1
Q
what are the two meanings of the word “enterprise”
A
- a business
2. describes a risk taker e.g. “an enterprising individual”
2
Q
name some characteristics of an entrepreneur?
A
diligent hard working confidence and self-belief leadership skills energy and enthusiasm
3
Q
what are the benefits to a firm of having an entrepreneur?
A
more likely to be profitable
more likely to reach objectives
Business
flashcards
Decks in class (101)
# Cards
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Enterprise3
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business sectors4
-
types of businesses14
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franchisor and franchisee7
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business functions5
-
business size or growth4
-
different stakeholders and business objectives0
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stakeholders0
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mission statements1
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corporate and social responsibility13
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strategy and implementation11
-
business plan]0
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risk and uncertainty5
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opportunity cost1
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contingency planning and crisis management and plan- do - review6
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models of strategic choice0
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financial and non-financial measures of performance0
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forecasting0
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decision making4
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decision tree's5
-
ansoff's matrix5
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conflicts in making business decisions0
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the market - market size and growth13
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demand and supply14
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Porters Five Forces8
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physical and non-physical markets0
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competition0
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market dominance0
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global context6
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international trade and free trade7
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European union9
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emerging markets3
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political factos0
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economic factors12
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social factors0
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technological factors0
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the digital revolution0
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ethical factors0
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legal factors0
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environmental factors0
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external factors and influences0
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causes and effects of change0
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managing change8
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accounting and finance objectives0
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sourcing finance0
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accounting concepts13
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cost, revenue, profit8
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break even analysis8
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investment appraisal6
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budget and variences0
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cash flow0
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working capital0
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income statement0
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statement of financial position0
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ratio analysis40
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external influences of accounting and finance0
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the strategy0
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human resource management objectives2
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organisation11
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communication3
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workforce planning0
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recruitment0
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selection0
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training0
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appraisal and workforce performance0
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redundancy and dismissal0
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functions of management0
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leadership5
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motivation8
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employee/ employer relations0
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external influences on HR management0
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the strategy0
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marketing objectives0
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marketing resources0
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identifying customer needs0
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anticipating customer needs0
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customers and consumers0
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product life cycle and boston matrix5
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marketing mix0
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product0
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price0
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place0
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promotion0
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service marketing0
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external influences on marketing0
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the strategy0
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operations management objectives2
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added value0
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innovation, research and development3
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methods of production13
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services0
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project management5
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productivity0
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economies and diseconomies of scale16
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capacity utilisation11
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stock control7
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lean management0
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internal and external quality standards7
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logistics and locations21
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external influences on operations management0
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the strategy0
