Year 10 Business (Business Activity and influences on a business (Sole…
Year 10 Business
Business Activity and influences on a business
Increase market share
Sole Traders, Franchises, Partnerships and Social Enterprises
A sole trader is a business owned by a single person. This business has unlimited liability, this means that the person that owns the business is responsible for all business debts.
A franchise occurs when a business, the franchisor, allows another operator, the franchisee, to trade under their name. A franchisor is the owner of the franchise name and the franchisee is the person running their own franchise.
A partnership exist when between 2 and 20 people own a business together. the owners will share responsibility of running the business and they also share the profits. Professions such as accountants, doctors, estate agents and solicitors are often partnerships.
People in business
Methods of communication
Face to face communication
Lack of clarity
Poor communication skills
Long chain of command
Using the wrong medium