Business - Understanding Business

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243 Terms

1
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role of a business
2
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needs and wants
3
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goods and services
4
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the business cycle
5
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factors of production
6
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factors of production - land
7
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factors of production - labour
8
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factors of production - enterprise
9
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factors of production - capital
10
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wealth creation
11
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roles of entreprenuers
12
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skills of entrepreneurs
13
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qualities of entrepreneurs
14
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sectors of industry
15
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sectors of industry - primary sector
16
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sectors of industry - secondary sector
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sectors of industry - tertiary sector
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sectors of industry - quaternary sector
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de-industrialisation in the uk
20
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industrialised countries
21
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sectors of economy
22
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sectors of economy - private sector
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sectors of economy - third sector
24
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sectors of economy - public sector
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private sector - sole traders
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private sector - benefits of sole traders
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private sector - costs of sole traders
28
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liability
29
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private sector - partnerships
30
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private sector - benefits of partnerships
31
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private sector - costs of partnerships
32
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private sector - private limited companies (LTD)
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private sector - benefits of private limited companies (LTD)
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private sector - costs of private limited companies (LTD)
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private sector - public limited companies (PLC)
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private sector - benefits of public limited companies (PLC)
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private sector - costs of public limited companies (PLC)
38
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franchises
39
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multinational organisations
40
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reasons to become a multinational organisation
41
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benefits of multinational organisations
42
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costs of multinational organisations
43
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types of economies
44
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types of economies - purchasing economies
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types of economies - economies of scale
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types of economies - technical economies
47
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public sector of the economy - local government
48
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public sector of the economy - central government
49
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third sector of the economy - charities
50
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third sector of the economy - voluntary
51
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third sector of the economy - social enterprises
52
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third sector of the economy - types of social enterprises
53
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third sector of the economy - benefits of social enterprises
54
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third sector of the economy - co-operatives
55
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third sector of the economy - mutuals
56
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examples of good customer service
57
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benefits of good customer service
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consequences of poor customer service
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business objectives
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mission statements
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business objectives - survival
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business objectives - profit
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business objectives - provision of a service
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business objectives - customer satisfaction
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business objectives - enterprise
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business objectives - social responsibility
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business objectives - market share
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business objectives - corporate social responsibility (CSR)
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policies and strategies of CSR
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business objectives - profit maximisation
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business objectives - satisficing
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business objectives - managerial objectives
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business objectives - growth
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stock market
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companies act
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shareholders
77
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board of directors
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annual accounts
79
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growth
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reasons a business aims to grow
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benefits of economies of scale
82
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advantages of growth
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methods of growth
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organic/internal growth
85
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methods of organic/internal growth
86
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benefits of organic/internal growth
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costs of organic/internal growth
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horizontal growth
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benefits of horizontal growth
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costs of horizontal growth
91
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vertical growth
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backward vertical growth
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benefits of backward vertical growth
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costs of backward vertical growth
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forward vertical growth
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benefits of forward vertical growth
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costs of forward vertical growth
98
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lateral growth
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benefits of lateral growth
100
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costs of lateral growth