Business objectives
What is the most common financial objective for a business?
Earn profit
What type of business is owned and run by one person?
Sole trader
What sector of the economy involves farming, fishing, and mining?
Primary sector
Name one factor that influences where a business locates.
Proximity
What is Pop Mart?
A Chinese toy company
Which objective focuses on increasing the number of customers in an industry?
What is the definition for partnership?
A business owned by more than 1 person
Which sector transforms raw materials into finished goods?
Secondary sector
Why might a retailer choose to locate near a busy shopping centre?
Where is iPhone assembled?
China, Zhengzhou
Name one non-financial objective a business might have.
TBA
SIFC is a ___________________
private limited company
What sector of the economy does SIFC canteen belong to?
Tertiary sector
Explain how transport links affect business location decisions.
Businesses especially in tertiary sector will look to locate near a tranport link
Why might a new business think survival is more important than profit in its first year?
Increase customer number first and establish a good fame
How does ownership differ between a private limited company (Ltd) and a public limited company (Plc)?
share traded privately vs share traded publicly
Which sector does a clothe selling assistant belongs to?
Tertiary sector
Why might a technology company prefer to locate near other tech businesses?
Cluster effect - access to talents and resources
Name 3 competitors of Deepseek
Doubao, ChatGPT, Grok, Llama, Antropic
Explain how stakeholder conflict can influence a business’s objectives
TBA
Explain why a business might choose to change from a sole trader to a private limited company.
To be able to raise more money
Give one reason why countries aim to develop their tertiary sector.
Tertiary sector generally makes more money
Analyse how government actions can influence business location decisions.
Tax cut, infrastructure, benefits
The richest company in China
Tencent