1.5 Entrepreneurs and Leaders

?
Risk
Choices made in spite of potential problems known to the business.
1 of 15
Uncertainty
Choices made in a business that do not account for unexpected problems.
2 of 15
Aims and Objectives Pyramid
Mission Statement, Corporate Aims, Corporate Objectives, Functional Objectives and Individual Objectives
3 of 15
SMART
Specific, Measureable, Attainable, Relevant, Time-based.
4 of 15
Profit Maximisation
Achieveing a maximum profit with low operating expenses.
5 of 15
Profit Satistificing
Making enough profit to keep shareholders happy or for investors to maintain confidence in the management.
6 of 15
Key Business Aims
Survival, Positive cash flow, Cost Efficiency.
7 of 15
Public Limited Company
A business who's parts are traded on a stock exchange and can be bought or sold by anyone.
8 of 15
Social Enterprise
Organisations that trade with the aim of making a difference instead of making a profit.
9 of 15
Partnership
An organisation that is owned by 2-20 people.
10 of 15
Lifestyle Business
An organisation run by it's founders primarily with the aim of sustaining a particular level of income to enjoy a particular lifestyle.
11 of 15
Online Business
A company that does all or most of its transactions through the internet.
12 of 15
Franchise
This is a company that allows other businesses to trade in it's brand in return for a variety of fees.
13 of 15
Sole Trader
A business organisation which has a single owner.
14 of 15
Opportunity Cost
The value of the next best alternative foregone.
15 of 15

Other cards in this set

Card 2

Front

Choices made in a business that do not account for unexpected problems.

Back

Uncertainty

Card 3

Front

Mission Statement, Corporate Aims, Corporate Objectives, Functional Objectives and Individual Objectives

Back

Preview of the back of card 3

Card 4

Front

Specific, Measureable, Attainable, Relevant, Time-based.

Back

Preview of the back of card 4

Card 5

Front

Achieveing a maximum profit with low operating expenses.

Back

Preview of the back of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Entrepreneurs resources »