Consumer goods

Consumer services

The Factors of Production

Capital Goods

Creating Value

Added Value

The economic problem

Opportunity Cost

Entrepreneur

Social Enterprise

Triple Bottom Line

Primary sector business activity

Secondary sector business activity

Tertiary sector business activity

Public sector

Private Sector

Mixed Economy

Free- market economy

Command Economy

Sole trader

Advantages of sole trader organizations

Disadvantages of Sole Trader organizations

Partnership

Advantages of Partnerships

Disadvantages of Partnerships

Limited Liability

Private Limited Company

Advantages of Ltd's

Disadvantages of Ltd's

Share

Shareholder

Public Limited Company

Documents needed to set up a company in the UK

Memorandum of Association

Articles of Association

Advantages of Plc's

Disadvantages of Plc's

Features common to all cooperatives

Potential drawbacks of cooperatives

Franchise

Benefits of Franchises

Drawbacks of franchises

Joint Venture

Benefits of Joint Ventures

Drawbacks of Joint Ventures

Holding Companies

Public corporation

Advantages of public corporations

Disadvantages of public corporations

Different measures of business size

Revenue

Capital Employed

Market Capitalization

(definition & formula)

Market Share

(definition & formula)

Benefits of encouraging small business units

Loan Guarantee Scheme

Strength of Family Businesses

Weaknesses of Familly Businesses

Reasons for Business Growth

Internal Growth

What are SMART objectives

Hierarchy of Objectives

Benefits of establishing corporate aims

Mission Statement

Benefits of Mission Statements

Drawbacks of Mission Statements

Common Corporate Objectives

Corporate Social Responsibility

Stages of the decision-making framework

Factors that determine the corporate objectives of a business

Management by Objectives (MBO)

Ethical code (code of conduct)

Drawbacks of being Ethical

Benefits of being Ethical

Stakeholders

Stakeholder concept

Business Stakeholders

Free Trade

Tariffs

Quotas

Voluntary export limits

Protectionism

Comparative Advantage

Globalization

WTO

Free trade blocs

NAFTA (countries)

ASEAN (name)

Multinational business

Benefits to "host" countries of multinationals

Drawbacks to "host" countries of multinationals

Privatization

Arguments for Privatisation

Arguments against Privatisation

External Growth

Horizontal Integration

Forward Vertical Integration

Backward Vertical Integration

Rationalization

Merger

Takeover

Synergy

Legal constraints in terms of employment cover these areas:

Impact on the business of employment and health and safety laws

Disadvantages

Impact on the business of employment and health and safety laws

Advantages

Sale of Goods Acts, 1979 and 1982

Trade Descriptions Act, 1968

Consumer Protection Act, 1987

governments encourage business competition by passing laws:

Monopoly

Why do monopolies develop?

Competition Act 1980

Social Audit

Benefits of a social audit

Limitations of a social audit

Information technology

Innovation