Section 1

HideShow resource information
  • Created by: lea sison
  • Created on: 02-05-13 18:08
View mindmap
  • Section 1-Starting a business
    • Enterprise and Entrepreneurs
      • Characteristics
        • Passion
        • Determination
        • Persuasive
        • Understand market
        • Risk-takers
          • New ideas
            • Customer
              • taste
              • attitude
      • Motive
        • Challenge
        • Prove to themselves
      • Goverment support for enterprise
        • Business Link network
          • advice
      • Failure;
        • Business idea not good enough
        • Idea copied by other firm
        • Product/service diasappointed customer
    • Key consepts in business start-ups
      • Transforming inputs to outputs
        • Secondary Sector
          • Gives product value
        • Primary sector
          • Raw materials
        • Tertiary
          • Serviice
            • Wholesaling
            • Retailing
      • Oppertunity cost
        • Misfortune
        • Every business
          • Money
          • Time
      • Dealing with risk
        • Low fear of failure
        • Tolerance of ambiguity (uncertainty)
    • Identifying business oppertunities
      • Generating business idea
        • Observation
        • Brain-storming
        • Personal experience
        • Innovation
      • Spotting an oppertunity
        • Change
          • Society
          • Economy
        • Techniques
          • Small budget research
            • Geographical mapping
              • Current business
                • Prices
                • Special deals
                • Service provided
              • Identify market niche
              • Mapping location of competitors
              • Techniques
                • Small budget research
                  • Geographical mapping
                    • Current business
                      • Prices
                      • Special deals
                      • Service provided
                    • Identify market niche
                    • Mapping location of competitors
                  • Merket mapping
                    • Stage 1
                      • Identify key characterise consumers in market
                        • women clothing - fashion conservative
                    • Stage 2
                      • Place every brand on grid
                        • Reveal where competition is concentrated
                          • =
                            • Gaps in the market
            • Merket mapping
              • Stage 1
                • Identify key characterise consumers in market
                  • women clothing - fashion conservative
              • Stage 2
                • Place every brand on grid
                  • Reveal where competition is concentrated
                    • =
                      • Gaps in the market
      • Franchises
        • Franchisor provides
          • Trainning programme
          • Sets a priice for franchise rights
            • £10,000-£100,000
          • System of monitoring
            • Franchise dont damage rep
        • Franchisee
          • Pros
            • Trainning
            • Adertising support
            • Finance is easier to gain
            • Safer
              • Less likely to fail
            • Interest rates
              • Lower
          • Cons
    • Legal structure for business
      • Private limited company(Plc)
      • Businesses- Limited Liability
        • Incorporation creates separate legal identity
        • Take legal action
        • Must register
          • Registrar of Companies
            • Memorandum of Association
              • Company Name
              • Purpose
            • Article of Association
              • Rights of shareholders
              • Frequency meeting
        • PROS
          • Confident to expand
        • CONS
      • Public Limited company(Ltd)
      • Businesses- Unlimited liability
        • Sole trader
          • CONS
            • Unlimited liability
            • Owner ill/away
            • Lack finance
            • Sacrifice time
          • PROS
        • Partnership
          • PROS
            • Additional skills
            • More capital
            • Shared srain
          • CONS
            • Share profit
            • Loss control
            • Unlimited liability
          • 1890 Partnership Act
        • Assets sized by creditors
          • Bankrupt
      • Other business organisations
    • Protecting business ideas
      • Copyright
        • Original writting
          • Books
          • Song lyrics
        • Automatic
        • Last  life time of author
          • +70 years
        • Sue
      • Patent
        • Stops copying IDEA
          • Civil Offence
        • 2 1/2 YEARS PROCESS
        • Aloows MANOPOLY POWER
        • Expensive
          • £1-4,000
            • UK alone
          • Worldwide
            • £50,000+
        • INVENTORS
          • Incentives
      • Tademark
        • Sign distinguish goods/service of trader
          • Sounds
          • Pics
          • Smell
          • Logo
          • Colours
          • Words
        • Registered
          • Interlectual; Property Office
          • Must
            • Distinctive
            • Original
          • £1-2,000
      • Interlectual property
        • IP
          • Goverment PROTECT this
            • Ono reason to create new  IP
        • Assets created by humans
          • Music
          • Writing
          • Photos
          • Inventions
      • Distinctiveness
        • Compare with other brands
    • Developing business plans
      • Cons
        • Confuse plan with reality
        • Problems arise
          • Plan rigid
        • Less time
          • Visisting suppliers
          • Talking shoppeers
      • Business plan contains
        • Executive Summary
        • Product/service
        • The Market
        • Markweting plan
        • Organisational plan
        • Finalncial plan
        • Conclusion
      • Pros
        • Think carefully
          • All aspects of start-up
        • Obtain capital
        • Realise lack skills
          • employ expert
          • buy in finance
      • Purpose
        • Clear plan
        • Obtain capital
      • Sources of info + Guidance
        • Goverment agencies
          • BIS
            • Guarantee  loan
              • Small firm
                • Firm collapse  pick up bill
                  • BIS
                    • Guarantee  loan
                      • Small firm
                        • Firm collapse  pick up bill
                        • Extra 2% interest
                • Extra 2% interest
            • Local Enterprise Partnership
              • Local council and local businesses
                • Charged
              • Advice start-up
          • Banks
            • Plan toolkit
          • Accountant
          • Prince's Trust
            • Works with
              • Unemployed
                • -30 years old
              • Disadvantaged
            • Lend £4,000
            • Regular Sessions with mentor
              • Free
              • High powered
                • Advice INVALUABLE
          • Small business advisors
            • Mentor
              • Unexpected
            • Expensive

    Comments

    No comments have yet been made

    Similar Business Studies resources:

    See all Business Studies resources »See all resources »