Business Revision Notes

Shareholders are group owners of a company Directors Elected by shareholdersResponsible for running the businessSome have enough shares to exert controlWorker directors ? click here for full revision note

Shareholder want good and regular returns, as well as a say.Managers want responsibility, rewards, lack of interferenceEmployees want secure and well paying jobs, interesting jobsCu click here for full revision note

people who have an interest in the business, and are affected by the operation of the business.   Internal Stakeholders Are part of the business organizationExamples: owners, shareholders, m click here for full revision note

Expensive: advertising, taxpayersMonopolies createdSold for too littleDuplication of resources, due to public loss of monopoliesAny loss making shut down, minority?s loose outSharehol click here for full revision note

profit is an important objectiveDecrease in pricesCut back on staffing levelsIncreased investmentDevelopment and diversificationMergers and takeovers click here for full revision note

Generates income for the governmentNationalized industries were inefficientDeregulation results in improvement of prices and quality of services for consumersLittle political interferenceI click here for full revision note

  Organizations owned or controlled by the state   Features Non-rivalry ? consumption of the good by one individual does not reduce the amount available for others.Non click here for full revision note

Private sector ? business set up by individuals or groups of individuals   Unincorporated business No legal difference between owners and the business   Incorporated business Bus click here for full revision note

IndependenceIncrease rewardsDue to redundancyCommitment to a productHobbiesSatisfy creative needsCan?t find employmentDissatisfaction click here for full revision note

Primary Taking natural resources from the earth Secondary Transforming raw materials into goods Tertiary Provision of a service click here for full revision note