Draining and restraining forces create change so that a business can move forward and remain competitive

Harms of an org, country or grouping that shape the values, beliefs,customs,etc of people.

Socially accepted moral principles that guide decision making, based on the collective belief of what is right and wrong.

Is the advantage of large scale production and the reduction in a firms average costs of production that result from an increase in the scale of operations.

Discount from suppliers for large orders because it's cheaper to process and deliver.

Justify the costs of how production lines and the latest/technologically advanced equipment. The expenses can only be, justified or affordable by large firms.

Bank Preference to leading money, lower interest rates.

Costs rise with size of buyers, but not at same rate; they can be spread over a higher level of sales .

Small firms employ general managers who have a range of management functions. As it expands, it can afford to employ specialist functional managers.

Diseconomies of scale

At some point large firms long run unit costs, increases. They are factors that cause average costs of production to rise when the scale of operations in increased.

Communication problems

Large-scale operations = poor feed back to workers, non-perosonal communication media, distortion of messages. This lead to poor decision making due to inadequate or delayed info and management inefficiently.

Alienation of workforce

The bigger the firm =difficult to directly involve every worker and give sense of purpose and achievement = workers become demotivated and failling to do their best.

Poor coordination and slow decision-making

Business expansion = many departments,divisions and products. The number of countries a business operates in increases. Problem for senior managers are to coordinate operations and make quick decisions.

Worldwide movement toward economic, financial,trade and communications integration.

Changing or creating more effective processes, products and ideas which can increase the likelihood of a business succeeding.

Devising plans to achieve long-term goals of an organisation

Help

Options

focusNode

Didn't know it?
click below

Knew it?
click below

Don't Know

Remaining cards (0)

Know

retry

shuffle

restart

0:00

Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

Normal Size Small Size show me how

Business Management

Flashcards to help you learn Business Terminology for IB Exams.

Term	Definition
Change	Draining and restraining forces create change so that a business can move forward and remain competitive
Culture	Harms of an org, country or grouping that shape the values, beliefs,customs,etc of people.
Ethics	Socially accepted moral principles that guide decision making, based on the collective belief of what is right and wrong.
Economies of Scale	Is the advantage of large scale production and the reduction in a firms average costs of production that result from an increase in the scale of operations.
Purchasing Economies	Discount from suppliers for large orders because it's cheaper to process and deliver.
Technical Economies	Justify the costs of how production lines and the latest/technologically advanced equipment. The expenses can only be, justified or affordable by large firms.
Financial Economies	Bank Preference to leading money, lower interest rates.
Marketing Economies	Costs rise with size of buyers, but not at same rate; they can be spread over a higher level of sales .
Managerial economies	Small firms employ general managers who have a range of management functions. As it expands, it can afford to employ specialist functional managers.
Diseconomies of scale	At some point large firms long run unit costs, increases. They are factors that cause average costs of production to rise when the scale of operations in increased.
Communication problems	Large-scale operations = poor feed back to workers, non-perosonal communication media, distortion of messages. This lead to poor decision making due to inadequate or delayed info and management inefficiently.
Alienation of workforce	The bigger the firm =difficult to directly involve every worker and give sense of purpose and achievement = workers become demotivated and failling to do their best.
Poor coordination and slow decision-making	Business expansion = many departments,divisions and products. The number of countries a business operates in increases. Problem for senior managers are to coordinate operations and make quick decisions.
Globalisation	Worldwide movement toward economic, financial,trade and communications integration.
Innovation	Changing or creating more effective processes, products and ideas which can increase the likelihood of a business succeeding.
Strategy	Devising plans to achieve long-term goals of an organisation

Created by: Nimbe

Popular Business sets

Text and Document Formatting, Arkansas Frameworks

Excel

Personal Characteristics and Skills of a Successful Entrepreneur

Examples of Personal Characteristics and Skills of a successful Entrepreneur

Glossary for Internal Operations of a Large Business

Descriptions of the 5 stages of the Entrepreneurial Process

Entrepreneurial Process Activities

Business Plan Parts

Bus Plan Parts Ex

Bizworld Vocab #1

Unit 1 - Hardware and Software

A4 CBA Excel Vocab

"Know" box contains:
Time elapsed:
Retries: