UNIT 1 What is business Flashcards
Business objectives o Measurement and importance of profit o Different forms of business; benefits and drawbacks o Role of shareholders o Influence on share price / significance of share price changes o Impact of the external environment on costs and demand
what is a mission statement
what are corporate objectives
what are functional objectives
what is revenue
what is fixed costs
what is variable costs
profit calculation
revenue calculation
total costs calculation
variable cost calculation
importance of profit (source of finance, reward for taking risks, not for profit)
importance of profit (motivate employees, sign of financial security, motivator of success)
what are sole traders
sole traders pros and cons
what are private limited companies
private limited companies pros and cons
what are public limited companies
public limited companies pros and cons
difference between private and public
influences on share prices
what are shareholders
market capitalisation calculation
how does external environment affect cost and demand
examples of pestle analysis
