buisiness
whats entrepeneur
a person who takes the risk of starting and running a business entreprise
three purporses of business entreprise
spotting a oppourtunity developing an idea, satisfying customer needs
characterisitics of an entrepreneur
confident creativity risk taking determination
rewards financial
make money
rewards non financial
idependence self satisfaction
financial risk
losing saving and assests
non finacial risk
health
business plan
identify rhe market, identify the finance, achieve business aims and objectives, identify the respurces
sole trader
business owned by one person
partnership
a business owned by 2 or more
private limited compant
usually small business sell shares to invited people only
public limitied company
it can sell shares to anyone who wanrs to but
unlimated liability
the owner of business is responsable dor repaying all debts
limited liability
the owners of a business can onky loose rhe money they have invested
business objectives
survival, profit, growth, providing a serivce
stakeholder
someone who had an interest in a business
organic growth
concerned with internal growth from within a business
external growth
the growth of a business by a takeover or merger
horizontal growth
a takover where two business are involved in similar operation
diverestificafion
takeover wirh another business which has no connection
backwards vertical growth
takeover with a business that supplies it sith goods or services
forward verticsl growth
takeover a business that it supplies goods or services to