Business aims an objectives

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private companies

owned by private shareholders and shares in them can only be bought privately. 

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public company

anyone can buy shares, they are traded in a stock exchange 

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stock exchange

market for shares that have already been issued to shareholders. they can then sell off existing shares and buy others

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not-for profit businesses

aren't run to make a profit 

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Good

something a customer buys because they believe it will make them better off. 

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Shareholder

own more than one share in a business 

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Service

this is provided for customers to enjoy but they do not have anything to take home with them

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For-profit businesses

owned by:

  • Sole Traders (one owner) businesses.
  • group of partners working together.
  • shareholders 
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Product

something you can touch and see 

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Production

process of making the products 

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charity

set up for a specific charitable purpose. they do not make a profit 

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voluntary organisation

they are staffed by unpaid volunteers such as the womens Royal voluntary service

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aims and objectives

they are the ends that you seek to achieve when you carry out a particular task. 

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aim

general end that a business is working towards.

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objectives

sub-components to the aim 

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SMART objectives

Specific 

Measurable 

Achievable

Realistic

Time related

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owner

who the business belongs to

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company

owned by shareholders but it is often managers who make decisions and control the business

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sole trader

owned and controlled by one person. it is the most common form of business and is found in wide range of activities.

all profits go to the sole trader

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