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business 2
business enterpener
| Question | Answer |
|---|---|
| ASIC | australian securities and Investment Commission |
| DIVIDEND | Shareholders a paid ______, which is their share of the company’s profits |
| LIMITED LIABILITY | The shareholders are legally responsible for the debts of the company. |
| UNLIMITED LIABILITY | The proprietor is legally responsible for the debts of a business. |
| LAWS | A system of rules set by a council. |
| CAPITAL | A form of money/assets that can be invested into a business. |
| EQUITY | The value of shares issued by a company. |
| ENTREPRENEUR | A person who organises and manages a business. |
| MARKET RESEARCH | Gathering information about consumers’ needs and preferences. |
| TARGET MARKET | A group of consumers at which a product or service is aimed. |
| SOLE TRADER | I am the most common form of businesses organisation. I only have one owner. |
| ADVANTAGES OF A SOLE TRADER | You are your own boss and you receive all the profits. |
| DISADVANTAGES OF A SOLE TRADER | You are liable for all your debts. |
| PARTNERSHIP | I start with between 2 and 20 people. |
| ADVANTAGES OF A PARTNERSHIP | More money is in the businesses at the start. You get to share the workload. |
| DISADVANTAGES OF A PARTNERSHIP | If a loss is made, you all have to pay. The profits are shared. |
| PUBLIC COMPANY | I need a minimum of 5 shareholders to start. My shares are on the ASX. |
| ADVANTAGES OF A PUBLIC COMPANY | Exists separately from owners. Limited liability. |
| DISADVANTAGES OF A PUBLIC COMPANY | Can be more expensive to establish. You don’t get a choice in who invests. |
| PRIVATE COMPANY | Can also be called a proprietary company. |
| ADVANTAGES OF A PRIVATE COMPANY | You get to choose who invests in your business. Limited liability. |
| FRANCHISEE | I sell the goods and services for a large company. I own my business and receive most of the profits. |
| ADVANTAGES OF A FRANCHISE | Could be any form of ownership. Provided with planning, products, brand name and licenses. |
| DISADVANTAGES OF A FRANCHISE | Franchisor takes some of the profits. |
| DEMOGRAPHICS | Statistical data relating to the population and particular groups within it. |
| A company is a _______. | LEGAL ENTITY |
| LEGAL ENTITY | An individual, company, or organization that has legal rights and obligations. |
| SKILLS OF AN ENTREPRENEUR | Critical, creative, practical. |
| CHARACTERISTICS OF AN ENTREPRENEUR | Passionate, motivated, hard-working, adaptable. |
| 4 P’S OF MARKETING | Product, Price, Promotion, Place |
| PTY LTD | Proprietary limited. The company has limited liability. |
| POSITIVES OF SOCIAL MEDIA | Increases the market the company engages with. Reduces costs. Fast and easy to use. |
| NEGATIVES OF SOCIAL MEDIA | Needs constant attention. Could have rapid spread of the wrong information. |
| COMPETITIVE ADVANTAGE | A condition that puts a company in a favourable business position. |
Created by:
lilydwan
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