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450012
Understanding Business
Descrição
national 5 Business (Understanding Business) Mapa Mental sobre Understanding Business, criado por hollyemmakerr em 19-12-2013.
Sem etiquetas
business
national 5
understanding business
business
understanding business
Mapa Mental por
hollyemmakerr
, atualizado more than 1 year ago
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Criado por
hollyemmakerr
quase 11 anos atrás
75
1
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Resumo de Recurso
Understanding Business
Sectors of Industry
Primary
take raw materials from the ground eg farming, fishing, mining
Tertiary
provide a service eg hairdressers, hotel
Secondary
use raw materials and make something with them eg builder, cake baker
Types of Businesses
Sole Trader
Anotações:
Owned and controlled by one person All the profits kept by owner No one to share responsibility
Parternership
Anotações:
Owned by 2-20 people Ran by partners Workload can be shared Profit needs to be split
Private Limited Companies
Anotações:
Owned by shareholders Ran by Board of Directors eg Fly High Travel Ltd
Sectors of the Economy
Private Sector
owned by individuals
aim to make a profit
Public Sector
owned by the government on behalf of taxpayer
funded by taxes
eg hospitals, schools
Objectives
an objective is an AIM, a TARGET or a GOAL the business wants to acheive
survival
to continue trading
Anotações:
*this is the first objective a business has
profit
more income than costs
Anotações:
*Main objective of any business in the private sector
customer satisfaction
to make customers happy, encourage repeat custom
high quality
trained employees
Anotações:
employees who are knowledgeable about products=able to handle queeries=happy customers
customer care strategy
customer complaints procedure
Anotações:
aims to make sure complaints are handled best way possible
after sales service
Anotações:
gives customers opportunity to ask questions about their purchase
social responsibility
provide people with a service they want
Anotações:
Eg a local government might aim to provide children with the best education at school
help businesses FOCUS on what its doing
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