business management

UNIT 1 SAC 2

business objectives

goals and aims of a business for example, to make a profit, to expand globally

4 mark questions

2 benefits 2 limitations unless question clearly states otherwise

sources of finance

internal and external sources

external sources

shorterm - bank overdraft bank bills trade credit

long term - mortgage, leasing, bank loans

internal sources

self funding, family or friends, private investors, shares, crowdfunding

types of businesses/ business structure

soul trader, private limited company public limited company, partnership, social enterprise, public limited company, government enterprise

business models

bricks and mortar, franchise, online, direct to consumer, import/export

business recourses

capitol, natural, labourla

labour

employees, staff ect

natural

paper, shelves, desks natural recourses ect

capitol

machinery

sole trader

one person who runs the business

partnership

2-20 owener and has joint liability

private company

2-50 shareholders primarily family owned

public company

has shares listed under asx and unlimited number or shareholders

purchasing an exsiting business pros

sales will be to exisiting customers, stocks already organised, existing employees

purchasing an exsiting business cons

customer dependancy on existing owners

business locations

shoppimg centre, shopping strips, online, homebased

business support services

legal and financial, community based, formal private, formal public

SWOT

strengths, weaknesses, opportunites, threats

CSR

corporate social responsibility

csr defenition

being environmental, ethically and socially responsible for your business aswell as the wellbeing of workers.

what to annotate

task word, amout of marks, any other task words important bolded words

stakeholder

A stakeholder has a vested interest in a company and can affect or be affected by its operations and performance