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Summary OCR, A LEVEL BUSINESS STUDIES, ALL CHAPTERS SUMMARISED! £10.49
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  7. AS Unit F291 - An introduction to Business

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Summary OCR, A LEVEL BUSINESS STUDIES, ALL CHAPTERS SUMMARISED!

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  • OCR

Summary of EVERYTHING in the OCR A Level business studies textbook (notes written in 2018). Clear, easy to follow slides. Includes diagrams, (dis)advantages tables, maths formulas I GOT AN 'A' USING THIS

Last document update: 6 year ago

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  • Yes
  • September 4, 2018
  • September 4, 2018
  • 249
  • 2017/2018
  • Summary

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Enterprise
• Entrepreneur:
- Risk taker who sets up a business (Creative, Leader, Persistent, Confident)
- Successful Entrepreneur means stakeholders objectives are met (better pay/conditions, suppliers will r
regular orders)
- Successful Entrepreneur is good for Economy/Government: exports help improve UK Trade Balance, m
• Enterprise:
- Another term for a business
- Actions of a entrepreneur
• Factors of production:
- Inputs used in the production of goods/services
- Land (Natural resources), Labour (Human resources), Capital (machinery, tools) , Enterprise (Owner)
- Shortage of a factor = its price will rise (costs go up, so business could look for alternative or lower othe
otherwise stakeholders could be affected)
• Adding Value:
- What a business achieves by ensuring price of finished good exceeds the cost of inputs
- Done by manufacturing raw material into a product, or creating brand image

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