The role of business enterprise 0.0 / 5 ? Business StudiesEnterprise and EntrepreneurshipGCSEEdexcel Created by: amber161202Created on: 14-04-19 16:09 Name a purpose of having a business? -customers benefit from choices -satisfy needs of consumers -make a profit 1 of 6 Name 3 methods of how to add value: -branding -quality -convenience -design -unique selling points 2 of 6 What can a business to to increase retained profits? -add value while keeping costs low 3 of 6 What 4 things does an entrepreneur need to provide a product? -capital, land, labour & enterprise 4 of 6 Define the term "capital": - man made resources (goods to produce other goods), money 5 of 6 Define the term "enterprise": -skills & characteristics to manage labour, land and capital and take risks 6 of 6
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