GCSE Business

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Primary Sector.
Extracting raw materials e.g cocoa beans.
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Secondary sector.
Raw materials turned into a product e.g a chocolate bar.
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Tertiary Sector.
Selling the product e.g shops.
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What is the chain of production?
The steps that need to be taken in order to transform raw materials into goods.
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Interdependence.
The chain of production shows interdependence, because everybody relies on eachother.
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Specialisation.
Where a business or area focuses on the production of a limted of products to get better at the job and gain more experience to create better products.
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Division of Labour.
People are split off to different caterogies that they are good to improve efficiency and to get better at the job.
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Why is the primary sector declining?
There is more machinery and raw materials are running out.
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Why is the secondary sector decling?
There is more machinery.
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Why is the tertiary sector growing?
There has been an increase in population and people earn more income so they have more money to spend.
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Named Examples of Businesses that have declined.
Morisions have declined because of the drop to drop sales. Netto got closed down due to the finance and people werent intrested doing their shopping there.
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What is a mission statement?
A formal summary of aims and values of a company.
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Three named examples of mission statements.
Cancer Research: Their aim is to help people with cance and beat cancer. Lidl: To provide everyday necessities ofr people and to provide customern satisfacion. Lamborghini: To build GT cars without problems.
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Three examples of businesses aims.
Expecation, acheivement and aspiration and all round education.
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What is an objective?
A goal that a company want to make e.g Barclays want to be known around the world.
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What is a smart objective?
S:pecific. M:easurable. A:chieveable. R:ealistic. T:imed
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What is a private sector?
A business owned by private individuals and their aims are for profit and growth and their reasons for their aims are can be livelihood for some returns for investors. For examples: Tesco, Alton Towers and Virgin.
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What is a public sector?
A public sector is all businesses that are owned by the goverment and their aims are provuiding a good service and their reasons for their aims are: use tax payers to run services so cannot make a profit. For examples: Ellowes, NHS and BBC.
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What is a aim?
Long term goal.
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Why are aims set?
They are set because they motivate staff, track progress and communication.
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Why do aims change?
They changed because there may be a new management and they may also already acheived those aims.
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What is a social enterprise?
They promote a cause and private a free service and there aims are to raise money in order to provide a service and the reasons for their aims are to help other in need and improve society. For example: teenage cancer trust, natioanl trust and oxfam.
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Properties of a business.
Survival: Businesses want to survive within their year, they arent concerned about making a profit. Profit: once established, busimnesses want to start making profits so that they can keep them or reinvest them. Growth: Businesses want to expand.
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Other cards in this set

Card 2

Front

Secondary sector.

Back

Raw materials turned into a product e.g a chocolate bar.

Card 3

Front

Tertiary Sector.

Back

Preview of the front of card 3

Card 4

Front

What is the chain of production?

Back

Preview of the front of card 4

Card 5

Front

Interdependence.

Back

Preview of the front of card 5
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