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698922
Starting a Business
Descrição
GCSE Business Studies (Unit 1) Mapa Mental sobre Starting a Business, criado por lizzie.jesson em 31-03-2014.
Sem etiquetas
business studies
gcse
unit 1
business studies
unit 1
gcse
Mapa Mental por
lizzie.jesson
, atualizado more than 1 year ago
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Criado por
lizzie.jesson
mais de 10 anos atrás
147
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Resumo de Recurso
Starting a Business
SET UP BECAUSE...
financial
personal
to help others
enterprise
AIMS
to survive
to make a profit
to expand
ENTERPRISE
example; charity
helping another business
SOLE TRADER
ADVANTAGES
easy to set up
be your own boss
can decide what happens to the profit
DISADVANTAGES
long hours
unlimited liability
have to sell everything you owe, if the business goes into debt
PARTNERSHIP
2-20 PARTNERS
ADVANTAGES
more owners, more skills
more capital can be put into the business
DISADVANTAGES
each partner is legally responsible for what the others do
unlimited liablility
more arguements
Ltd
Limited Liabitily
Shares can only be sold to friends and family
ADVANTAGES
Cant lose more than the business invests
DISADVANTAGES
more expensive
have to publish accounts every year
FRANCHISES
example; McDonalds
FRANCHISING
other companies can use your name
FRANCHISORS
the firm selling the products = FRANCHISEE
ADVANTAGES
buying the right to use the name
promoting the business quicker
increases market share, increases size of the firm
DISADVANTAGES
only be able to sell the companies products
have to run the business according to the fRANCHISOR
poor standards = bad reputation
AIMS, OBJECTIVES AND BUSINESS SUCCESS
SURVIVE
PROFIT
MARKET SHARE
CUSTOMER SATISFACTION
OBJECTIVES
short term aims
more specific
need to be sustained
can show if the business is successful or not
businesses compare their objectives with performance.
STAKEHOLDERS
anyone effected by the business
internal
inside the firm
employees
owners
external
outside the firm
customers
suppliers
locals
EMLOYEES
want job security
want decent wages, good working conditions
want promotion prospects
SUPPLIERS
business gives them an income
benefit the most when objectives are about growth
LOCALS
provide good jobs
sponser local activities
CUSTOMERS
want high quality - low prices
BUSINESS PLAN
outline of what the business will do, and how
can convince banks for a loan
can show if this is a bad idea or not
7 sections
personal details
mission statement
objectives
product description
product details
staff requirements
finance
LOCATION
location of raw materials (suppliers)
close as possible
lower delivery costs
labour supply
near high unemployment
location
close/near to competitors
GOOD COMMUNICATION
telephone etc
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