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Business
| Question | Answer |
|---|---|
| What is a financial enterprise and what are two examples of them | A financial enterprise is set up to make a profit by selling a product or service. E.g banks and shops |
| what is a social enterprise | a social enterprise is one that puts people and community ahead of private and personal gain. |
| what is a cultural enterprise and what is one example | a cultural enterprise provides local or national consumers with access to the arts and cultural activites e.g the GAA |
| What is a financial enterprises role in society | a financial enterprises role is society is it provides employment, provides goods and services and pays tax to the government |
| what is a social enterprises role in society | a social enterprises role in society is it provides services, helps tackle social problems. |
| What is a cultural enterprises role in society | a cultural enterprises role in society is it provides people with cultural activites, the arts and events |
| what is an entrepreneur | An entrepreneur is someone who takes the innitative to starts a business. |
| what are 4 skills of an entrepreneur | - planning and goal setting - Ability to manage money - Ability to access and manage risk - time management - human relations skills - problem solving skills - ability to to identify opportunities |
| what are 4 characteristics of an entrepreneur | - realistic risk takers - flexible - creative - self confident - Decisive - proactive |
| what is the purpose of a business plan | it establishes wether a business is likely to succeed Sets targets to be achived |
| what does S.M.A.R.T stand for | Specific Measurable Agreed Realistic Timed |
| What are the forms of business ownership | sole trader Partnership A private limited company (LTD) |
| What are two rights and two responsibilities of a employer | rights: Hire the most suitable and qualified staff Decide the aims and objectives of the business Responsibilities: Pay employees a fair Days work for a fair days pay Operate a safe and healthy working environment |
| what are two rights and responsibilities of an employee | rights: A right to a fair days pay for a fair days work Safe working conditions Responsibilities: Follow work rules Come to work on time |
| What are the benifits and rewards of using digital technology | - market research and marketing - finance organisation - production |
| What’s and example of a short term finance | Business credit card |
| What’s an example of a medium term finance | Loan |
| whats and example of a long term finance | mortgage |
Created by:
Lordan