423648
| Question | Answer |
| Give two reasons why someone might start a business | ?? |
| Do charities aim to make a profit | . |
| What is a social enterprise | . |
| What is meant by calculated risk | . |
| List 5 qualities that an entrepreneur is likely to have | . |
| Which two of these are problems if you area sole trader-long hours -unlimited liability- smelly fish | . |
| What does a sole trader gain and lose if it becomes a partnership | . |
| If you own part of a business and the business goes bankrupt , would you rather have limited or unlimited liability ? Why? | . |
| Limited companies have a separate legal identity, what does this mean ? | . |
| What is a franchise? | . |
| Describe two benefits of franchising for the franchisee | . |
| Describe two disadvantages of franchising for the franchisee | . |
| List seven types of business aim | . |
| Explain the difference between a business aim and a business objective | . |
| Describe one use of business objectives | . |
| Describe how a business could use numerical targets to assess its performance over a year | . |
| Describe how a business could determine whether its met its objectives for being ethical | . |
| What is a stakeholder | . |
| Name two internal stakeholders | . |
| Name two external stakeholders | . |
| Explain why the shareholders of a business and consumers might have different opinions about how successful a business is | . |
| Who are the most important stakeholders and why | . |
| Describe the purpose of a business plan | . |
| Describe the things that should be included in a business plan | . |
| Why isn't a good business plan a guarantee of success | . |
| Why might some firms choose to locate production closer to their raw materials than their customers? | . |
| List four other factors that need to be considered when choosing a business location | . |
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