3.1

Question 1

Business objectives

Answer 1

Profit
Growth
Survival
Cash flow
Social and ethical objectives

Question 2

Mission and objectives

Answer 2

Mission - describe main focus and purpose

Objectives -. Measurable goals that move towards the mission

Question 3

Sole traders

Answer 3

Owned by one person with full control

Question 4

Market capitalisation

Answer 4

Value of total shares issued

Question 5

PESSTLE

Answer 5

Political
Environmental
Social
Technological
Legal
Economical

Factors

Question 6

Non profit organisation’s

Answer 6

Charities
Hospitals
Universities

Question 7

Liability

Answer 7

Unlimited -business owners personally responsible for the debts and liabilities
( partnerships and sole traders)

Limited - shareholders can only lose the value of the investment (LTd PLC)

Question 8

Partnerships

Answer 8

Arrangement between two or more people to oversee business operations

Question 9

Factors influencing cost and demand

Answer 9

Competition
Market conditions
PESTLE
Incomes

Question 10

Matrix

Answer 10

Where people within a busienss come together from different areas of the business to complete a project and dispand afterwards

Question 11

Tall and flat structure

Answer 11

Tall- a lot of layers of management narrow span

Flat - low level of management heirachy wide span