Business aims/location/stakeholders

What are some signs of business success?
winning awards, opening more branches, increased employees, international expansion, increased profit, more competition and increased sales
1 of 20
What are some signs of business failure?
Increased staff turnover, decreased sales, decreased profit, bad publicity, poor cash flow, closing branches and low staff motivation
2 of 20
What is an aim?
An aim is a long term plan, which isn't specific about timescales or figures.
3 of 20
What are some aims a start up business may have?
To survive, to maximise profit and maximise quality or customer satisfaction
4 of 20
What are some aims a not for profit organisation may have?
To maximise profit, expand the business, maximise social benefit band minimise the environmental impact
5 of 20
What are some aims are large multinational company may have?
To maximise profit, maximise market share, maximise quality or customer satisfaction, minimise the environmental impact and expand business
6 of 20
What is an objective?
A short term target which has a date set for when it is to be done
7 of 20
Define stakeholder
Someone who has an interest in a business because they can affect or is affected by a business
8 of 20
What is an internal stakeholder?
The people who have a direct connection to a business, they can affect it from the inside. e.g owners or employees
9 of 20
What are some aims are large multinational company may have?
To maximise profit, maximise market share, maximise quality or customer satisfaction, minimise the environmental impact and expand business
10 of 20
What is an external stakeholder?
The people who get affected by a business. e.g banks or customers
11 of 20
What are the 8 location factors?
1. historical factors. 2. close to customers. 3. availability of labour. 4. availibility of raw materials. 5. cost of location. 6. transport links. 7. location of competitors. 8. government grants
12 of 20
What is a government grant?
A government grant is when the government give businesses money for starting up in a run down area
13 of 20
When do the 8 location factors not matter?
If the business is online then things like close to customers and cost of location don't matter as much because the business is doesn't need a physical shop anywhere
14 of 20
What are some benefits of international trade
More variety. e.g bananas are grown abroad but not in Britain, more customers, strengthens/improves relations between countries, benefits poorer countries and provides jobs
15 of 20
Why are laws and documentation drawbacks of international trade?
You need specific documents to pass through certain countries and in some countries specific goods are illegal. e.g kinder eggs in the US
16 of 20
Why are language and culture drawbacks of international trade?
You need to translate everything about the product to the needed language. e.g English to Chinese. You also don't want to offend the culture of the country
17 of 20
Why is England a more difficult countryhto trade from/ with
Britain is an island so you can either ship or fly goods on to it. Both methods of transport are more expensive than a lorry or train
18 of 20
What is bulk increasing industry?
For some industries it's cheaper and easier to transport raw materials then manufacturing products closer to the customer. e.g transporting wood instead of fully built wardrobes
19 of 20
What is bulk decreasing industry?
For some industries it is cheaper and easier to transport the manufactured good rather than the raw material. e.g transporting orange juice instead of oranges
20 of 20

Other cards in this set

Card 2

Front

What are some signs of business failure?

Back

Increased staff turnover, decreased sales, decreased profit, bad publicity, poor cash flow, closing branches and low staff motivation

Card 3

Front

What is an aim?

Back

Preview of the front of card 3

Card 4

Front

What are some aims a start up business may have?

Back

Preview of the front of card 4

Card 5

Front

What are some aims a not for profit organisation may have?

Back

Preview of the front of card 5
View more cards

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all Business environment resources »