5727293
Description
Flashcards by Jaiden Butch, updated more than 1 year ago
|
Created by Jaiden Butch
almost 8 years ago
|
|
| Question | Answer |
| What is a Business plan used for? | To show what you need to run the business, how much it would cost, what staff you would have. A details description of a business. |
| What is a stakeholder of a business? | A person that has any interest in the business, i.e. owners, employees even customers. |
| What is the stakeholder's conflicts between employee and owners? | The owner wants more profit whereas the employee wants to have better wages, so if the employee got better wages the owner would lose out. |
| What is the stakeholder's conflicts between owners and suppliers? | Owners might want to look out for better suppliers and might want to end the supply of that company, although suppliers want to have contracts last and for them to be the best suppliers and get lots of money. |
| What is primary research? | It is when a person or group go out and conduct research first hand, like ask surveys on the streets, they actually meet people and talk to them first hand. |
| What Is a PLC? | Public Limited Compay |
| What is secondary research? | Secondary research is when a person or group do research at a desk, maybe they go on the internet, or look at newspapers/go to the office of national statistics. |
| What is a LTD? | Privet Limited Company |
| What kind of liability does a sole trader have? | Unlimited liability |
| What is the difference between Unlimited liability and Limited liability? | Unlimited liability is where if there is debt in the business the owner could have his personal possessions taken away, i.e. their house and their cars, etc. Whereas if you have got Limited liability the only things that can be taken away from you are things that the business uses. |
| What is a shareholder? | A shareholder is a person who invests a share in the business and then owns a percentage of that business. |
| What is the advantage of being a sole trader? | The wage bill is low, You work for yourself, The starting capital is small, It is eaiser to make decisions. |
Want to create your own Flashcards for free with GoConqr? Learn more.