Business Summary Overview
Application Forms - ANSWER Require candidates to provide work history.
Batch Production - ANSWER Making groups of similar products at a time.
Branding - ANSWER Attaching a name and logo to a product for recognition.
Break-even - ANSWER Point where total costs equal total revenue.
Business Objectives - ANSWER Goals like profit maximization and customer satisfaction.
Cash Budgeting - ANSWER Document to monitor expected cash flow in a business.
Cash Flow Problems - ANSWER Issues like overspending on stock or delayed payments.
Competition - ANSWER Rival businesses affecting pricing and market share.
Consumer Panels - ANSWER Used to evaluate customer satisfaction through group
feedback.
Customer Satisfaction - ANSWER Ensuring customers are happy with products and services.
CVs - ANSWER Curriculum Vitae details education and work experience.
Data Protection Act - ANSWER Regulates fair and lawful data usage.
Desk Research - ANSWER Using existing information from published sources like
newspapers.
Donations - ANSWER Funding source for Voluntary Sector organizations.
Economic Factors - ANSWER Inflation, interest rates, and recession impact on businesses.
Electronic Point of Sale (EPOS) - ANSWER Technology to manage stock levels and update
records.
Environmental Factors - ANSWER Weather changes and eco-friendly practices affecting
businesses.
Equality Act - ANSWER Ensures fair treatment regardless of age or gender.
Ethical Marketing - ANSWER Practicing responsible advertising and product targeting.
Extension Strategies - ANSWER Methods to prolong a product's life cycle and maintain
sales.
External Factors - ANSWER Influences outside the business like political changes.
External Recruitment - ANSWER Filling job openings from outside the organization.
Field Methods of Market Research - ANSWER Online surveys, taste tests, consumer panels,
and focus groups.
Field Research - ANSWER Collecting new data firsthand through surveys or interviews.
Financial Motivation - ANSWER Incentives like bonuses or piece rates to motivate staff.
Application Forms - ANSWER Require candidates to provide work history.
Batch Production - ANSWER Making groups of similar products at a time.
Branding - ANSWER Attaching a name and logo to a product for recognition.
Break-even - ANSWER Point where total costs equal total revenue.
Business Objectives - ANSWER Goals like profit maximization and customer satisfaction.
Cash Budgeting - ANSWER Document to monitor expected cash flow in a business.
Cash Flow Problems - ANSWER Issues like overspending on stock or delayed payments.
Competition - ANSWER Rival businesses affecting pricing and market share.
Consumer Panels - ANSWER Used to evaluate customer satisfaction through group
feedback.
Customer Satisfaction - ANSWER Ensuring customers are happy with products and services.
CVs - ANSWER Curriculum Vitae details education and work experience.
Data Protection Act - ANSWER Regulates fair and lawful data usage.
Desk Research - ANSWER Using existing information from published sources like
newspapers.
Donations - ANSWER Funding source for Voluntary Sector organizations.
Economic Factors - ANSWER Inflation, interest rates, and recession impact on businesses.
Electronic Point of Sale (EPOS) - ANSWER Technology to manage stock levels and update
records.
Environmental Factors - ANSWER Weather changes and eco-friendly practices affecting
businesses.
Equality Act - ANSWER Ensures fair treatment regardless of age or gender.
Ethical Marketing - ANSWER Practicing responsible advertising and product targeting.
Extension Strategies - ANSWER Methods to prolong a product's life cycle and maintain
sales.
External Factors - ANSWER Influences outside the business like political changes.
External Recruitment - ANSWER Filling job openings from outside the organization.
Field Methods of Market Research - ANSWER Online surveys, taste tests, consumer panels,
and focus groups.
Field Research - ANSWER Collecting new data firsthand through surveys or interviews.
Financial Motivation - ANSWER Incentives like bonuses or piece rates to motivate staff.
