Business terms: Z

3 of the Business glossary’s terms, each with the part of the syllabus where you first meet it.

Z

Zero-based budgetingHL only · also zero budgeting, ZBB: A method of setting budgets in which every budget starts at zero and each item of planned spending must be justified before it is approved.
Introduced in 3.9 Budgets
Zero-hours contractalso zero-hours contracts: A contract of employment under which the employer does not guarantee any minimum number of hours, and the worker is paid only for the hours actually worked.
Introduced in 2.1 Introduction to human resource management
Zero-level channelalso direct distribution, direct selling: A distribution channel in which the producer sells directly to the consumer, with no intermediaries.
Introduced in 4.5 The seven Ps of the marketing mix