Business Studies

4. research-Gather data that already exists (eg. statistics, journals, financial reports, competitor information, newspapers, magazines)
5. bills- It is a written order for a loan amount that is guaranteed by the business's bank.
6. leadership- Having lower prices than rivals in order to achieve business objectives
8. discrimination-Same products sold for a different price in a different market
9. break down of trade barriers between nation
10. aimed to connect the business with customers in order to sell a product
12. The process of managing the needs of staff for health and safety, industrial relations and legal responsibilities, including compensation and benefits of all staff
15. Occurs when a policy or a practice disadvantages a person or a group of people because of a personal characteristic that is irrelevant to the performance of the work.
17. a minus in your bank account
18. a promise made by a business to say that they will take back any faulty or broken products
19. layout- Diagram focusing on what task happens and where
20. A common form of hedging is to use a derivative. It is a contract under which the buyer agrees to purchase something from one seller at a set price at a future point in time. It can be used to hedge (reduce) the financial risks, such as those created by the appreciation and depreciation of currencies.

1. An external provider of services to a business. It may be an individual or a business.
2. expectations- The price of the product (should) gives evidence to its quality
3. forecast-Estimation of the firm's future financial situation, based on the information in the marketing plan
7. under the guise of (disguise of) a survey
11. outlook- Refers to the expected levels of economic growth of individual nations throughout the
13. ability of a business to pay off its short term debts as they fall due using its assets
14. Additional costs involved in hiring an employee, above the cost of their wages.
16. Unions- Organisations formed by employees in an industry, trade or occupation to represent them in efforts to improve wages and the working condition of their members