Business

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  • Created by: Immy1000
  • Created on: 27-02-17 16:30

Business

A business is an organisation whose purpose is to produce goods and services to meet the needs of customers. A business might produce its own goods or buy them from a supplier and sell them to customers.

Things to think about: 

  • Is there a business opportunity?
  • How will the business be financed?
  • Whis is required to get the buesiness up and runnung?
  • What legal aspects have to be considered?
  • What products or services will be sold and to whom?

Supplier: A business who suppliess products to another business

Production: Using raw materials, labour and machinery to make products

Customer: A person or organisation that buys the product or service

Consumer: The person that uses the product 

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