AQA Alevel Business (AS). 2022 Summer Revision masterpiece

Business - Ans-The creation of a customer; in other words, conceiving a product or service that people will pay enough for to generate a profit. Budgets - Ans-an agreed ceiling on the monthly spending by any department or manager Corporate Objectives - Ans-targets for the whole business, such as profits to rise by 20% a year for the next three years. Delegated - Ans-Having passed authority down the hierarchy so that the local or more expert person make the decision Entrepeneur - Ans-A person with the initiative and drive to make a business idea happen Mission - Ans-A business aim Expressed to make it seem especially purposeful and motivating Mission Statement - Ans-A short, powerfully- expressed sentence or two that explains the business aims clearly, yet motivationally Objectives - Ans-Targets precise enough to allow praise or blame for the person in charge Profit optimisation - Ans-that the surplus of revenue over costs should be just right ; neither two high in the short term nor too low to finance long-term success Strategy - Ans-A me