Business Unit 1
- Created by: megansykes
- Created on: 14-12-18 11:27
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- Unit 1 - What is business
- Chapter 1 - Understanding the nature and purpose of business
- Why businesses exist
- Relationship between mission and objectives
- Why businesses set objectives
- Common business objectives
- Measurement and importance of profit
- Chapter 2 - Understandingdifferent business forms
- Different forms of business
- Private Sector
- Role of shareholders and why they invest
- Influences on share price and the significance of share price changes
- Choosing a form of business and changing form in the private sector
- Effects of ownership on mission, objectives, decisions and performance
- Chapter 3 - Understanding that businesses operate within an external environment
- External environment
- Influence of the external environment on business costs and the demand for goods and services
- Costs and demand
- Competition
- Incomes
- Interest rates
- Demographic factors
- Environmentalissues and fair trade
- Chapter 1 - Understanding the nature and purpose of business
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