What is an entrepreneur?
A person who starts and develops a business, often taking risks.
What qualities identify entrepreneurs according to the specification?
They are risk takers who are resilient, focused, passionate, innovative and adaptable.
What are the main forms of business covered?
Sole traders, private limited companies, public limited companies, worker cooperatives, consumer cooperatives, producer cooperatives, and social enterprises.
Who are internal stakeholders in a business?
Employees and owners or shareholders.
Entrepreneur: Business starter
Risk taker who starts and develops businesses.
Competitiveness: Business ability
Ability to succeed against rivals in the market.
SMART objectives: Goal criteria
Specific, Measurable, Accountable, Realistic, Time-specific.
Stakeholder: Affected group
Individuals/groups influenced by or influencing business decisions.
Business forms: Examples
Sole trader, Ltd, plc, cooperatives, social enterprises.
External stakeholders: Outside influence
Customers, suppliers, community, government.
Market research: Business tool
Collects data to understand markets and customers.
Answer 11 questions on AQA Business Specification.
1. Which description best defines an entrepreneur?
2. A business sets the objective “Increase monthly sales by 10% within the next six months, with the sales manager responsible for achieving it.” Which feature of effective objectives is demonstrated by assigning the sales manager responsibility?
Go over the full study guide for AQA Business Specification.
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