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Key termDefinition
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Environment The natural world around us, which may be affected business
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Ethics The moral rules and principles of a business Going over and above what is required by law
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FlotationWhen a firm offers its shares for sale to the public on the stock exchange for the first time
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Import tariff A way of protecting UK products by adding a tax to imports into the UK
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Organic (Internal) growthA business growth strategy that involves a business growing gradually using its own resources
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Inorganic (External) growth Two or more businesses joining together to make one much larger one in a merger or takeover
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MultinationalA business which operates in more than one country
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Public limited company (Plc) An incorporated business, with Plc after its name that can openly sell shares on the stock market
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Stock market Where buyers and sellers can trade shares
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TakeoverThe process of one business buying another
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Merger Occurs when two or more businesses join together and operate as one
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Trade blocA group of countries that has signed an agreement to reduce or eliminate all import/export protection
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GlobalisationBusinesses operating (selling their products, making their products, employing people, gaining resources/raw materials) on a global scale
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