Key Terms 0.0 / 5 ? Business StudiesGCSEAQA Created by: Jake Slade-GodefroyCreated on: 25-04-13 10:28 Business An activity that requires the organisation of resources to achieve a reward, whilst running a risk 1 of 8 Entrepreneur An individual with an idea for a business 2 of 8 Social enterprise An activity that achieves a reward for society 3 of 8 Gaps in the market a business oppurtunity that is either a completely new idea or adds something different to an existing product or service 4 of 8 Franchise The legal right to use the name and logo of an existing firm and sell the same products 5 of 8 Business aim A stated target for the future, for example, a new business may have the aim to survive its first year of trading 6 of 8 Business objective A clearly defined target for a business to achieve over a certain period of time 7 of 8 Growth An increase in turnover (sales) 8 of 8
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