2.1 Growing The Business

What is the environmental issue about people constantly buying new phones?

• Older models are scrapped

• Toxic Materials from older models leak into the environment

• Customers Pay more money

• Stakeholders lose more money

Business' use non-renewable energy.

What impact does this have?

• Environmental

• Legal

• Ethical

• Cultural

Which one of these scenarios are ethical issues

• A company is thinking of employing a robot that will make most of the workforce redundant

• Someone creating an AI

• A judge decides to give someone a prison sentence

• Someone hacks a computer

Which of these is an example of economic changes in the global context?

• New £10 note

• High street banks opening

• Electronic banking

• Saving accounts

Globalisation is:

• the introduction of the internet to make us closer to others in the world.

• the breakdown of traditional barriers between nations through technology and transport

• faster travel around the world

• the movement of people and ideas around the world.

what is the definition of a Business Aim?

• A broad statement that the business owner wants to achieve

• A general target the business works towards

• A specific target a business sets

What is a Business Objective?

• A statement the business uses to gain customers

• A specific target the business sets to achieve their aim

• A general Goal a business wants to achieve

Objectives set by businesses need to be......

• Specific, Measurable, Attainable, Realistic, Time bound (SMART)

• Set, Measured, Adaptable, Realistic, Timed (SMART)

What aim might a computer manufacturer seeing falling sales have?

• Profit

• Growth

• Market Share

• Providing a service

A takeover is when

• A business agrees to join with another business

• A business buys more than 50% of another business

• A business buys any share of another business

• A business takes over paying the workers of another business