Business studies Unit 1 part 1

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Two reason why someone might start a business?
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1 of 25
Do charities aim to make profit?
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2 of 25
What is a social enterprise?
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3 of 25
What is meant by calculated risk?
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4 of 25
Five qualities an entrepreneur is likely to have?
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5 of 25
What are the problems of being a sole trader and what is meant by the term sole trader?
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6 of 25
What does a sole trader gain and lose if it becomes a partnership?
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7 of 25
If you own a part of a business and the business goes bankrupt would you rather have limited or unlimited liability?why?
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8 of 25
Why do limited companies have to separate legal identity and what does it mean?
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9 of 25
What is franchise
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10 of 25
two benefits of franchising for the franchisee?
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11 of 25
two disadvantages of franchising for the franchisee?
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12 of 25
List 7 types of business aims:
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13 of 25
Difference between business aim and business objective?
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14 of 25
How can a business use numerical targets to asses it's performance over a year?
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15 of 25
How can business determine whether it's met it's objective for being ethical?
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16 of 25
What is a stakeholder?
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17 of 25
Two internal stakeholders? Two external stakeholders?
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18 of 25
Why might shareholders of a business and consumers have different opinions about how successful the business is?
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19 of 25
Who are the most important stakeholders and why?
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20 of 25
What is the purpose of a business plan?
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21 of 25
What should be included in a business plan?
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22 of 25
Why isn't a good business plan a guarantee of success?
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23 of 25
Why might some firms choose to locate production closer to their raw materials than their customers?
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24 of 25
Four other factors that need to be considered when choosing a business location?
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25 of 25

Other cards in this set

Card 2

Front

Do charities aim to make profit?

Back

g

Card 3

Front

What is a social enterprise?

Back

Preview of the front of card 3

Card 4

Front

What is meant by calculated risk?

Back

Preview of the front of card 4

Card 5

Front

Five qualities an entrepreneur is likely to have?

Back

Preview of the front of card 5
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