innovators - new ideas. Take risks, make key decisions, organise and set up the business
1 of 8
Sole trader
is a type of business owner who works alone. Receive all of the profits, have full control, use their own ideas.
2 of 8
Partnership
is an arrangement between 2 or more parties, known as partners. They share responsibility, share work work load, more investment, more ideas, "paid time off", easy to set up.
3 of 8
Limited liability
only what the owner has invested in the business is at risk.
4 of 8
Unlimited liability
the owners belongings are at risk as well as everything that they have invested into the company.
5 of 8
business objectives
are clearly defined targets that are set by management or business owners.
6 of 8
mission statement
sets out the purpose of the business to all its employers, shareholders and any other stakeholders. Give companies direction.
7 of 8
market share
the amount of costumers have in the market its operating.
8 of 8
Other cards in this set
Card 2
Front
is a type of business owner who works alone. Receive all of the profits, have full control, use their own ideas.
Back
Sole trader
Card 3
Front
is an arrangement between 2 or more parties, known as partners. They share responsibility, share work work load, more investment, more ideas, "paid time off", easy to set up.
Back
Card 4
Front
only what the owner has invested in the business is at risk.
Back
Card 5
Front
the owners belongings are at risk as well as everything that they have invested into the company.
Comments
No comments have yet been made