Business
- Created by: Natasha Rachel Hammond
- Created on: 30-10-13 11:16
What is a business plan?
Set of documents, that you have to write before starting a business
1 of 28
Ideas for the contents of a business plan
The business idea, Market Research, Finance, Review of the market place etc
2 of 28
what can make a business successful?
Good amount of market research, good at planning, good with people
3 of 28
What is a entrepreneur?
An entrepreneur is someone who takes calculated risks to gain great results (profit)
4 of 28
5 things an entrepreneur needs to have a successful business
1. Makes good decisions, 2. knowledgeable, 3. organised, 4. Creative, 5. Good leader, 6. Takes risks, 7. Confident, 8. Honest
5 of 28
What's the 2 types of Market Research?
Priamry and Secondary
6 of 28
What is primary Research?
Research you collect yourself
7 of 28
what are 3 Positives of Primary Research?
1. easy to analyse, 2. Up to date, 3. More accurate
8 of 28
What are 2 negatives of Primary Research?
1. Expensive, 2. Takes longer
9 of 28
What are 3 types of Primary research?
1. Surveys, 2. Focus Groups, 3.Interviews, 4. Questionnaires etc
10 of 28
What is Secondary Research?
Information that has already been collected and published by others
11 of 28
What are 3 positives of Secondary research?
1. quicker, 2. easier, 3.cheaper, 4. wider range of information etc
12 of 28
What are 3 negatives of Secondary Research?
1. might not be up to date, 2. Might not be revelant to what you are looking for, 3. not easy to analyse
13 of 28
what are 3 types of Secondary Research?
1. internet, 2. books, 3. internal data
14 of 28
what are the 5 main questions business look at whilst doing market research?
1.how often do the customers need to buy the product? 2. what types of customers is the product aimed to? 3. would the public buy the product? 4. where will it be sold? 5. what price would it be?
15 of 28
What are the 3 types of business ownerships?
1. Sole proprietors, 2. partnerships, 3. companies
16 of 28
What is a sole Proprietor?
Someone who works by themselves
17 of 28
what are 5 positives of being a sole proprietor?
1. full control, 2 freedom, 3, accounts are private, 4. no extra costs or expenses, 5. get to keep all the profits to yourself
18 of 28
what are 5 negatives of being a sole proprietor?
1. long hours, 2. no sick days or hoildays, 3. might not have all skills needed. 4. hard to get known, 5. stressful
19 of 28
what is a partnership?
partnerships is when 2- 20 people are involved in the business
20 of 28
what are 3 positives of a partnership?
1. better income 2.more range of skills 3. less hours. 4. less stress
21 of 28
what are 3 negatives of a partnership?
1. shared profit 2. could differ in opinions 3. might not get everything you want
22 of 28
what comes after a companies name, that help people to idenify what type of company they are?
Ltd and Plc
23 of 28
what is Ltd?
Limited- Private limited company
24 of 28
how many people can own a Ltd company?
one person can own a Ltd company
25 of 28
what is a Plc?
Public limited company
26 of 28
how many people can own a Plc company?
minimum of 2 shareholders and 2 directors
27 of 28
How can people own a bit of a Plc company
the company is shared on a stock exchange, people buys parts of a company by shares
28 of 28
Other cards in this set
Card 2
Front
Ideas for the contents of a business plan
Back
The business idea, Market Research, Finance, Review of the market place etc
Card 3
Front
what can make a business successful?
Back
Card 4
Front
What is a entrepreneur?
Back
Card 5
Front
5 things an entrepreneur needs to have a successful business
Back
Related discussions on The Student Room
- Education »
- I want to start a business. Is corporate law or an economy degree more useful? »
- A level business, should I pick if it I plan on starting a business later on? »
- Investment Banking vs entrepreneurship »
- Starting my own business »
- Going to Uni / Starting a business »
- Entrepreneurship at Kingston University »
- Gcse edexcel business paper 2 - monday 12th june 2023 »
- Starting an online clothing business! »
- Degree advice for business ,marketing, economics »
Similar Business Studies resources:
1.0 / 5 based on 2 ratings
3.0 / 5 based on 2 ratings
2.0 / 5 based on 1 rating
0.0 / 5
0.0 / 5
1.0 / 5 based on 1 rating
0.0 / 5
0.0 / 5
0.0 / 5
1.0 / 5 based on 1 rating
Comments
Report
Report
Report
Report
Report
Report
Report
Report
Report
Report
Report
Report