Business Activity (Eduqas)

Front

Business aims

Back

General goals for a business for example growth and survival

Front

Objective

Back

is a specific target that is set for a business to achieve its aim

Front

What does SMART stand for

Back

Specific, Mesearable, Agreed, Realistic and Time scale

Front

Stakeholder

Back

individuals and organisations that have an interest are affected by a business. There are internal and external stakeholders

Front

Unlimited liability

Back

Personal possessions of owners are at risk if a business goes into debt

Front

Limited liability

Back

Business is liable for any debt the business occurs

Front

Sole trader

Back

A business owned and run by one person

Front

Partnership

Back

A business owned by two are more people

Front

A deed of partnership

Back

Agreement between partners that sets out rules of partnership. for example how profits are distributed

Front

Private limited company (LTD)

Back

A business owned by family and friends shares not sold publicly