Examining the characteristics of enterprise

What is an enterprise?

• is an organisation that provides goods or services.

• are features that are typical of a particular enterprise.

• are physical products that can be purchased.

• are acts or tasks carried out by an enterprise that can be purchased.

What is an enterprise?

Enterprises carry out one or more activities. These activities vary depending on:

• the size of the enterprise.

• offering goods and services.

• facing competition.

• attracting customers and keeping them.

Enterprises can offer goods, services or both.

• True.

• False.

Even if customers are convinced to buy goods or services from a new enterprise, they may not buy to produce them if:

• the enterprise has not built up a reputation, so customers may not trust it yet.

• their goods or services may be more expensive than larger enterprises because it costs more to produce them.

• advertising budgets may be small compared to larger enterprises, meaning it may be difficult to make people aware of their expenses.

• they have not received a good service and the quality of goods is not high enough.

Keeping customers happy means ensuring they are offered the best service possible. There are four main reasons why having good customer service helps a business.

• it attracts new customers to try the goods or services.

• it encourages customers to come back and buy again.

• it encourages customers to be loyal and not consider shopping elsewhere.

• of customers are happy, they are more likely to share their positive experience with others.

• All the Above

There are reasons why small and medium enterprises fail. List the reasons why enterprises may fail.

Give a definition of what us meant by an enterprise, then list three things you have learned why it is important to keep customers happy.

If an enterprise consists of up to ten people. It is called a...

• medium enterprise.

• micro enterprise.

• Private Limited Company.

• NGO.

A small enterprise is one that employs between...

• 50 and 249 people.

• 11 and 49 people.

• up to 10 people.