business framework

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  • Created by: amyling
  • Created on: 11-05-15 11:28
define enterprise
the process by which a new business is formed and new or innotive products/ services are brought to the market
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define entrepreneur
a person who has an idea which they develop by setting up an new business and encourage it to grow
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what are the four factors of production?
land, labour, capital and enterprise
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give three characteristics of an entrepeneur
focused, experienced, determined, confident
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what is a business objective
a measurable target helping to achieve the businesses aim
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what is a business aim?
a business aim is the long term goal of a business
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true or false?: a business will try to achieve more than one aim
true
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will a business aims change? why?
yes, so they have somethig to work towards
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whats a mission statement?
a brief summary of the main goals a business has
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define a srakeholder
an individual or organisation that has an interest or influence in a business
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give five examples of a stakeholder
customers, owners, workers, government, pressure groups, local commmunity, suppliers,banks
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are customers internal or external stakeholders
external
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are workers of a business such as employees or mangaers internal or external stakeholders
internal
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what are the owners/ shareholders main interests of a business
to make a profit
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how do owners/ shareholders influence a business?
they sell the products to customers
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Other cards in this set

Card 2

Front

define entrepreneur

Back

a person who has an idea which they develop by setting up an new business and encourage it to grow

Card 3

Front

what are the four factors of production?

Back

Preview of the front of card 3

Card 4

Front

give three characteristics of an entrepeneur

Back

Preview of the front of card 4

Card 5

Front

what is a business objective

Back

Preview of the front of card 5
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