21 of the Business glossary’s terms, each with the part of the syllabus where you first meet it.
A horizontal bar chart that shows the tasks of a project against a time scale, with the start, duration and end of each task, used to plan a project and monitor its progress.
An area of a market, often shown on a position map, where customer needs exist but no product or brand is currently positioned to meet them.
The percentage of a business’s capital employed that is financed by non-current liabilities, showing how far it relies on long-term borrowing rather than equity.
The European Union law, in force since 2018, that regulates how organisations collect, store and use personal data, gives individuals rights over their data, and allows large fines for breaches.
Dividing a market according to the location of customers, such as country, region, urban or rural area, or climate.
The ease with which workers can move from one location to another to take up work, which depends on factors such as housing costs, family ties, language and transport.
A labour market in which individuals work on short-term tasks or projects, often arranged through digital platforms and paid per task, rather than in permanent employment.
A supply chain in which sourcing, production and distribution take place in several countries, linking suppliers, producers and customers across national borders.
The growing integration and interdependence of the world's economies through increased trade in goods and services, flows of capital, people, technology and ideas across borders.
A strategy that combines a standardised global brand and core product with adaptation of parts of the marketing mix to local tastes, culture and conditions; often summed up as “think global, act local”.
A form of industrial action in which employees deliberately reduce the pace of their work, lowering output while remaining at work.
Physical, tangible products, such as cars, clothing and food, that can be stored, transported and transferred from one owner to another.
An intangible asset that arises when one business buys another for more than the fair value of its net assets; the excess paid for reputation, customers, staff and brands.
A sum of money given by a government or public body to a business for a specific purpose, which does not have to be repaid if its conditions are met.
The informal and unofficial network of communication between employees through which information and rumours spread quickly across an organisation.
A form of foreign direct investment in which a business builds new operations, such as a factory, office or store network, in a foreign country rather than buying an existing business.
The practice of giving a misleading impression of how environmentally friendly a business, product or activity is, in order to improve its image or sales.
The profit a business makes from trading before its expenses are deducted, calculated as sales revenue minus cost of sales.
Gross profit expressed as a percentage of sales revenue, showing how much of each $1 of sales is left after paying the cost of sales.
The stage of the product life cycle in which sales rise rapidly, unit costs fall, the product becomes profitable and competitors begin to enter the market.
Unconventional, often low-cost promotion that uses surprise and creativity in public or online spaces to attract attention and get people talking about a brand.