What Businesses Do

HideShow resource information
  • Created by: Ali Bland
  • Created on: 03-03-15 18:49
View mindmap
  • What Businesses Do
    • Adding Value
      • A method at which a business adds value to inputs in order to make a profit
    • Factors of production
      • Land
      • Capital
      • Enterprise
    • Stakeholders
      • Owners
      • Employees
      • Customers
      • Lenders
      • Government
      • Local Community
    • What a business needs to be successful
      • Good and reliable surrpliers
    • Decision making
      • Strategic
        • Long term about the direction of the business
      • Tactical
        • Short term about day to day issues
      • Intuitive
        • Made by a person using their gut feeling - used by small businesses
      • Scientific
        • Reduces the risk of decisions because they are based on had evidence
    • Consumables
      • Things that need to be replaced frequently
    • Durables
      • Things that are long lasting
  • Trained and skilled employees
    • What a business needs to be successful
      • Good and reliable surrpliers
  • A product or service customers want

    Comments

    No comments have yet been made

    Similar Business Studies resources:

    See all Business Studies resources »See all What Businesses Do resources »