Business Studies - Prelim Study Notes - 1893 Words

Key Terms: * Analyse: identify components and the relationship between them; draw out and relate implications. * Appreciate: make a judgement about the value of. * Assess: make a judgement of value, quality, outcomes, results or size. * Define: state meaning and indentify essential qualities. * Describe: provide characteristics and features. * Determine: make a decision or work out an answer after appropriate thought and investigation. * Discuss: identify issues and provide points for and/or against * Distinguish: recognise or note/indicate as being distinct or different from; to note differences between. * Evaluate: make a judgement based on criteria; determine the value of. * Examine: inquire†¦show more content†¦* Geographic: opportunities for business expansion, sales and profit. * Institutional: government, regulatory bodies and others such as trade unions and employer associations. * Legal: can be time consuming and costly, confusing and contradictory. Many laws apply to busin esses. * Markets: the number of competitors in a particular market. * Political: derive from both state and federal government policies including taxation and the implementation of paid parental leave. * Social: changes in tastes, fashion and culture. Failure to respond to change can threaten stability and viability * Technological: can increase business productivity and communication. Internal: * Business culture: values, ideas, expectations and beliefs shared by the staff and managers of the business. * Location: prime locations = customer convenience + visibility * Management: ability to adapt to changing consumer needs and market conditions. * Product: types of goods and services produced, how created and monitored. * Resource management: employees, knowledge and data requirements, equipment and funds. Stakeholder: any individual or group who has an interest in or is affected by the activities of a business. * Shareholder * Consumer/customer * Manager * Employee * Other businesses * Society * Government * Innovation * Environment * Economy Business Lifecycle: *Show MoreRelatedImpact Of Curricular Activities On Employment Opportunities1746 Words   |  7 PagesTHE IMPACT OF EXTRA CURRICULAR ACTIVITIES ON THE EMPLOYMENT OPPORTUNITIES OF GRADUATES INTRODUCTION The literature review highlights key attributes based around labour and graduate market, how graduates adopt into the business environment, through the use of extra curriculum activities. Additionally, examining how the marketing sector has changed over the last 5 years in comparison to the recession. 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