The Role Of Business Enterprice Flashcards
1
Q
What is the role of enterprise/purpose of business activity?
A
- To produce goods, or service
- To meet customer needs
- To add value
2
Q
What is the definition of Adding Value?
A
The difference between the cost of materials and the selling price.
3
Q
Give 5 ways to add value
A
Convenience, branding, quality, design, unique selling point (USP)
4
Q
Give 3 roles of entrepreneurs
A
Organises resources, makes business decisions, takes risks
5
Q
What is an entrepreneur?
A
An entrepreneur is a risk taker who wants to create an organisation that can make a difference.
