Flashcards
| GCSE Busniness Studies | AQA | Key Terms | "Starting A Business" |
Cards in this deck (23)
- 1A business opportunity that is either a completely new idea or adds something different to an existing product or service.Gap in the Market
- 2The legal right to use the name and logo of an existing firm and sell the same products.Franchise
- 3A stated target for the future. For example a new business may have the aim to survive it's first year of trading.Business Aim
- 4A clearly defined target for a business to achieve over a certain time period.Business Objective
- 5An increase in turnover, market share or profit.Growth
- 6What is left after costs have been deducted from revenue.Profit
- 7Profit made as a proportion of sales revenue.Profit Margin
- 8The amount sold or the value sold.Sales
- 9The proportion of total market sales sold by one business.Market Share
- 10How happy the customer is with the product or service.Customer Satisfaction
- 11The value of Sales made during a trading period, also called revenue.Turnover
- 12An individual or group with an interest in a business, such as employees, customers, managers, shareholders, competitors and the local community.Stakeholders
- 13A statement showing how a business set out to achieve its aims and objectives.Business Plan
- 14The capital provided for the various stages of business growth by different sources of finance.Funding
- 15A technique where the business attempts to estimate future sales or other financial variables.Forecast
- 16The potential for loss but rewards in business make it a calculated gamble.Risk
- 17Not knowing the future or what is going to happen.Uncertainty
- 18The most common form of business organisation, often just one person.Sole Trader
- 19The simplest way two or more people can be in business together where partners are jointly responsible for debts.Partnership
- 20Unincorporated businesses, such as sole traders and partnerships.Unlimited liability
- 21The process of forming a limited liability company such as a PLC.Incorporation
- 22Investors in one of these can only lose their investment in the business if it fails.Limited Liability
- 23The process of buying, managing and delivering goods from the point of manufacture to the end consumer.Logistics
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- | GCSE Busniness Studies | AQA | Key Terms | "Starting A Business" |
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