IGCSE Business Studies revision notes for chapter 14

This chapter focuses on ways of judging business success.

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Revision Notes for Chapter 14
1. Social audit ­ the collection of information and reporting on the impact the business has
on the society and the environment
Ways of measuring success
Profit: Many private firms aim to make a profit. A rise in profit should signal
Size: Many businesses aim to grow, so the increase on size should signal success.
Consumer satisfaction: Many business look on how consumers' needs and wants are
being satisfied. If it has more loyal customers, it means that the business is doing well.
Targets: Many owners set up targets for the business when the business was first
launched. An achievement of those target should signal success.


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