Business Environment Flashcards
what is a stakeholder
Any individual or group with an interest in the success of the business
name all 8 stakeholders
Owners Managers Employees Customers Community Suppliers Competitors Government
what is ethics in business
Where a company decides and acts in a morally correct way not necessarily the most profitable way
what are the disadvantages of a business being unethical
Bad publicity
what is a pressure group
Group of people that try to influence the decisions of a business
what is a social cost
negative impact of the businesses environmental activity
what is a social benefit
positive impact of the businesses environmental activity
give three incentives the government can offer businesses
grants
loans
tax breaks
what can a rise in demand lead to
price increase
what can a rise in demand lead to
price decrease
what 5 factors does the location of the business depend upon
Customers Staff Suppliers Competitors Cost
what is a grant
Money governments can give money to businesses they don’t have to repay
what is a tax break
Governments allow businesses to be exempt from paying tax for a certain period of time
what is interest rate
percentage rate charged on a loan or paid on savings
what three things do expect the government to do for the economy
low unemployment
low prices
economic growth
