Business Studies


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  • Created by: Kieran
  • Created on: 14-12-11 22:25


Income Budget: Shows the agreed, planned income of a business over a period of time.

Franchisee: A franchisee is someone who buys a franchise, runs and maintains it, whilst giving a percentage of profit to the franchisor.

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B/E Output:  FC / P-VC

Market Share: (Sales of a firm / market size) x100

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Consultants advantages:

  • Additional skills e.g. you may lack something, so you hire a consultant
  • Intelligent advice e.g. what you should do (advice)


  • Cost - consultants are expensive to hire
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Business plan

Definition: A report describing the aims and objectives of a business.


  • To see if the business is feasible
  • Identifies what a business is aiming for and what its objectives are, so it adds a target to achieve, improving motivation


  • Time consuming, and can be overly optimistic

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