AQA GCSE Business Studies - Unit 1 Key terms

Front

Is an owner of a company. Each shareholder owns a share of the business. The amount of shares owned can indicate the amount of control within the business.

Back

Shareholder

Front

Is formed when 2 or more people set up in business together. This can be between 2—20 people.

Back

Partnership

Front

Is a document that sets out what the business does at present, plus what it intends to achieve in the future and how this will be accomplished. The plan will include marketing and financial plans.

Back

Business Plan

Front

A target that is set for a business to achieve.

Back

Objective

Front

Is a business that has its own legal identity. It can own items, owe money, sue and be sued.

Back

A Company

Front

Is an individual, group or an organisation that is affected by the actions or activities of a business.

Back

Stakeholders

Front

Occurs when a franchisor sells an existing business idea to a franchisee.

Back

Franchise

Front

Someone who is willing to take the risks involved in starting a business. (S)he believes that the rewards of starting a business are worth the risks and costs involved.

Back

Entreprenuer

Front

Is the buyer of the franchise?

Back

Franchisee

Front

A long term goal that is set for a business to achieve

Back

Aim