Unit 1 Revision
business objectives
suvival
profit maximisation
sales maximisation
profit satisfising
market share
cost of efficiency
employee welfare
customer satisaction
social
to exist as a business
to produce a level of output where the surpluss of the revenue is of the total costs at its highest
the propoortion of the total market sales that the business has in the market
business sales / market sales x 100
lookafter the ecomonic and physical wellbeing of the workforce
behave in a way whic is responisble and does not harm the community but benefits it,
highest ammount of sales possible either by volume or value
making enough profit to be satisfited but not purely motivated by it
making the highest ammount of output with the least ammount of input
to ensure the goods are to the right standard that the consumer is satisfied with.
business structures
franchises
joint ventures
COOPS
where the business is managed, maintained adn ran by the members.
entrepeneurs
the members could be
customers
manages
suppliers
work force
where a business allowes the franchisee to use its trademarks and structures to duplicate the business
where two businesses join together to make a new business idea, both taking equal shares in risk and reward
click to edit