Business Studies - Business and People 0.0 / 5 ? Business StudiesPeople in businessGCSEOCR Created by: Hendey.eCreated on: 20-09-16 17:37 The surplus of income over costs. Profit 1 of 19 Where there is demand, but no product to fill it. Gap in the market 2 of 19 Products Goods and services 3 of 19 Services Those things done to or for a customer 4 of 19 A person, group or organisation with a direct stake in the business. Stakeholder 5 of 19 Those with a direct interest in a business. Internal stakeholders 6 of 19 Owners of shares in the business Shareholders 7 of 19 Individuals, groups or other businesses that have a less direct stake in a business External stakeholders 8 of 19 Long term goals towards which a business can work Aims 9 of 19 Shorter term targets that can be measured Objectives 10 of 19 Statement of values and ambitions of a business that defines how it operates Mission statement 11 of 19 An organisation with social objectives, aimed at stakeholders such as members, customers and communities Social enterprise 12 of 19 A group that shares in a business to ensure a fair deal for members Co-operative 13 of 19 A society set up to provide benefit to its members Mutual society 14 of 19 A business that tries to do the most good for its chosen cause. Charity 15 of 19 The first stage in production, dealing with raw materials Primary production 16 of 19 The second stage in production, dealing with the making of goods Secondary production 17 of 19 The third stage of production, dealing with services Tertiary production 18 of 19 The stages of production through which a product passes, from primary to secondary to tertiary Chain of production 19 of 19
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