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WorksheetsBusiness Management SAC Revision
Total questions: 22
Worksheet time: 2hrs 50mins
What is an entrepreneur?
(a)
How Many Sources of Business Opportunity are There?
6
7
5
4
What are the Sources of Business Opportunity?
(a)
What are the Personal Motivations Behind Starting a Business?
(a)
What is an Example of Fulfilling a Market Need?
The business owner may recognise that particular goods or services for which there is a demand are not available in a particular suburb or town.
Providing opportunities for local unemployed people
Developing skills, providing vocational training or lifelong learning opportunities for disadvantaged people in the community
Making environmental and community-friendly goods and services.
What is an Example of a Social Need?
Identifying an inefficiency in the market.
Creating access to a better quality of life for members of the community.
Focusing on waste minimisation and recycling.
An opportunity to appeal to a certain group of customers.
Why is it important for a business to set goals?
(a)
What acronym should you use when making goals?
SORT
PERMAH
SMURF
SMART
What do they stand for?
(a)
What are the 3 key goals a business needs?
Financial, communal, personal
Profitable, social, personal
Financial, social, personal
Financial, social, environmental
What is a example of a financial goal and a social goal?
(a)
What are some characteristics of a entrepreneur?
Innovative
Calculated
Risk-taker
Creativity
What are some characteristics of a business manager?
Organised
Leadership
Innovative
Hard-working
What is a example of a financial goal and a social goal?
(a)
What is a characteristic of a entrepreneur?
Innovative
Calculated Approach
Risk-taker
Creativity
Hard-working
What are characteristics of a business manager?
Organised
Leadership
Innovative
Creative
Logistical
What is the importance of business concept development?
(a)
What is market research?
(a)
How will market research and an initial feasibility study will help a business to succeed?
(a)
What are some ways that business help the ecnomy?
>>>>>>>>>>>>
It also generates tax revenue for the government in the form of income taxes which help build schools and hospitals.
Business help create new jobs which provide people with an income which they use to buy their needs and wants.
<<<<<<<<<<<<
How do businesses help the economy?
(a)
What are some ways to encourage innovation and entrepreneurship?
(a)
