Business Unit 1 AS

HideShow resource information
Preview of Business Unit 1 AS

First 228 words of the document:

MOTIVES: MONEY, OWN BOSS, IN CHARGE OF HOURS, HOBBY
DOWNSIDES: EXPENSIVE TO START-UP, HARD WORK AT BEGINNING, EASY TO FAIL
RISKS: LOOSE MONEY AND MORE, STRESSFUL
REWARD; CAN EARN A LOT, OWN HOURS, OWN BOSS
SOURCES OF BUSINESS IDEAS: WEBSITES ( BUSINESS LINKS, BUSINESS ANGELS ), BANKS,
GOVERNMENT PROGRAMMES
INPUTS AND OUTPUTS O THE TRANSFORMATION PROCESS:
RESOURCES/INPUTS=THE ELEMENTS THAT GO INTO PRODUCING THE GOOD/SERVICE
FACTORS OF PRODUCTION=TURNING INPUTS INTO OUTPUTS
PRODUCTION=WHERE FACTORS OF PRODUCTION ARE TURNED INTO A FORM WHICH SATISFIES
CUSTOMERS
THERE ARE 4 FACTORS OF PRODUCTION: (CELL)
CAPITAL- GOOD S THAT ARE MADE IN ORDER TO PRODUCE OTHER GOODS AND SERVICES FOR
EXAMPLE MACHINERY, SHELVING AND FACTORIES
ENTERPRISE- THE ACT OF BRINGING TOGETHER THE OTHER FACTORS OF PRODUCTION IN ORDER TO
CREATE GOODS/SERVICES. ENTERPRISE IS CARRIED OUT BY THE ENTREPRENEUR
LAND ­ NATURAL AND MINERAL RESOURCES SUCH AS COAL, OIL, GRAVEL AND LIVESTOCK
LABOUR- DESCRIBES BOTH THE PHYSICAL AND MENTAL EFFORT INVOLVED SUCH AS WINDOW
CLEANERS OR HARVESTING CROPS.
ADDING VALUE- THE PROCESS OF INCREASING THE WORTH OF A GOOD EG ADDING A
CAMERA TO A PHONE
BUSINESS PLANS-
WHAT GOES INTO A BUSINESS PLAN-
WHAT THE PRODUCT SERVICE IS FINANCIAL PLAN
MARKET ANALYSIS SUMMARY
STRATEGY PROBLEMS

Other pages in this set

Page 2

Preview of page 2

Here's a taster:

MANAGEMENT TEAM…read more

Page 3

Preview of page 3

Here's a taster:

SOURCES OF INFORMATION AND GUIDANCE-
SMALL BUSINESS ADVISORS, ACCOUNTANTS, BANK MANAGERS, GOVERNMENT AGENCIES
PRIMARY & SECONDARY DATA-
PRIMARY- DATA THAT IS COLLECTED FIRST HAND EG QUESTIONNAIRES
STRENGTHS- RELIABLE, DATA IS UP TO DATE, DATA IS TAKEN DIRECTLY FROM THE POPULATION
WEAKNESSES- TIME CONSUMING, COSTLY
SECONDARY- SECOND HAND DATA EG OLD SURVEYS
STRENGTHS- SAVES TIME AND MONEY
WEAKNESSES- UN RELIABLE, RESEARCH CAN BE OUT OF DATE
GEOGRAPHICAL MAPPING- PLOTTING ON A MAP THE LOCATIONS OF ALL THE EXISTING BUSINESSES
IN YOUR MARKET
MARKETING-
MARKET SHARE- THE…read more

Page 4

Preview of page 4

Here's a taster:

DEFINING LEGAL STRUCTURES-
SOUL TRADER- OWN THEIR OWN BUSINESS FUNDED THROUGH PERSONAL FINANCE OR
BORROWING FROM LENDERS EG BANKS
A PARTNERSHIP- BUSINESS FUNDED THROUGH PERSONAL FINANCE OR BORROWING
FROM LENDERS EG BANKS
A (LTD) LIMITED COMPANY- OWNED BY SHAREHOLDERS, FUNDED BY SHARE HOLDERS OR
LENDERS EG BANKS
A PUBLIC LIMITED COMPANY- A COMPANY LISTED IN THE STOCK MARKETS AND ANYONE
CAN BUY SHARES.…read more

Page 5

Preview of page 5

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all resources »