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Nature of Business

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Business Studies
Dawson169
Mind Map by Dawson169, updated more than 1 year ago
Dawson169
Created by Dawson169 over 10 years ago
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Resource summary

Nature of Business
  1. Business growth and decline
    1. Stages of the business life cycle
      1. Establishment
        1. Growth
          1. Maturity
            1. Post-maturity
          2. Role of Business
            1. The nature of business
              1. Producing goods and services
                1. Profit
                  1. Employment
                    1. Incomes
                      1. Choice
                        1. Innovation
                          1. Entrepreneurship and risk
                            1. Wealth and quality of life
                          2. Types of businesses
                            1. Classification of business
                              1. Size
                                1. Small to medium enterprises (SMEs)
                                  1. Large
                                    1. Micro Business
                                    2. Local, national, global
                                      1. Industry - primary, secondary, tertiary, quaternary, quinary
                                        1. Legal Structure
                                          1. Sole Trader
                                            1. Partnership
                                              1. Private Company
                                                1. Public Company
                                              2. Factors influencing choice of legal structure
                                                1. Size, ownership, finance
                                              3. Influences in the business environment
                                                1. External Influences
                                                  1. Economic
                                                    1. Political
                                                      1. Institutional
                                                        1. Market
                                                          1. Financial
                                                            1. Geographic
                                                              1. Social
                                                                1. Legal
                                                                  1. Technological
                                                                    1. Competitive situation
                                                                    2. Internal Influences
                                                                      1. Products
                                                                        1. Location
                                                                          1. Resources
                                                                            1. Management
                                                                              1. Business Culture
                                                                              2. Stakeholders
                                                                                1. Managers
                                                                                  1. Customers
                                                                                    1. Employees
                                                                                      1. Environmenrs
                                                                                        1. Shareholders
                                                                                          1. Society/general public
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