Business Studies Key terms (AO1) Recall Exercise Mix Chapter

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Across
  1. 3. when a vacancy is filled by someone who is an existing employee of the business
  2. 6. is a business based upon the use of the brand names, promotional logos and trading methods of an existing successful business
  3. 7. when an employee is no longer needed and so loses their job, it is not due to any aspect of their work being unsatisfactory
  4. 12. is any person or group with a direct interest in the performance and activities of a business
  5. 13. the structure in an organisation which allows instructions to be passed down from senior management to lower levels of management
  6. 15. is a person who organises, operates and takes the risk for a new business venture
  7. 17. is the cost of manufacturing the product plus a profit mark-up
  8. 19. occurs by watching a more experienced worker doing the job
  9. 20. involves workers swapping around and doing each specific tasks for only a limited time and then changing around again
  10. 21. outlines the responsibilities and duties to be carried out by someone employed to do a specific job
  11. 22. is a term for those techniques used by businesses to cut downon wasteand therefore increase efficiency
  12. 24. when existing customers continually buy products from the same business
  13. 25. industry manufactures goods using the raw materials provided by the primary sector
Down
  1. 1. the aims of targets that a business works towards
  2. 2. the collection and collation of original data via direct contact with potential or existing customers
  3. 4. a small, usually specialised, segment of a much larger market
  4. 5. when the price is set lower than the competitors prices in order to be able to enter a new market
  5. 8. a group of employees who have joined together to ensure their interests are protected
  6. 9. the liability of shareholders in a company is limited to only the amount they invested
  7. 10. the output measured against the inputs used to create it
  8. 11. is the means by which a product is passed from the place of production to the customer
  9. 14. when the owners of two businesses agree to join their business together to make one business
  10. 16. is the next best alternative given up by choosing another item
  11. 18. a term which is used to describe all the activities which go into marketing a product or service
  12. 23. require the target sample to answer a series of questions over the internet