Across
- 1. Communicating relevant product information to inform and persuade customers to buy the good or service.
- 3. A growth strategy in the Ansoff matrix, which involves a business launching new products in new markets, such as Honda (motor vehicles) manufacturing lawnmowers and jet planes.
- 8. A business alliance of individual owners who are jointly responsible for the business
- 9. Products in the BCG Matrix that operate in low growth markets yet have low market share, so are at the end of their product life cycle.
- 10. The process of using a mediator to help facilitate negotiations during the conflict resolution process
- 13. A decision-making organization established to produce goods and/or provide services
- 16. Relationship between two sets of numbers or variables, such as sales revenue at different times of the year
- 18. Intermediaries that buy products from a manufacturer and sell these in smaller quantities to retailers.
- 20. A data collection tool used to gather primary market research about individuals or their opinions, using a series of standardised questions.
- 21. Method of stakeholder conflict resolution with all stakeholder groups in conflict agreeing to accept the decision or judgment of the independent arbitrator
- 25. Goods or services that are perceived by customers to be of high quality and high price
- 27. Management style that involves centralised and autonomous decision-making, without input from others in the organization
- 28. A detailed financial plan for the future, usually involving the expected costs and revenues or a cash flow forecast, for a pre-determined period of time.
- 29. Growth strategy that involves the right to trade using another company’s products, brand name and corporate logo.
- 31. Suppliers that allow a business to purchase goods and/or services on trade credit
- 34. The people hired to be responsible for overseeing certain functions, operations or departments within an organization
- 35. Capital expenditure with the intention of a financial return on this spending at some point in the future
- 37. Financial service that enables businesses to have access to fixed assets, by hiring these assets, but without the high costs of capital expenditure.
- 38. A promotional strategy that involves a business providing financial support to another organization or event in return for marketing exposure
- 40. Delegation of decision-making power to workers, granting them the autonomy and authority to be in charge of their own jobs and to execute their own ideas.
- 43. The overall purpose of an organization’s existence, which forms a major element of its corporate culture
- 44. The individuals, organizations or groups with a vested interest in the actions and outcomes of a specific organization. They are directly affected by the performance of the business
- 47. Commercial businesses that sell a manufacturer’s products directly to consumers
- 48. Marketing practice of creating and using an appropriate marketing mix and marketing strategies to cater for different market segments
- 49. Ways in which a business plans to reach its long-term organizational aims
Down
- 2. Banking service that enables customers (personal and business customers) to withdraw more money from their account than exists in the account.
- 4. Also known as a performance review, this is the formal procedure of assessing the performance and effectiveness of an employee, in relation to his/her job description
- 5. The employer’s decision to terminate a worker’s employment contract, usually due to the worker’s incompetence and/or a breach of their employment contract
- 6. Phase in the business cycle that occurs when there is a decline in the level of economic activity (GDP) for at least half a year.
- 7. Acronym of the profitability ratio that measures a firm’s efficiency and profitability in relation to its size (as measured by the value of the organization’s capital employed).
- 11. When an organization removes one or more layers in its hierarchical structure, i.e. the number of layers of management is reduced, or made flatter
- 12. Type of training intended for new employees in order to help them acclimatise with the people, policies and processes of the organization
- 14. The use of third-party subcontractors for carrying out non-core activities of an organization in order to improve operational efficiency and reduce production costs.
- 15. This activity happens when an organization relocates some of its operations overseas, usually due to cost advantages
- 17. When an organization no longer has a job for the employer or when the employer can no longer afford to hire the employee, i.e. the job ceases to exist
- 19. A business-minded person who manages, organizes and plans the production process, taking risks with business decision-making
- 22. Financial ratios that examine an organization’s ability to pay its liabilities and debts
- 23. Goods or services that are perceived by customers to be of high quality but sold at a low price
- 24. The debts of a business, i.e. the money owed to others, e.g. money owed to financiers, trade creditors, and the government (for tax)
- 26. When objectives are specific, measurable, agreed (or achievable), realistic (or relevant), and time bound
- 30. The proportion or subgroup of the population selected for market research purposes
- 32. The pricing strategy that sets a high price during the introductory (launch) of a new and original product, with gradual price reductions as rival products enter the market
- 33. The money (income) received by a business from the sale of goods and/or services
- 36. Form of external growth that involves two or more companies agreeing to form a single, larger company thereby benefiting from operating on a larger scale
- 39. Business activity involved with the manufacturing or construction of finished products
- 41. The ability of an organization or an economy to continue its business activities indefinitely, without jeopardising opportunities for future generations
- 42. Costs that do not change with the level of output, e.g. loan repayments and management salaries.
- 45. Leadership style that requires leaders to change and adapt their approach in response to different situations and circumstances
- 46. Production technique that involves teams of people working on a certain section of the production process, completing a whole unit of work.