Business Entities
Define Cooperative
Runs for the benefit of everyone in the community. Businesses comes together to contribute to the market sales and providing resources.
Name the difference between Vision and Mission statement
Vision is long term and mission is short term. Mission is more realistic while vision is more vague and broad.
True of False, "a competitor is considered a stakeholder"
True
How do you calculate market share?
firms sales / industry sales X 100
Keshav
What is the difference between private sector and public sector.
Organizations owned by government and a owned by individuals.
Name two methods that businesses use to grow.
1. Mergers & Acquisition
2. Takeover
3. Joint Ventures
4. Strategic Alliances
5. Franchising
Stakeholder is someone who gets affected by changes in the business. A shareholder is an internal stakeholder of a business who receives shares from the business's revenue and buys its stocks.
What is the advantage of internal source of finance
Zero finance cost
How many people were in this class at the beginning of the year.
8 (keshav and suri came later)
What is the disadvantage of a sole trader? and define what it is.
Unlimited Liability
Define Economies of Scale
When a company maximizes profit by using existing resources. It is when the average cost of production decreases as the organization increases the size of operations.
Name two internal and two external Stakeholders
Internal examples: Employees, managers, directors, shareholders
External: Competitors, customers, suppliers, financiers, and pressure groups
Name all 3 internal sources of finance
1. Personal Funds
2. Retained Profits
3. Sale of Assets
On a scale from 1 to 10, how much does Ajarn Kirandeep like our class
(ajarn write your answer on a piece of paper first)
What is the difference between companies and enterprises.
Company is Legally registered. An enterprise is a term that broadly incorporates several human activities and institutions
What are the two of the four common business objectives?
1. Growth
2. Profit
3. Protecting Shareholder Value
4. Ethical Objective
What is the difference between the interest of a manage and an employee?
Employee: opportunity for career progression
Manager: Longterm financial health of company
Name the four external sources of finance
1. Share Capital
2. Loan Capital
3. Overdrafts
4. Trade Credit
Name all the boys in order of youngest to oldest.
Daniel, Keshav, Joshua, Kent, Mason, Sean
What does NGO stand for and why does it form?
Non-Governmental Organizations. They form because there is a lack in government provided resources or services.
Without using at the notes, what are the four methods of Ansoff's Matrix.
1. Market Penetration
2. Product Development
3. Market Development
4. Diversification
What are competitors interested in a business
(looking for a keyword)
performance benchmarking
What does IPO stand for, and what does it mean?
Initial Public Offering is when a private company goes public and offers the first purchase of stock on the market. Is done to raise significant funds as capital for the business while giving early investors a way to cash out.
When is Aj Kirandeep's Birthday (lets not do years)
Idk ask her