Business studies

4. the stock of raw materials, work in progress and finished goods held by a business
6. a marketing where a company develops a product for a small segment of a market
8. growing importance of tertiary sector and reduced importance of secondary sector
11. a business system where entrepreneurs buy the right to use the name, logo and products of an existing business
13. passing responsibility to perform tasks to employees lower down the organisation
14. reducing the size of hierarchy by removing one or more levels, often the middle management
15. an economy where the resources are owned and controlled by both the private and public sector
16. someone who is affected by the decisions of a business directly or indirectly
17. breaking down a production process to small tasks done by specialised individuals
18. developed a two factor theory of motivation

1. termination of employment by the employer because the job is no longer needed
2. pricing method where the price is set similar to other businesses selling similar products as the business
3. integration where two firms in the same industry and in the same level of production come together
5. strategies used during marketing to extend the maturity stage of a product
7. a document that explains how partners will work and share responsibility in a partnership
8. termination by the employer because the employee has broken company rules
9. a research that involves collecting information about consumer's opinion or behaviour
10. non cash benefits used to motivate workers
12. the difference between selling price and the cost of a product
16. a list of candidates who are chosen from all the applicants to be interviewed