Business Forms 0.0 / 5 ? Business Studiesbusiness formsASAQA Created by: sarajwalkerCreated on: 08-10-15 09:22 Why does a business exist create employment, create wealth, create new products, enhance a country's reputation 1 of 17 inputs people, finance, capital requirement, land & natural resources, materials 2 of 17 outputs goods, services, waste 3 of 17 primary farming 4 of 17 secondary manufactoring 5 of 17 tertiary services 6 of 17 smart aims specific, measurable, agreed, realistic, time specific 7 of 17 business objectives profit/profit maximisation, growth, survival, cash flow, social and ethical objectives, diversification 8 of 17 total costs formula fixed costs + variable costs 9 of 17 profit formula selling price - cost 10 of 17 GDP gross domestic product: measures the total value of the production on an economy over a period of time, normally one year 11 of 17 mission statement sets out a business's overall purpose to direct and stimulate the entire organisation 12 of 17 private sector owned by shareholders or individuals 13 of 17 sole trader don't have to set up just declare profits to HMRC 14 of 17 incorporation the process of establishing a business as a separate legal identity that allows it to benefit form legal identity 15 of 17 market capitalisation the total value of the issued shares of a plc 16 of 17 privatisation when the government sells their business to shareholders or private individuals 17 of 17
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