1.1c The Role Of A Business Enterprise Flashcards
1
Q
Define the term ‘ stakeholder ‘
A
Anyone who has an interest in the activities of a business , such as its workers , it’s suppliers , it’s local community etc.
2
Q
State the three purposes of business activities
A
- product goods and services
- meet customer needs
- to add value
3
Q
How can value be added to a product ?
A
- branding
- convenience
- quality and design
- unique selling points ( USPs )
4
Q
What is ‘ adding value ‘ ?
A
Increasing a products value as a result of a business producing that product
