A Level Business

Year 1 key Terms – version I – May 2015

AQA A Level Business Year 1 Key terms

NB: Where a key term occur in more than one unit, there will generally be noted in the table
below in the unit that they are first mentioned.

Unit Key Terms

1. What is Business A good Profit Privatisation
A service Fixed costs Variable costs Market conditions
A product Total costs Demand
Mission statement Average costs Gross domestic product
Aims Sole trader Real incomes
Objectives Unlimited liability Interest rates
Profit Incorporation Fair trade
Cash-flow Shareholder Sustainable production
Stakeholders Limited liability Dividends
Revenues Market capitalisation
Takeover

2. Management, Leadership Uncertainty The external

Management Opportunity cost environment
leadership and Authority Scientific decision making Social responsibility
decision making Delegation Decision trees Communication
Empowerment Probability Stakeholder
Decentralisation Expected value engagement.
Programmed decisions Net gains Consultation
Non- Programmed decisions Ethics
Risk

3. Decision making Relationship marketing Market share Confidence interval

Business ethics Sales growth Big data
to improve Marketing objectives Internal influences Positioning
marketing Market growth External influences Marketing mix
performance Primary market research Competitiveness Consumer products
Secondary market research Target population Industrial products
Price elasticity of demand Sample Product life cycle
Income elasticity of demand Brand Product portfolio
Segmentation Patent analysis.
Market segment Trademark Social media
Targeting Globalisation Viral marketing
Niche marketing Market research Multichannel
Mass marketing Market mapping distribution.
Sales value Confidence level E-commerce
Sales volume

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 A Level Business

Year 1 key Terms – version I – May 2015

Unit Key Terms

4. Decision making Operational management Unit/average costs Mass customisation
Labour intensive Capacity Inventory
to improve Capital intensive Capacity utilisation Part time
operational Supply chain Labour productivity Temporary staff
performance Operations objective Efficiency Vertical integration
Competitive advantage Lean production Corporate social
Total costs Quality responsibility.
Outsourcing

5. Decision making Financial objectives Budgets Short & long term

Income statements Variance analysis finance.
to improve Gross profit Cash flow forecasts Bank loan
financial Direct costs Break-even output Overdraft
performance Indirect costs Contribution Venture capital
Operating profit Trade credit Share capital
Profit for the year Margin of safety Mortgages
Investment Profitability Debentures
Non-current assets Profit margin Crowdfunding
Capital expenditure Internal & external sources
Capital structure of finance.

6. Decision making Human resource objectives Employer brand Trade union

Employee engagement Human resource flow Collective bargaining
to improve Employee involvement Recruitment & selection Trade union wage
human resource Training Redundancy premium.
performance Talent development Dismissal Works council
Diversity Redeployment Arbitration
Unit labour costs Division of labour Industrial dispute
Labour turnover Time and motion study Conciliation
Labour retention Commission
Human resource plan Piece rate
Job design Performance related pay
Job enrichment Variable pay
Empowerment Employee welfare
Organisational structure Appraisal
Organisational design Team-working

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