9 of the Business glossary’s terms, each with the part of the syllabus where you first meet it.
The extent to which members of a society feel threatened by ambiguous or unknown situations and try to avoid them through rules, structure and planning.
The termination of an employee's contract without a fair reason or without following a fair procedure, for which the employee can claim compensation or reinstatement.
A feature or benefit of a product that distinguishes it from competitors' products and gives customers a reason to buy it.
A method of depreciation that charges each year according to how much the asset is used, calculated from cost minus residual value divided by the total expected units, times the units in the year.
The legal obligation of the owners of an unincorporated business to pay all its debts, if necessary from their personal assets.
Needs or problems of customers that existing goods and services do not satisfy, or satisfy only poorly, which a business can address with a new or improved product.
The quantity of an item of stock used or sold per period of time, such as 100 units per week.
The period over which a business expects to use a non-current asset, measured in years or in units of output, before it is sold or scrapped.
Material about a brand or product, such as reviews, photos, videos and posts, that is created and shared by customers rather than by the business.