the role of business enterprise Flashcards
1
Q
enterprise
A
business/person with the prupose of producing goods and services to meet the needs of customers.
2
Q
what businesses do:
A
- buy from suppliers
- carry out production
- sell to consumers
3
Q
customer:
A
a person or organistation that buys the product/service
4
Q
consumer:
A
the person that uses the product.
5
Q
adding value
A
a business can add value to their products by lowering variable costs or adding something that will make custimers willing to pay a higher price.
6
Q
ways to add value:
(BIG BUM)
A
- Better design
- Improved quality
- Greater speed of service
- Branding
- Usp
- More convenience
