Business Environment (Objectives) 0.0 / 5 ? Business StudiesBusiness Environment (Objectives)ASCCEA Created by: jason822Created on: 21-05-19 11:31 What does the 'S' in SMART Represent? SPECIFIC - Set out clearly what the business wants to achieve. 1 of 9 What does the 'M' in SMART Represent? MEASUREABLE - Capable of being measured so they may judge if they've achieved their objective. 2 of 9 What does the 'A' in SMART Represent? AGREED - Everyone must agree to the objective and its terms 3 of 9 What does the 'R' in SMART Represent? REALISTIC - The objective must be achieveable 4 of 9 What does the 'T' in SMART Represent? TIME SPECIFIC - The objective must be achieved within a given period of time. 5 of 9 Who are Stakeholders? Stakeholders refer to any individual or group which is affected by the business, therefore having an interst in its activities. 6 of 9 Private Sector Franchise / Sole Trader / Partnership / PLC / LTD 7 of 9 Sole Trader Privacy / 1 Owner / Unlimited Liability / Easy to Set-Up / All Profits Kept 8 of 9 Partnership 2-20 Owners / 0 - Infinite Employees / Sleeping Partner (Little Work, Gets Profit) / Deep of Partnership - Capital, How Profits are Shared, Duties and Salaries 9 of 9
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