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Key Terms (Public Limited Company PLC, shares traded on public stock…
Key Terms
Public Limited Company PLC, shares traded on public stock exchange, many shareholders, costly to administer
Private Limited Company LTD, incorporated business, privately owned, shares not publicly, quick/easy administer
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Capital Growth +value business, +share price
Floatation on stock exchange, costly, time consuming
Rights Issue news shares existing shareholders, subscribe
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Limited Liability important protection shareholders, lose investment
Autocratic Leader focus of power w/ manager, top down, rewards and penalties
Demographic Leader decide what best, little delegation
Laissez-faire leader little input, effective staff take responsibility
Paternalistic leader decides what best, little delegation
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Random Sampling equal chance chosen, mass appeal
Quota Sampling sample chosen, quick, cheap
Exploration past data predict, plan production, ask individuation expert views, research
Confidence Intervals 100% true, reliable estimate confident act on data
Elastic more 1, demand change with price
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Lean Production reduce waste, 0: delay, stock, mistake, waste, accident
Cell Production teams, members motivate one another, different cell speeds
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Intangible appearance, reliability, durability
Quality Control system, inspect and check quality end production
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Total Quality Management continuous improvements who workforce, attitude right first time
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Cost Minimisation - raw materials cost, wage levels and rent
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Zero Budgeting back 0, time consuming, encourage planning, ensure growth
Historical Budgeting last year figures, realistic
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Job Enrichment greater responsibility, satisfaction, - costs, change hierarchy
Job Enlargement responsibility give more jobs, relives border, - quality
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Redundancy position not needed, avoid
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Comission sales person, personal
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Capacity Utilisation efficiency of staff, asserts and resources
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Franchising selling right use brand, exchange fee
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Emerging Markets countries rapid economic growth, new market
Delayering X effect prod line, empower remaining, intensify work load
Close Division - FC, hard reopen
Research & Development investigate improvement production process, nature
Patents new inventions, how do, what made of
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