Topic 1.3 REVISION Flashcards
1
Q
AIM
A
Strategic goals
Long term goal
2
Q
OBJECTIVE
A
Specific steps
Short-term goals
3
Q
Types of aims
A
- —>Financial aims
- —>Non-financial aims
4
Q
Examples of financial aims
A
- Profit
- Survival
- Market share
- Sales
- Financial security
5
Q
Examples of non-financial aims
A
- Control
- Independence
- Challenge
- Personal satisfaction
- Social objectives
6
Q
Sources of finance
A
- —>Internal
- —>External
7
Q
Internal sources of finance
A
Funds found inside business examples: -Own savings -Friends and family -Retained profit(profit from a previous business)
8
Q
External sources of finance
A
Funds found outside the business examples: -Bank -Business angels -Grant -Crowd funding -Trade credit -Venture capital -Share capital
9
Q
Who sets the interest rates?
A
THE NATIONAL BANK OF ENGLAND
10
Q
Where do u get grant from?
A
From the government
11
Q
What is crowd funding?
A
