Social objectives, personal satisfaction, challenge, independence and control.
14 of 23
Why is cash important to the business?
To pay suppliers, overheads and employees. To prevent business failure (insolvency).
15 of 23
Give examples of short-term sources of finance.
Overdraft and trade credit
16 of 23
Give examples of long-term sources of finance.
Personal savings, venture capital, share capital, loans, retained profit and crowdfunding.
17 of 23
What are types of business ownership for start-ups?
Sole trader, partnership, private limited company, franchise.
18 of 23
What are factors influencing business location?
Proximity to market, labour, materials and competitors. Nature of the business activity. The impact of the Internet on local decisions (e-commerce and/or fixed premises).
19 of 23
What are the four elements of the marketing mix?
Product, price, place, promotion.
20 of 23
Give examples of stakeholders.
Shareholders (owners), employees, customers, managers, suppliers, the local community, pressure groups, the government.
21 of 23
Give examples of the different types of technology used by businesses.
E-commerce, social media, digital communication, payment systems.
22 of 23
Give examples of external influences on businesses.
Technology, legislation, the economic climate.
23 of 23
Other cards in this set
Card 2
Front
HOW do new business ideas come about?
Back
Original ideas. Adapting existing products/services/ideas.
Card 3
Front
What are examples of risks in business?
Back
Card 4
Front
What are examples of reward in business?
Back
Card 5
Front
What is the role and purpose of business enterprise and activity?
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