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GCSE Business > 1.3 > Flashcards

1.3 Flashcards

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1
Q

Definition of aims?

A

Aims are the strategic, long - term goals of a business

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2
Q

Definition of objectives?

A

Objectives are specific targets of a business/department. They ought to be ‘smart’

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3
Q

What does ‘smart’ in smart objectives stand for?

A

Specific
Measurable
Attainable
Relevant
Time-bound

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4
Q

what are 5 financial objectives?

A

Survival
Profit
Sales
Market share
Financial security

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5
Q

What are 5 non financial objectives?

A

Social objectives
Personal satisfaction
Challenge
Independence
Control

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6
Q

What are the sources of short term finance for small businesses?

A

Overdraft
Trade credit

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7
Q

What are the sources of long term finance for small businesses?

A

Bank loan
Personal savings
Share capital
Venture capital
Retained profit
Crowd funding

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8
Q

See calculation deck for calculation questions of cash flow etc

A
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GCSE Business (11 decks)

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