a written document describing the nature of the business

allows a group of products to undergo a production process at the same time

allows information to be passed down from top management to subordinates

an agreement between a specialist finance company and a business that is in need of ready cash

an agreement where the business is allowed to draw cheques in excess of its account balance at the bank

an autocratic leader makes all the major decisions in the firm

an estimate of the possible future levels of costs

an illustration showing the total percentage market share of each product and the rate of growth in the market

an incentive for hard work done. It can also be used to encourage workers to put in extra effort in carrying out their responsibilities

an in-depth analysis of the firm’s ability to complete a project or create a successful business venture amid legal

an individual who employs and organises the factors of production to create a business venture with the aim of making profits

an individual’s comparative judgement as a result of the perceived value that is placed on a product

an informal network that exists among employees or individuals that is not officially sanctioned by management

any activity that a firm undertakes to add value to the factors of production by converting them into another product

any item or service that is offered for sale to the market with the aim of satisfying a consumer’s need or want