Why Businesses Exist
- Created by: OliviaJeffery
- Created on: 28-06-17 12:39
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- Why Businesses Exist
- Businesses Supply Goods or Serveces
- Businesses sell products to customers
- Products can be Goods or Services
- Goods = Physical Items
- Books
- Furniture
- Services = Actions performed by other people to aid customers.
- Hairdressers
- Plumbers
- Goods = Physical Items
- Products can be Goods or Services
- Some Businesses sell...
- Necessities
- Things you need
- Gas
- Electricity
- Luxuries
- Things you want, but don't need
- Holidays
- Jewellery
- Necessities
- Businesses sell products to customers
- There are Advantages to owning a Business
- People set businesses up to make a profit
- Business makes more money than it spends
- Starting a business can be risky
- Possibility of big Financial Rewards
- Why people set up a business...
- They expect to make more money
- So they can be their own boss
- Make own decisions
- Don't have to answer to anyone else
- Gives them the opportunity to do a job they're interested in
- People set businesses up to make a profit
- Most Businesses Need to make a Profit
- Have to Break Even
- Private Sector
- Could go Bankrupt or get Closed Down
- Privately owned
- Public Sector
- Army
- Police
- Hospitals
- State Schools
- Aren't there to make money
- Provide a service to the community
- Government owned
- Non-Profit
- Charities
- Have Social aims
- Have Ethical aims
- Doesn't have financial aims
- Charities
- Businesses can have Other Aims
- Offer the highest quality goods and services possible
- Excellent Customer Service
- Great image and reputation
- Develop new products
- Ahead of competitors
- Offer a diverse range of goods or services
- Become fully sustainable
- Minimise environmental impact
- Invest in local community
- Invest in Social Projects
- Businesses Supply Goods or Serveces
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