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Business

GCSE · OCR

QuestionsFlashcards

1.1 Business Enterprise & Entrepreneurship
- The Purpose of Business Activity
  8
- The Nature of Enterprise
  11
1.2 Business Planning
- Why Write a Business Plan?
  4
- The Business Plan
  10
1.3 Business Ownership
1.4 Business Aims & Objectives
- Aims & Objectives
  8
- Changing & Differing Objectives
  6
1.5 Stakeholders in Business
- Stakeholders
  9
- Stakeholder Considerations
  12
1.6 Business Growth
- Organic Growth
  6
- External Growth
  12

3.1 The Role of Human Resources
3.2a Organisational Structures
- Different Organisational Structures
  10
- Organisation Charts
  8
3.2b Different Ways of Working
3.3 Communication in Business
3.4 Recruitment & Selection
3.5 Motivation & Retention
3.6 Training & Development
- Training & Development Methods
  15
- The Importance of Training & Development
  13
3.7 Employment Law

4.1 Production Processes
- Methods of Production
  15
- Technology in Production
  10
4.2 Quality of Goods & Services
- Quality
  9
- Methods of Ensuring Quality
  10
4.3 The Sales Process & Customer Service
- The Sales Process
  16
- Customer Service
  11
4.4 Consumer Law
4.5 Business Location
4.6 Working with Suppliers
- Procurement
  9
- Logistics & Supply Decisions
  9

5.1 The Role of Finance
5.2 Sources of Finance
- Financing Business Activity
  14
- Choosing Appropriate Sources of Finance
  24
5.3 Revenue, Costs, Profit & Loss
5.4 Break-Even
- The Importance of Break-Even
  7
- Using Break-Even
  2
5.5 Cash & Cash Flow
- The Importance of Cash
  10
- Cash Flow Forecasting
  15

6.1 Ethical & Environmental Considerations
- Ethical Considerations
  16
- Environmental Considerations
  15
6.2 The Economic Climate
6.3 Globalisation

The Purpose of Business Activity Flashcards

All 8 cards in this deck

What is a business?: An organisation that produces goods or supplies services to meet the needs and wants of customers.
What is meant by enterprise?: The activity of seeing a chance to make money from a new idea and taking the risk to make it happen, whether by setting up a new business or by developing an existing one.
How can changes in what consumers want lead to new business ideas?: Existing products may no longer meet customer needs, so an entrepreneur spots a new business opportunity in the market.
How can changes in technology lead to new business ideas?: Technology allows new products to be created, and entrepreneurs then look to create demand for the new product.
What are the three parts of the purpose of business activity and enterprise?: Spotting an opportunity, developing an idea for a business, and satisfying the needs of customers.
What does 'spotting an opportunity' mean for an entrepreneur?: Noticing a gap in the market or an unmet customer need that a new product or service could satisfy.
Give one benefit to a business of satisfying its customers' needs.: Customers buy again (repeat custom), so sales and revenue rise.
Give one way an entrepreneur can develop an idea into a business.: Improve the idea by trialling prototypes and gathering customer feedback before launch.