Role of Business
A tangible item produced to sell to market.
What is a good?
Shop that supplies and caters to people in the immediate vicinity.
What is local business?
I am a builder running my own business.
Mr McDonald is a loser.
It snows here so I sell warm jackets.
What is geographic influence?
I sell more fridges because they are better quality than my competitors.
What is product influence?
An action performed in the market to generate income.
What is a service?
What is global business?
My wife and I run a pet grooming busines.
What is a partnership?
Business remain open during COVID pandemic.
What is economic influence?
I make decisions for my business that determine outcomes.
What is management influence.
A new item or way of doing something in the market to differentiate one's self.
What is innovation?
I am an educational employee. In what sector am I employed?
What is tertiary sector?
Snowy Hydro provides green electricity to the market and is an Australian example of this ownership structure.
What is government enterprise?
Banks deregulate credit lending so I can buy a new building for my company.
What is institutional influence.
Best practice approach to running a business.
What is business culture?
The fundamental reason someone starts a business.
What is to make money/profit/income?
Taking natural resources ie coal or timber etc and putting them to market.
What is primary industry?
A business I started has become so successful it now trades on the Australian stock exchange (ASX).
What is a public company?
The Australian dollar is strong so I buy more consumer goods.
What is economic influence?
I have access to good cheap products that I use for my cleaning business that differentiates me from other cleaning businesses.
What is resource influences.
Starting a business and taking on risk in order to profit.
What is entrepreneurship?
I have developed an idea for an app I think will be successful. I will employ someone from this industry to make my app.
What is quaternary industry.
I run a company that can issue stock and have shareholders but is not found on the ASX.
What is a private company?
Public sentiment is shifting from coal power to renewable resources.
What is social influences?
I have a shopfront that is located in the centre of a busy street with good parking.
What is location influence?