What is a business Section 1

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What are the advantages of owning a business?
1.Make a profit 2. Own boss 3.Hobbies/ interest
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What does a mission statement tell you?
About the business' intentions and aims
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What does SMART mean?
Specific, Measurable,Agreed, Realistic, Timely
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What are the 4 types of objectives?
Profit, Growth, Survival and cash flow
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What is the difference between the public and private sector?
Public is ran by the Government and private is owned by private individuals
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What is the difference between unlimited and limited liability?
Unlimited responsible for debts, owners belongings at risk, limited owners aren't responsible for debts only risk losing the amount they put into the business
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What are the differences between private and public limited companies?
Private cant sell shares on the stock exchange
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What business is a PLC?
Public limited companies
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Why do share holders invest in business's?
1.Capital gain 2.Dividends 3.Involved in running a business 4.Believe in the aims/ objectives of the business 5.Help the business to survive/grow
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Why might share prices change?
Performance of the company, interest rates,economy, reputation
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What external factors affect costs and demand?
Political, labour supply, incomes, economic factors, seasonal demand and supply
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Other cards in this set

Card 2

Front

What does a mission statement tell you?

Back

About the business' intentions and aims

Card 3

Front

What does SMART mean?

Back

Preview of the front of card 3

Card 4

Front

What are the 4 types of objectives?

Back

Preview of the front of card 4

Card 5

Front

What is the difference between the public and private sector?

Back

Preview of the front of card 5
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