offering a low starting price then slowly increasing price.

when brands set a price lower than a whole number . EG. £3.99 is cheaper than £4

where companies will temporarily reduce prices to attract customers

when a business sets prices based from competitors orices

calculating cost of producing item +                               percentage profut required 

slow growth             unlimited liability       no continuity

shared work load    more skills              mor finance

shared profit            unlimited liability     lack of continuity

recieve all profits    your own boss        very flexible 

a business that cab sell its shares / products to sbyone who wants to buy. can also sell on stock market

not easy to set up     anyone can buy the shares

smaller business that only sells to invitef people (friends/family)

continuity                 easy to control        limited liability 

not easy to set up   business infomation public

a partner who has invested money but have no part in day 2 day running of the business . EG. dragons den / shark tank investors 

work more than 48hours a week ( overtime is optional, not forced on an employee ) 

the working time directive law makes it illegal to..

take reasonablr care of yourself , fellow employees and the public

one way 
two way 
internal 
external 
horizontal 
vertical 
formal 
informal

 gerbder 
marital staud
family status 
age
disability
sexual orientation 
race
religion
membership of traveller comunity

equality law stops discrimination against..

adverts                    busses/ bus stops shop windows         website                  billboard                  cinema                   posters                social media        video ads                news papers/ magazine

initially setting a high price then slowing bringing it down to atrsct sensitive spenders

when a company successfully takes control of another company

when two companies completly  unrelated merge together EG    nike X heinz beans

an agreement that united teo existing companies into s nee company

reduces risk. not just for a nee business but also if s business is expanding EG new finance , or if the market changes . very detailed , lots of research

customers , suppliers , gover, local comunity

internal : filld vacanies with current employee                      enternal: filling a vacancy by hiring s néw employee 

legsl entity to the right to conduct a business on itd own

someone who startd there own businesd having identified a nee opportunity EG James dyson , Levi roots , Oprah winfrey

intro ,    market plan /research (4p desicion) , operations + human resources,   financial plan: souce of finacr , cashflow forcast , profit / loss forcast

induction                 on/ off the job

job enrichment      rotatoon                  flexibility                   recognition              extra leave              job security 

OCR business paper 1

Flashcards

OCR business paper 1

Flashcards