Edexcel GCSE Business key terms

Acquiring knowledge or skills independently, for example by using learning materials or practising through trial and error.

An employee who leads a business function or major area of activity, turning overall objectives into plans and overseeing teams.

A non-physical activity provided for a customer, such as hairdressing or tourism.

Finance raised by a limited company through issuing shares, which represent part-ownership of the company.

A person or organisation that owns shares in a company and therefore owns part of it.

A target that is specific, measurable, achievable, relevant and time-bound.

Online platforms on which users and businesses create and share content and interact with others.

A business target intended to benefit people or society, rather than simply increase the owner’s financial gain.

A business owned by one person who has unlimited liability. The owner may employ other people.

A method of obtaining funds to start a business, support its day-to-day activities or finance investment and growth.

The number of employees who report directly to a particular manager.

A temporary incentive, such as a discount or buy-one-get-one-free deal, intended to encourage purchases.

Financial or other support given to an individual, team, event or organisation in exchange for promotional exposure or association.

A person or group with an interest in, or affected by, a business and its activities, such as employees, customers, owners or the local community.

A situation in which pursuing one stakeholder group's objective makes it harder to meet another group's objective.

The materials, partly completed products and finished goods a business holds.

Managing the amount and timing of stock held so that a business can meet demand without unnecessary stockholding costs.

The process of offering a company’s shares to investors and listing them on a stock market for the first time.

A situation in which a business runs out of an item of stock.

An employee who organises and oversees the day-to-day work of a group of workers.

A business that provides goods, materials or services to another business.

The connected businesses and processes that take materials through production and distribution to the final customer.

An employee who provides services, such as administration or finance, that help other employees and the business operate.

Research that asks a group of respondents questions to gather information about their needs, opinions or behaviour.

Continuing to trade by covering costs and maintaining enough cash to pay bills when they fall due.

Using resources and operating in ways that meet present needs without compromising the ability of future generations to meet their needs.

The purchase of a controlling interest in another business. Buying more than half of a company’s voting shares normally gives control.