1.1.3 The role of business enterprise and the purpose of business activity
- Created by: Becky_strawberry
- Created on: 27-11-18 18:36
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- The Role of Business Enterprise and the Purpose of business activity
- To produce goods or services
- Land - somewhere to produce the goods
- Labour - people to work in the business
- Capital - money to get the business started
- Enterprise - this is the drive or motivation from the owners to start a business
- To meet customer needs
- Fast, efficient and accurate service
- High quality products at a competitive price
- Friendly, helpful service staff to provide information and answer questions
- Prompt responses to their inquiries, whether online, by phone or in person.
- Sufficient stock to meet their needs without long waits
- Trained staff that can handle their questions without referring them on
- A clean shop or easy to navigate website.
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- To add value
- Added value - the difference between what a business pays its suppliers and the price it is able to charge for its product or service
- Ways to add value
- Branding
- Nike
- Design
- Dyson
- Unique Selling Point
- M&Ms
- Quality
- Hotel Chocolat
- Convenience
- Breakfast Bars
- Branding
- To produce goods or services
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