Business Unit 1

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  • Unit 1 - What is business
    • Chapter 1 - Understanding the nature and purpose of business
      • Why businesses exist
      • Relationship between mission and objectives
      • Why businesses set objectives
      • Common business objectives
      • Measurement and importance of profit
    • Chapter 2 - Understandingdifferent business forms
      • Different forms of business
      • Private Sector
      • Role of shareholders and why they invest
      • Influences on share price and the significance of share price changes
      • Choosing a form of business and changing form in the private sector
      • Effects of ownership on mission, objectives, decisions and performance
    • Chapter 3 - Understanding that businesses operate within an external environment
      • External environment
      • Influence of the external environment on business costs and the demand for goods and services
      • Costs and demand
      • Competition
      • Incomes
      • Interest rates
      • Demographic factors
      • Environmentalissues and fair trade


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