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Summary OCR a level business, Chapter 1

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The first chapter of the OCR a level business course, covering the basic ideas about entrepreneurs, enterprises and the factors that can impact businesses.

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Course

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enterprise easiness functions
enterprise another term for a business entrepreneur Mae and
refers to the actions a risk taker who starts theirownbusiness setemployed entrepreneur
of hardworking creative
diligent determined
Entrepreneur a risk taker who sets up their own business competent
confident
Leadershipsuites
to start own bones prep reliable happy totakerisk
and Self-Employed - Working for oneself as a freelancer o
ftp.t
etbiideefunete


nangYterideerge
the owner of a business rather than for an employer.

Entrepreneur - A person who organises and operates a
energyand
e ninusiasm
business or businesses, taking on greater than normal
Git
gkE's
Easiness
Persistenceand financial risks in order to do so.
drive
immediatesuccess
V is ununey
Factors of Production
I
mom
characteristics Boooooooooooooooooooooo
leadershipskills
eg motivationcommunication
to
essential achieve
a of an Abilitytowork
underpressure alone theinputs that are used in the production
committedproductive
andwithothers of goods or
services They are
workforce entrepreneur
resources egfieldsmineralscrop
firstfewyearsare
hard land that are
natural
r grownonit
7 labour allhumanresources
available exceptentrepren
whatevertheage skill leveloftheworker
beingtoombetocrotmable creativityand capital referstobuildings machineryandtools
with raise
personnaaitinannanacerism
imagination
notmoney
E.IE IItsiseess
eiaMait
b
hemp Years enterprise theentrepreneurwho organisestheothers
factor


factors of production are essentialinputsfor a
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valueAdded MMMffffy Businessescanrespond aprices but abilityto a
by
taunted thisdepends onbrandloyalty t marketcompetitio
Ean
what a business achieves byensuring that theprice trytoothercosts butcould bebadfor
suppliers

of the finishedgood or service is in excessof costs of
input
Means that the business cansell the product at a MP than
a restrainingfactor on a business
is concerned withaddingvalue involves acostthe
Entrepreneur
sotheycanmake a profit businessneeds to
environment
paydirectlyorindire
wood
egcanbe burnt sold as fuel
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of employees
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ensuring
keptundercontrol
Tot Functions within a business Howton
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d
I monitors businesses
financial Management traini
t

1
sufficient fund timeand
I


t
win resyources
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geygng.gg
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Accounting Finance employ
setsbudgets as
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ji
t production researtoHelp
management satisfy


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ofcapital equipment
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controland managing
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retiring to
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outputs
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make a profit
Adding value t
Production making sure
service
efficient as can be a part consumersareaware o
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Chapter 1
Uploaded on
July 24, 2023
Number of pages
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Written in
2022/2023
Type
SUMMARY

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