Business studies chapter 3 definitions.

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  • Created by: Anusha5
  • Created on: 22-02-16 07:57
Entrepreneur
An individual who has an idea for a business and takes the financial risk of running it.
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Business plan
A detailed written document which consists of the aims of the business, about the entrepreneur and financial forecasts which can be used to persuade investors to finance a proposal.
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revenue
the amount a business earns from the sales of its products.
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Business start-up
A newly formed business which usually starts out small but can grow to be large
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internal growth
occurs when a business expands by increasing output, offering new goods, and changing the market.
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Horizontal integration
when a business grows by merging with an another firm in the same industry and same sector of production.
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forward vertical integration
when two firms in the same industry come together, but one is a customer of the other.
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backward vertical integration
when two firms in the same industry come together but one is the supplier of the other.
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conglomerate integration
when two firms of completely different industries come together.
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Card 2

Front

A detailed written document which consists of the aims of the business, about the entrepreneur and financial forecasts which can be used to persuade investors to finance a proposal.

Back

Business plan

Card 3

Front

the amount a business earns from the sales of its products.

Back

Preview of the back of card 3

Card 4

Front

A newly formed business which usually starts out small but can grow to be large

Back

Preview of the back of card 4

Card 5

Front

occurs when a business expands by increasing output, offering new goods, and changing the market.

Back

Preview of the back of card 5
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