Business 1 (3.1.1 - 3.1.2 things missed out)
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Business 1 (3.1.1 - 3.1.2 things missed out) - Leaderboard
Business 1 (3.1.1 - 3.1.2 things missed out) - Details
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7 questions
| 🇬🇧 | 🇬🇧 |
| What is a mission? | Mission is a general statement of how a business achieves it's vision |
| What are objectives? | Objectives are specific actions and timelines for achieving the goal. |
| Why do businesses set business objectives? | Businesses set aims and objectives to help with decision making. Helps with motivation and keeping on track as well as helping to decide what their main focus should be |
| What is profit and what significant measurements are used to calculate it? | Profit is a return of an investment. When calculating profit, the following factors should be taken into account: . Revenue .Fixed Costs .Variable Costs Total Costs |
| What is the role of shareholders and why do they invest. | Shareholders provide financial backing for companies by buying shares. They expect returns made by profits (payed out in dividends) |
| What influences share prices and what is the significance of share price changes? | The main factors that determine whether a share price moves up or down are supply and demand and a higher share price outlines a better company as their stocks are worth more, proving their profitability |
| How does the specific type of ownership affect a business? | The specific type of business affects what the business focus on as their amount of liability and stability affects the decisions and thus, the objectives they can set |