Business & Management Unit 1

T5. Economic growth occurs when the general price level in an economy continuously rises

T4. Members of the organization

T4. All shareholders are internal stakeholders

T3. Plans of action to achieve the strategic objectives of an organization

T1. _______ is the act of behaving as an ________ but as an employee within an organization

T1. People or organizations that buy the product

The costs of manufacturing decreases as more is produced

T6. Occurs when a business works with or join with a firm operating in an earlier stage of production

T1. Sector involved in the manufacturing or construction of products

T3. It outlines an organization's aspirations

T2. Organizations that operate in the _______ sector are under the control of the government

T3. New customers for existing products

T2. There is legal difference between the owners of a company and the business itself

Two or more firms agree to form a new organization, thereby losing their original identities

T4. Situations where stakeholders have disagreements due to differences in their opinions

T6. In a joint venture, organizations form a separate legal enterprise

T2. "Shareholders cannot lose more than they invested in the company"

T3. It can be used to assess the current and future situation of a business

T2. This is NOT a for-profit social enterprise

T4. Model that assesses the relative interest of STAKEHOLDERS and their relative power

T1. Report detailing how a business sets out to achieve its goals and objectives

T5. Fluctuation in the level of business activity over time

T5. This occurs when there is a fall in GDP (business cycle)