2024 pearson edexcel gce a level business paper 1 (9bs0/01)
Above-the-line promotion - anspromotion that involves the use of media (newspapers,
TV, cinema, radio, internet and social media)
added value - ansthe extra features that may be offered when selling a product which
helps to exceed customer satisfaction
administrative barriers - ansrules and regulations that make it difficult for importers to
penetrate an overseas market
agent/broker - ansan intermediary that brings together buyer and seller (travel and
estate)
aim - answhat a business tries to achieve in the long term
articles of association - ansa document that provides information on the internal running
of the business
ASEAN - ansassociation of southern east Asia nations - 10 countries including
Singapore and Vietnam
assesment of a country as a production location - ansease 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 - ansease of doing business, infrastructure,
disposable income, political stability and exchange rate
autocratic leadership - ansleader makes all decision (army - needs to follow orders)
B2B - ansbusiness to business (wholesaling) - COSCO wholesale
B2C - ansbusiness to consumer (retailer) - TESCO
barriers to entry - ansfactors that make it difficult for new entrants from entering the
market
below-the-line promotion - anspromotion that doesn't involve the use of the media
bonus - ansa payment in addition to wage
Boston matrix - ans2x2 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 - ansa name, sign, symbol or other feature that allows consumers to
identify the goods of a business and differentiate it from rivals
brands - ansmanufactorer brands (Heinz Beans), own -label (Tesco value beans) and
generic (carrots)
breaking-bulk - ansbuying products in large quantities and selling them in smaller
chunks
BRIC - ansBrazil, Russia ,India and China
centralisation - ansdecision-making takes place in the core of the workplace (top-down)
certificate of incorporation - ansa document that declares that a business is allowed to
operate as a limited company
chain of command - ansthe way authority and power is organised in the workplace
choices - answhen a business has to choose between alternatives or resources
choosing promotion - anscost, market type, product type, stage in produ ct lifecycle,
legal factors and competitors promotion
code of conduct - ansa set of rules outlining the practices of an organisation
collective bargaining - ansa method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
commission - anspercentage payment on a sale made
common market/ single market - ansmarket where goods and services can more freely
among member countries.
comparative advantage - anscountry should produce products and services that it can
produce more effectively than other countries
competition policy - ansgovernment policy that exists to promote competition and
prevent high marketing power of businesses
competitive advantage - ansan advantage that helps a business to perform better than
its rivals
competitive advantage (4) - ansidea that a business should specialise in any area that it
can perform better than other rivals
competitive pricing - anssetting a price accordingly to rivals
,complementary goods - ansgoods that are purchased together because they are
consumed together (milk and cereal)
consumer panel - ansgroup of consumers are asked for feedback of a product after a
period of time
cost-plus pricing - ansadding a mark-up to the cost of making the produ ct to get the
price
cultural audit - ansstudy or examination of a country's culture to determine whether they
support or hinder the business's mission statement and vision
cultural/social factors - ansunintended meanings, language, inappropriate/inaccurate
translations, differing tastes and inappropriate/inaccurate promotion
customs union - ansa market where trade barriers are reduced and all member
countries adapt the same rules/barriers against non-member counties
CV (curriculum vitale) - ansa document that lists personal details, qualifications,
education, experience and other specific details required by jobseeker
database - ansa system that stores data electronically - has features such as find and
sorting.
de-centralisation - ansdecision-making is pushed down the chain of command away
from the core (subordinates - bottom-up)
deed of partnership - ansa binding legal document that declares the right of partners
delayering - ansremoving layers of the workplace (usually involves senior management)
delegation - anspassing authority further down the hierarchy
demand - ansamount of a product consumers are willing and able to buy at any given
price
democratic leadership - ansleadership that involves others but leader makes final
decision (consultative or persuasive
design mix - ansrange of features that are important when designing a product
(aesthetics, functionality and cost)
differentiation - anssetting the product apart from its rivals - through USP or a
established brand
, direct action - ansthe use of demonstrations, protests and strikes to achieve a political
or social group
direct mailing - anssending out letters and leaflets by post informing customers about
specific products
direct selling - ansmanufacturer sells its products directly to seller (without the use of
intermediaries)
disposable income - ansamount of money a person has left over after paying taxation
and other necessities
distribution channel - ansthe route a product takes to get from the manufacturer to the
consumer
division of labour - ansdifferent workers specialising in a different area of production
dumping - answhere an overseas business sells products below cost in domestic firm
e-commerce - ansconducting business transactions online
economic and monetary union - anstrade barriers are removed - goods can move freely
and common currency
economic growth - ansan increase in a country's productive capacity
economic risk - ansfuture cash flows will change due to unexpected fluctuation in
exchange rate
economic union - anscustom union and common market
economies of scale - ansincreasing the scale of production leads to efficiency and lower
costs
embargo - ansa complete ban on international trade
emerging economy - ansa market that has high potential growth but involves a lot of risk
emotional branding - ansbuilding a brand through consumers emotions
empowerment - ansgiving authority and right to decision making
entrepreneur - ansindividuals who set up a business themselves and are involved in the
risk in this
Above-the-line promotion - anspromotion that involves the use of media (newspapers,
TV, cinema, radio, internet and social media)
added value - ansthe extra features that may be offered when selling a product which
helps to exceed customer satisfaction
administrative barriers - ansrules and regulations that make it difficult for importers to
penetrate an overseas market
agent/broker - ansan intermediary that brings together buyer and seller (travel and
estate)
aim - answhat a business tries to achieve in the long term
articles of association - ansa document that provides information on the internal running
of the business
ASEAN - ansassociation of southern east Asia nations - 10 countries including
Singapore and Vietnam
assesment of a country as a production location - ansease 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 - ansease of doing business, infrastructure,
disposable income, political stability and exchange rate
autocratic leadership - ansleader makes all decision (army - needs to follow orders)
B2B - ansbusiness to business (wholesaling) - COSCO wholesale
B2C - ansbusiness to consumer (retailer) - TESCO
barriers to entry - ansfactors that make it difficult for new entrants from entering the
market
below-the-line promotion - anspromotion that doesn't involve the use of the media
bonus - ansa payment in addition to wage
Boston matrix - ans2x2 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 - ansa name, sign, symbol or other feature that allows consumers to
identify the goods of a business and differentiate it from rivals
brands - ansmanufactorer brands (Heinz Beans), own -label (Tesco value beans) and
generic (carrots)
breaking-bulk - ansbuying products in large quantities and selling them in smaller
chunks
BRIC - ansBrazil, Russia ,India and China
centralisation - ansdecision-making takes place in the core of the workplace (top-down)
certificate of incorporation - ansa document that declares that a business is allowed to
operate as a limited company
chain of command - ansthe way authority and power is organised in the workplace
choices - answhen a business has to choose between alternatives or resources
choosing promotion - anscost, market type, product type, stage in produ ct lifecycle,
legal factors and competitors promotion
code of conduct - ansa set of rules outlining the practices of an organisation
collective bargaining - ansa method used to determine conditions of work and terms of
employment through a worker's representative (trade union) and employer
commission - anspercentage payment on a sale made
common market/ single market - ansmarket where goods and services can more freely
among member countries.
comparative advantage - anscountry should produce products and services that it can
produce more effectively than other countries
competition policy - ansgovernment policy that exists to promote competition and
prevent high marketing power of businesses
competitive advantage - ansan advantage that helps a business to perform better than
its rivals
competitive advantage (4) - ansidea that a business should specialise in any area that it
can perform better than other rivals
competitive pricing - anssetting a price accordingly to rivals
,complementary goods - ansgoods that are purchased together because they are
consumed together (milk and cereal)
consumer panel - ansgroup of consumers are asked for feedback of a product after a
period of time
cost-plus pricing - ansadding a mark-up to the cost of making the produ ct to get the
price
cultural audit - ansstudy or examination of a country's culture to determine whether they
support or hinder the business's mission statement and vision
cultural/social factors - ansunintended meanings, language, inappropriate/inaccurate
translations, differing tastes and inappropriate/inaccurate promotion
customs union - ansa market where trade barriers are reduced and all member
countries adapt the same rules/barriers against non-member counties
CV (curriculum vitale) - ansa document that lists personal details, qualifications,
education, experience and other specific details required by jobseeker
database - ansa system that stores data electronically - has features such as find and
sorting.
de-centralisation - ansdecision-making is pushed down the chain of command away
from the core (subordinates - bottom-up)
deed of partnership - ansa binding legal document that declares the right of partners
delayering - ansremoving layers of the workplace (usually involves senior management)
delegation - anspassing authority further down the hierarchy
demand - ansamount of a product consumers are willing and able to buy at any given
price
democratic leadership - ansleadership that involves others but leader makes final
decision (consultative or persuasive
design mix - ansrange of features that are important when designing a product
(aesthetics, functionality and cost)
differentiation - anssetting the product apart from its rivals - through USP or a
established brand
, direct action - ansthe use of demonstrations, protests and strikes to achieve a political
or social group
direct mailing - anssending out letters and leaflets by post informing customers about
specific products
direct selling - ansmanufacturer sells its products directly to seller (without the use of
intermediaries)
disposable income - ansamount of money a person has left over after paying taxation
and other necessities
distribution channel - ansthe route a product takes to get from the manufacturer to the
consumer
division of labour - ansdifferent workers specialising in a different area of production
dumping - answhere an overseas business sells products below cost in domestic firm
e-commerce - ansconducting business transactions online
economic and monetary union - anstrade barriers are removed - goods can move freely
and common currency
economic growth - ansan increase in a country's productive capacity
economic risk - ansfuture cash flows will change due to unexpected fluctuation in
exchange rate
economic union - anscustom union and common market
economies of scale - ansincreasing the scale of production leads to efficiency and lower
costs
embargo - ansa complete ban on international trade
emerging economy - ansa market that has high potential growth but involves a lot of risk
emotional branding - ansbuilding a brand through consumers emotions
empowerment - ansgiving authority and right to decision making
entrepreneur - ansindividuals who set up a business themselves and are involved in the
risk in this
