Summary
Summary OCR a level business, Chapter 1
The first chapter of the OCR a level business course, covering the basic ideas about entrepreneurs, enterprises and the factors that can impact businesses.
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Seller
Follow
Content preview
enterprise easiness functionsenterprise another term for a business entrepreneur Mae and
refers to the actions a risk taker who starts theirownbusiness setemployed entrepreneur
of hardworking creative
diligent determined
Entrepreneur a risk taker who sets up their own business competent
confident
Leadershipsuites
to start own bones prep reliable happy totakerisk
and Self-Employed - Working for oneself as a freelancer o
ftp.t
etbiideefunete
nangYterideerge
the owner of a business rather than for an employer.
Entrepreneur - A person who organises and operates a
energyand
e ninusiasm
business or businesses, taking on greater than normal
Git
gkE's
Easiness
Persistenceand financial risks in order to do so.
drive
immediatesuccess
V is ununey
Factors of Production
I
mom
characteristics Boooooooooooooooooooooo
leadershipskills
eg motivationcommunication
to
essential achieve
a of an Abilitytowork
underpressure alone theinputs that are used in the production
committedproductive
andwithothers of goods or
services They are
workforce entrepreneur
resources egfieldsmineralscrop
firstfewyearsare
hard land that are
natural
r grownonit
7 labour allhumanresources
available exceptentrepren
whatevertheage skill leveloftheworker
beingtoombetocrotmable creativityand capital referstobuildings machineryandtools
with raise
personnaaitinannanacerism
imagination
notmoney
E.IE IItsiseess
eiaMait
b
hemp Years enterprise theentrepreneurwho organisestheothers
factor
factors of production are essentialinputsfor a
business ashortage of a particularfactor a
Factors is acostto the business az isnotgo
as it I profitmargin
valueAdded MMMffffy Businessescanrespond aprices but abilityto a
by
taunted thisdepends onbrandloyalty t marketcompetitio
Ean
what a business achieves byensuring that theprice trytoothercosts butcould bebadfor
suppliers
of the finishedgood or service is in excessof costs of
input
Means that the business cansell the product at a MP than
a restrainingfactor on a business
is concerned withaddingvalue involves acostthe
Entrepreneur
sotheycanmake a profit businessneeds to
environment
paydirectlyorindire
wood
egcanbe burnt sold as fuel
I
canbecut madeintotoy painted competition 1 TheBusiness I legislation
Production
oftoywouldhavehigheraddedvalue
I
economy
Paidby
business
costis o
passedon
consumer in
mtarggtit formofmp
department keepsdetailed
records of all productsmade a Emandmmotiatiantigngorwe Emptiesresponsible for wellbeing
sold cost ofgoods
allresponsibility and
soldandtaxdue because
of employees
costs this
ensuring
keptundercontrol
Tot Functions within a business Howton
resource tier
d
I monitors businesses
financial Management traini
t
1
sufficient fund timeand
I
t
win resyources
andifnee
todayrunningcosts sold sales this department
geygng.gg
iIIetgFg9owbsusiene8s
Accounting Finance employ
setsbudgets as
mannn
business operations and support by conductingmarket
services
ji
t production researtoHelp
management satisfy
I
Iroduction customers t
ofcapital equipment
stockcontrol quality
controland managing
I operations management
retiring to
controllingprocessof
designing t
Inane it as
is in s
outputs
Customer
make a profit
Adding value t
Production making sure
service
efficient as can be a part consumersareaware o
the product is part o
p influences
thepure f of marketing marketing
gfar
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller hgw7. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for £4.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy revision notes and other study material for 14 years now