S3 Understanding Business Revision

Select the factors of production

• Primary, Secondary and Tertiary

• Private, Public and Third

• Land, Labour, Capital, Enterprise

Select the sectors of industry

• Primary

• Secondary

• Third

• Tertiary

Select the method MEASURING customer service

• Market research

• Customer care strategy

• In-app survey

• Complaints procedure

Select the benefits of providing good customer service

• Improved reputation

• Customer loyalty

• Decreased sales

• Employee satisfaction

An organisation's _________ is an aim/goal they hope to achieve.

What is wealth creation?

• Revenue earned through providing a service

• Value added during the production process

Select the types of organisations operating in the private sector

• Local government

• Sole Trader

• Social Enterprise

• Partnership

Select the organisations operating in the third sector

• NHS

• Police

• Oxfam

• The Big Issue

Select the organisation operating in the public sector

• Oxfam

• Adidas

• Nike

• Fire Service

An organisation in the private sector's main objective is to maximise_______________