Starting a Business 0.0 / 5 ? Business StudiesStarting a businessGCSEAQA Created by: andrew phillipsCreated on: 25-04-13 10:51 Business An organisation set up to provide goods or services to a customer. 1 of 15 Gap in the market A business oppurtinity that is either a completely new idea or adds something different to an existing product or service. 2 of 15 Entreprenaur An individual with an idea for a business. 3 of 15 Social enterprise An activity that achieves a reward for society. 4 of 15 Franchise The legal right to use the name and logo of an exisitng firm and sell the same products 5 of 15 Business Aim A started target for the future. 6 of 15 Growth An increase in turnover (sales) market share or profit. 7 of 15 Market share The proportion of market sales sold by the business. 8 of 15 Business objective A clearly defined target for a business to achieve over a period of time. 9 of 15 Profit What is left after costs have been deducted from revenue, profit=revenue-costs. 10 of 15 Profit margin Profit made as a proportion of markey revenue. 11 of 15 Sales Amount sold or units sold. 12 of 15 Customer satisfaction How happy the customer is with the product or service. 13 of 15 Revenue Theamount of money a businrss receivrs from selling goods or services. 14 of 15 Ethics The moral questions on which decisions are made and impact the business has on its internal and external environment. 15 of 15
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