Content
- Purpose of business
- Reasons for starting a business
- Basic functions and types of business
- Business enterprise and entrepreneurship
- Dynamic nature of business
Additional
Understand business…
Understand drivers and outcomes of business…
- What is the difference between:
Understand the meaning of (contributing) factors of production…
Define opportunity cost…
Define the 3 sectors in business
(With examples of businesses that operate in each)
Understand ‘enterprise’ and ‘entrepreneur’…
Outline the characteristics of an entrepreneur…
And why are they important to his success?
Outline the objectives of an entrepreneur…
- be his own boss
- flexible working hours
- pursuit of an interest
- earn more money
- identify gap in the market
- dissatisfaction with employment
Understand constant change in the business environment…
Due to:
- Politics
- Society
- Technology
- Economy
- Legislation
- Environment (Ecology)