AQA A Level Business - Definitions

AQA A Level Business - Definitions Adverse varience - ANS When actual costs are higher than budget costs Autocratic - ANS When the manager makes all the decisions Bank overdraft - ANS The amount that can be overspent on a bank account (be overdrawn) Blake mouton grid - ANS The concern for people and production a manager has Boston matrix - ANS Product portfolio analysis of a business into 4 categories Branding - ANS how consumers recognise and identify with a product Break-Even - ANS The point when total sales is equal to total costs Budget - ANS Income and costs predicted over a period of time Buffer inventory - ANS Minimum amount of stock a business requires to operate Capacity utilisation - ANS The amount of total capacity is being used Cash flow - ANS Cash moving into and out of a business Cash flow forecast - ANS The projection of likely cash inflows and outflows Competition - ANS Other businesses that compete for a share in the same market Competitiveness - ANS The business' ability to offer a better product than its competitors (measured in customers) Correlation - ANS Relationship between two variables Total Contribution - ANS The difference between the total sales and total variable costs Delegation - ANS Where a responsibility or task is passed onto another employee in the business Demand - ANS Amount of a good or service that customers desire