Across
- 2. The individuals or organizations that purchase a product.
- 5. The people hired to be responsible for overseeing certain functions, operations, or departments within an organization.
- 6. Group of stakeholders that are not directly involved in the running of an organization but have a direct interest in its operation.
- 7. This growth strategy involves the right to trade using another company's products, brand name and corporate logo.
- 8. Organizations that provide goods or services for other businesses.
- 9. The sector where business activity is involved with the manufacturing or construction of finished products.
- 12. The level of output where the average cost of production is at its lowest value, so at this level of output, profit is maximized.
- 13. The basic necessities that an individual must have in order to survive, such as food, water, and shelter.
- 14. Growth that is excessive results in inefficiencies and higher average costs of production are known as ______ of scale.
- 16. These are for-profit social enterprises owned and run by their members.
- 21. Occurs when a company buys a controlling interest in another firm without the prior agreement or approval of that company's Board of directors.
- 24. A method of external growth that involves one company buying a majority stake in another company.
- 26. The business function that handles all aspects related to workforce, involving all aspects of a firm's operations related to staff (personnel) within an organization.
- 29. These are physical (tangible) products, such as cars, clothes, flowers, food, furniture, smartphones, and toys.
- 31. A concise motivating declaration of an organization's purpose of existence, who they are, and what they do is a _____ statement.
- 32. Owners of a business is personally liable for any business debts, even if this requires they need to sell off personal assets is known as ______ liability.
- 33. A decision-making organization established to produce goods and/or provide services.
- 34. Method of stakeholder conflict resolution with all stakeholder groups in conflict agreeing to accept the decision of an indepoendent mediator.
- 36. The sector where business activity involves the creation or sharing of knowledge and information.
- 37. A type of non-profit organization operating in the private sector of the economy for the benefit of others in society.
- 39. Sector where business activity is involved with the extraction of natural resources, e.g. fishing, mining and agriculture.
- 40. This form of external growth involves two or more companies agreeing to form a single, larger company thereby benefiting from operating on a larger scale.
- 42. The sector where business activity involves providing services to customers, i.e. consumers and business clients.
- 43. Business owned by shareholders that can be traded without prior approval of existing owners is a ______ held company.
- 45. Group of stakeholders are part of the organization, such as employees, managers...
- 49. Intangible products, such as haircuts, tourism, public transport, banking, insurance education, and healthcare.
- 50. The collective term for the resources used in the production process, i.e. land, labour, capital and entrepreneurship.
- 51. The people or organizations that have shares in a company. Their interest is financial.
Down
- 1. This means that there is a legal difference between the owners of a company and the business entity itself. Ensures that the owners are protected by limited liability.
- 3. 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.
- 4. Business owned by shareholders with limited liability, where shares cannot be traded on a public Stock Exchange, is a __________ held company.
- 6. The individuals who take risks in overseeing a business organization or business venture, usually in pursuit of profit.
- 10. The type of value from the process of producing a particular good or service that is worth more than the cost of the resources used to produce it.
- 11. The business function referring to the process of making goods and providing services from the available resources of a business to meet the needs and wants of its customers.
- 15. The process of creating goods and/or services using the factors of production available to the business.
- 17. These are moral guidelines or codes of practice which govern good organizational behaviour.
- 18. The private sector is a section of the economy is made up of businesses that are owned by __________.
- 19. These are the firm's rivals, which operate in the same industry and compete for the same customers.
- 20. Cost-saving benefits enjoyed by a business as it increases the size of its operations are known as ___ of scale.
- 22. Businesses in the public sector of the economy are run and owned by __________.
- 23. A business alliance consisting of between 2 and 20 individual owners who are jointly responsible for the business.
- 25. These are the desires of individual customers, i.e. the goods and services that they would like to have.
- 27. An inspiring declaration of what an organization ultimately strives to be, or to achieve, in the distant future is a ______ statement.
- 28. This refers to any business organization that is owned by its shareholders, who have limited liability.
- 30. These are clearly defined targets of a business in order to achieve its aims.
- 35. Occurs when an organization sells all or part of its business to shareholders on a public stock exchange for the first time.
- 38. This legal status enables its shareholders not to be liable for more than the original amount of money invested in the business.
- 41. Growth that takes place when an organization requires the support of a partner for its growth.
- 44. The individuals or organizations that actually use a product.
- 46. Also known as executives, this group of senior managers who run a company on behalf of the owners of the company.
- 47. Business function of identifying the needs and wants of customers so that the organization can provide goods and services to meet these requirements and desires, usually in a profitable way.
- 48. The numerical difference between the cost of factor inputs in the production process and the price that the final output is sold for.