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Title: A level Edexcel Theme 3 key terms
Description: These A Level Edexcel Theme 3 notes contain clear definitions and explanations of all key terms required for success in Theme 3: Business Decisions and Strategy. Ideal for students preparing for Edexcel A Level Business exams. Content is aimed at Year 13 (second-year A Level) and includes concise terminology useful for revision, quizzes, and mock prep. Suitable for all exam boards using similar business vocabulary, but specifically tailored to Edexcel’s specification.
Description: These A Level Edexcel Theme 3 notes contain clear definitions and explanations of all key terms required for success in Theme 3: Business Decisions and Strategy. Ideal for students preparing for Edexcel A Level Business exams. Content is aimed at Year 13 (second-year A Level) and includes concise terminology useful for revision, quizzes, and mock prep. Suitable for all exam boards using similar business vocabulary, but specifically tailored to Edexcel’s specification.
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Theme 3
Asset stripping
National Minimum Wage
The practice of buying businesses and breaking
them up
...
The minimum pay per hour all workers are entitled
to by law
...
A method of investment appraisal that measures
the net return per annum as a percentage of the
initial spending
...
The present value of future income from an
investment project, minus the cost
...
A chart showing the order of the tasks involved in
completing a project, containing information about
the times taken to complete the tasks
...
Positions in a network diagram which indicate the
start and finish times of a task
...
A target of or outcome for a business that allows it
to achieve its aims
...
A market dominated by a few large businesses
...
It involves the idea that businesses
bear a responsibility that stretches beyond their
shareholders
...
Corporate strategy
Organisational change
The plans and policies developed to meet a
company's objectives
...
It is also concerned
with whether the size of the business organisation
makes it capable of achieving the objectives set
...
Correlation
Organisational, organisation, corporate or
business culture
The relationship between two sets of variables
...
Correlation coefficient
Payback period
A measure of the extent of the relationship
between two sets of variables
...
Critical path
Penetration
The tasks involved in a project which, if delayed,
could delay the project
...
Theme 3
Critical path analysis (CPA)/network analysis
PESTLE analysis
A method of calculating the minimum time
required to complete a project, identifying delays
which could be critical to its completion
...
Cultural dimensions
Portfolio analysis
A set of characteristics that form the international
context of business culture
...
Decision tree
Present value
A technique which shows all possible outcomes of
a decision
...
The value today of a sum of money available in the
future
...
Marketing new or modified products in existing
markets
...
Illustration of the relative profitability of a
business
...
The number of staff who are absent as a
percentage of the total workforce
...
g
...
Theme 3
Distinctive capability
Ratio analysis
A form of competitive advantage that is
sustainable because it cannot easily be replicated
by a competitor
...
Diversification
Remuneration
Developing new products in new markets
...
Earliest start time
Return on capital employed (ROCE)
How soon a task in a project can begin
...
The profit of a business as a percentage of the total
amount of money used to generate it
...
Identifying and evaluating the potential risks that
may be involved in an activity that a business
proposes to undertake, ensuring compliance with
health and safety legislation
...
Identify, assess and prioritise risks, and plan
responses to deal with the impact of these risks on
the operation of the business
...
Sanctions are restrictions imposed on trade or
investment with the aim of influencing a policy
change in another country
...
Evidence-based decision making
Scatter graph
An approach to decision making that involves
gathering information and using a systematic and
rational approach to reach a conclusion
...
It is used to show whether a
correlation exists between the variables
...
A strategic planning method designed to explore
uncertainties, learn how to protect the business
from their worst consequences and prepare how
to exploit any opportunities that might present
themselves
...
A measure of company performance that
combines the size of dividends with the share
price
...
The time period where decisions only have aimpact
on the operational activities of a business —
typically less than five years,
Finance cost
SMART
Interest paid by a business on any orrowe money
...
Theme 3
Finance income
Stakeholders
Interest received by a business on any money held
in deposit accounts
...
Forward vertical integration
Strategic decisions
Joining with a business in the next stage of
production
...
Can be risky
...
A culture where the values, beliefs and ways of
working are deeply embedded within the business
and its employees
...
An approach to decision making where the
personal opinions of the key decision maker
strongly influence the course of action chosen
...
Identifying and developing people who have the
potential to occupy key roles in a business in the
future
...
An analysis of the internal strengths and
weaknesses of the business and the opportunities
and threats presented by its external environment
...
The combining of two or more activities or
businesses creating a better outcome than the sum
of the individual parts
...
The process of one business buying another
...
A method that allows a business to predict future
levels from past figures
...
The time by which a task can be delayed without
affecting the project
...
An organisation whose members are all involved in
the same industry or trade
...
Investment appraisal
Transformational leadership
The evaluation of an investment project to
determine whether or not it is likely to be
worthwhile
...
Theme 3
Labour productivity
Vertical integration
Output per worker in a given time period
...
Labour retention
Window dressing
The number of employees that remain in a
business over a period of time
...
Labour turnover
Market development
The rate at which staff leave a business
...
Latest finish time
Merger
The latest time that a task in a project can finish
...
Living wage
Minimum efficient scale
An hourly rate of pay based on the basic cost of
living, set independently of government and
updated annually
...
Long term
Mission statement
The time period where decisions have an impact
on the vision, mission and objectives of a business
— typically longer than five years
...
Theme 3
Management of change
Monopoly
The process of organising and introducing new
methods of working within a business
...
Moving average
A succession of averages derived from successive
segments (typically of constant size and
overlapping) of a series of values
Title: A level Edexcel Theme 3 key terms
Description: These A Level Edexcel Theme 3 notes contain clear definitions and explanations of all key terms required for success in Theme 3: Business Decisions and Strategy. Ideal for students preparing for Edexcel A Level Business exams. Content is aimed at Year 13 (second-year A Level) and includes concise terminology useful for revision, quizzes, and mock prep. Suitable for all exam boards using similar business vocabulary, but specifically tailored to Edexcel’s specification.
Description: These A Level Edexcel Theme 3 notes contain clear definitions and explanations of all key terms required for success in Theme 3: Business Decisions and Strategy. Ideal for students preparing for Edexcel A Level Business exams. Content is aimed at Year 13 (second-year A Level) and includes concise terminology useful for revision, quizzes, and mock prep. Suitable for all exam boards using similar business vocabulary, but specifically tailored to Edexcel’s specification.