business revision flashcards

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globalisation
Globalisation is the trend of increasing interaction between people or companies on a worldwide scale due to advances in transportation and communication technology, normally beginning
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technology
The role of technology in business caused a tremendous growth in trade and commerce. Business concepts and models were revolutionised as a result of the introduction of technology.
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legislation
Legislation is law which has been promulgated by a legislature or other governing body or the process of making it.
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The economic environment on business
The economic environment consists of external factors in a business market and the broader economy that can influence a business. You can divide the economic environment into the micro economy environment, which affects business decision making
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competitive environment
A competitive environment is the dynamic external system in which a business competes and functions. The more sellers of a similar product or service, the more competitive the environment in which you compete.
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stakeholders
A stakeholder is a party that has an interest in a company and can either affect or be affected by the business. The primary stakeholders in a typical corporation are its investors, employees, customers and suppliers.
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Business ownership
For many new businesses, the best initial ownership structure is either a sole proprietorship or -- if more than one owner is involved -- a partnership. A sole proprietorship is a one-person business that is not registered with the state like a limit
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business location
Location is the place where a firm decides to site its operations. Location decisions can have a big impact on costs and revenues. A business needs to decide on the best location taking into account factors such as: Customers - is the location conven
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Setting up business aims and objectives
An aim is where the business wants to go in the future, its goals. It is a statement of purpose,
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The purpose and nature of business
The purpose of Business Activity. Basically, all humans have needs and wants. ... Businesses produce goods and services to satisfy needs and wants.
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Other cards in this set

Card 2

Front

The role of technology in business caused a tremendous growth in trade and commerce. Business concepts and models were revolutionised as a result of the introduction of technology.

Back

technology

Card 3

Front

Legislation is law which has been promulgated by a legislature or other governing body or the process of making it.

Back

Preview of the back of card 3

Card 4

Front

The economic environment consists of external factors in a business market and the broader economy that can influence a business. You can divide the economic environment into the micro economy environment, which affects business decision making

Back

Preview of the back of card 4

Card 5

Front

A competitive environment is the dynamic external system in which a business competes and functions. The more sellers of a similar product or service, the more competitive the environment in which you compete.

Back

Preview of the back of card 5
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