3. Enerprise, Growth and Size Flashcards
0
Q
What is in a business plan?
A
Products sold, cash flow, business costs, location, required resources, etc.
1
Q
What are the characteristics of an entrepreneur?
A
Hard-working, risk-taking, creative, optimistic, self-confident, innovative, independent, effective communicator, etc.
2
Q
How can business be compared?
A
No. of employees, output, sales value, capital employed
3
Q
What are the three types of takeover?
A
- Horizontal merger (same industry and same stage of production)
- Vertical merger (same industry, different stage of production)
- Conglomerate merger (different industry)
4
Q
Why do businesses fail? (5)
A
- Poor management
- Failure to plan for change
- Bad financial management
- Over-expansion
- Risk in business startup
