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Young Enterprise Revision

Possible questions

Why did you develop a mission statement?

To summarise what the company is all about and what it aims to achieve. Point
Blanc aims to provide a professional service selling a range of new and exciting
high quality products as well as hosting fun events…

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We had to get our posters approved by the headmistress before we could put
them up. We had to have a minimum of 1 teacher to every 10 students at our
social.

How did your company deal with any risks associated with your
products/services?

To prevent any accidents at out…

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us are glued to our phones so the BBM proved to be a very quick and effective
means of communication.

Having so many communication channels meant that company were kept
informed in some way shape or form. This greatly improved the efficiency of our
company, as everyone was fully aware…

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company members felt involved and motivated to do their best for the company.
I laid strict ground rules during meetings such as no use of mobile phones so that
everyone in the company was focused and attentive.

I believe my weaknesses lay in my inability to delegate tasks as effectively…

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Liquidation: The process of terminating the affairs of a business.

Minutes: The written report of the proceedings of a meeting.

Overheads: A business' general expenses, but not the direct cost of producing
an article. They include administrative costs, management salaries, heat and light,
rent and rates, depreciation of your assets,…

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Sole traders
A sole trader is any business that is owned and run by one person. Sole traders do
not have a separate legal existence from their owner. This means they are
personally liable for any debts the business incurs. This is known as unlimited
liability. Sole traders are the…

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progress and the part each Company member plays in achieving customer
delight;
Representing your Company where required;

Administration

As Company Secretary you are responsible for the co-ordination, communication
and organisation of issues relating to the company. Specific elements of your role
include completing registration documents and keeping the share register.…

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Human Resources

As Human Resources Director you are responsible for looking after the members
of your company. You should consider how you will motivate staff, what sort of
reward and recognition your company can offer, and what sort of training should
be given. You should interview and counsel staff whilst…

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