Facilitate conversation
16. brand extension: the use of the same brand name for new products being
introduced to the same or new markets
17. Mediation: A method of settling disputes outside of court by using the services
of a neutral third party, called a mediator. The mediator acts as a communicating
agent between the parties and suggests ways in which the parties can resolve their
dispute.
18. brand stretching: using an established brand in an unrelated market
19. Arbitration: the use of an arbitrator to settle a dispute.
20. Franchisee Benefits: -Prove Concept - help @ low cost
-Known Brand
-Training, help with site election
-Only operate, not create
1/5
, IEB Business Studies Gr 12
Study online at https://quizlet.com/_ajjk2d
-Shared Risk
-More successful than independents
21. Consequence based theory: The outcome of the action will determine if the
action is ethical or not
22. Franchisee disadvantages: -Must meet contractual requirements, or possibly
lose franchise
-Little/no creative control over business
23. principle based theory: Rules/Principles/Values determine right from wrong
24. Franchisor Benefits: -Rapid Growth
-Shared Risk
-OPM
-Entrepreneurs work for YOU
-Fees and royalties
-Income Streams
25. Utilitarian based theory: what is right for the greatest number of people
26. Franchisor Disadvantages: -Little control over individual franchise
-Can become liable for franchise, if franchisor exerts too much control
27. insider trading: illegal practice of using special knowledge about a firm for profit
or gain
28. human resources: maintains policies, plans, and procedures for the effective
management of employees
29. Counterfeiting / Bootlegging: imitating and trying to pass a product as the
original
30. manpower planning: involves having right people in right place at right time
involves human resources audit and estimating future needs
31. tax evasion: willful failure to pay taxes
32. work load analysis: A method of short-term forecasting in which the number of
employees is identified by computing how many employee hours will be needed to
produce the output that the organization expects to achieve.
33. tax avoidance: the use of legitimate methods to reduce one's taxes
34. selection procedure: Gathering information about applicant, making a job offer,
orienting the new employee
35. private sector: the part of the economy that involves the transactions of individ-
uals and businesses
36. labour relations act: Grants workers the right to join a trade union
37. public sector: the part of the economy that involves the transactions of the
government
38. remuneration: payment for work done
39. code of ethics: a set of guidelines for maintaining ethics in the workplace
2/5
