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BUSINESS STUDIES ( Chapter 3 - Enterprige, Business Growth and Size ) Enterprige and Enlroprencurship = entrepreneur - A perion who enganives, operates and takes the risk for a new buisness venture, + Advantages: al Independenae ui) Mere proitale B Werk on oun ideas ) Make ute of personal interests and akils oc] Fame and supeeuo when busines cue = Dincdhertges: al Risk of failure 1 Lack of krouledge a experente in ataing and operating a busines BL Quin eopital a itk af Irconsetnt monihly nome + Characters of sues entreprenurt: al Harduerking e) Se confident Bb) Rick tnkor Alrnowtive e) Creative ahlndeperdent al) Optimists HY Effective nonmarioator Why Goverrmerta Support Business Sar-upa Naw businesses wl ero joi the wl lp reduae empleumn ~ New tusresues wl ge consumers more etn and inereage congestion with deady extablhed businentes. + New businesses al help the ezoncmy benef fom te neeaued ong of products. + New businesses may grow to became very large ard important bugineaues in the Future What Sueport Gouerenanta Que to Start-up Busressea + Butea dean and help - by organising achive and auppoet secsine oflared by experinsed busines people + Promises ~ with “enerrie zones” whch prowde wr ostpreniues fo str-up usnessen = Finante - loans at low interest rates + Latour - grants ta tran erpkyoes and hep inereage ter produetity + Reasarch~ entourage uveitis to make ther research fates auslale to rew bus entrepreneurs Business Plana + Vin 2 duran! containing the busross ebjocivon and irperion dette about the operaions, Finance and ounere ofthe naw business. = Elements al Typec! busineas ergarisation Al Location of business H) Busineseebjestien 1] Preduoin details and business conta #) Good /Senvce 1 Forecast profit Target market iI Gash few 1] Hhrnan resoures flan ji Frante + Abank ull ours ak an ennepreneur fr @ butineas plan bere agreeing toa loan or avrdkaftto hla fnange the new busin + Without a business pla, the Bark wl be retard ald mney to he busines aa i tanec chew that thay have ahouht rouly about the future. Comparing Business Gos + Fim ean be owned ad run by a single individual, crt canhavs hundreds of thousands of workers lover the weld = Irveitars, governments, banks, oeripetiers and workers wauld find it usefl to cornpare- business Sizes + Busines cies oan be meqaured by the rune of employees, value of cult, hse of sabe and ve of capital employed Hat al ae adartages ond linations + capital omplaypd [tis the toll usu of pital usa in tho business Pabvrtages: + hereental integration al The merger redunes cempetiton is the industry. 1 The combined busines ull have abigger share of he tcl marks. + forward vera integration al The merger gives an assured cae! for fei prec. bl infermation about consumer needs and preferenes can now ke obtained direoty by the manufacturer. + baokuard vertical integration al The merger given an ataured supply of mpertare components, Costs of cormponent and supp fr the manafaturer could be contd + conglomerate integration. al The busines would have drafed ts ooites ard thi ul epead the ras ten by the businaas. 1 There might be a transfer af ideas between the diffrent suoions of he business eventhough they operate indifferent industries, Discthantages: ‘al hard to eantral, 26 qperate business in anal unite (farri of deventralisatice) 1) poor eammurication, ao operate business in ara units tl expan i ctl, oo do it uly ard use prof for arthur grout Why Some Businanses Stay Sral + They offer persnal servinea/ penile proc = lV a eifou offer the close ard personal arviee derinded by acrsunere if he business to large Tho marke iz in uma ~ Onecare interested in keeping cartel of a ail business and ring a of thet tf ar earner. + Ouiners wich to sunid the strooe and worry of expanding the business. luhy Some Businesses Fal + Poor management - Lack of experience can lead to bad decisions, ike loeating the business in an area with high eoste but lou demand. - Faire to plan fr change -New technology, powerfd new competitors and majer economic theres ean lea to business fares f rot resperded fo efoto ~ Poor fnarcia management ~ Skorage of eth mesns that werer, supply, landlords ard more caer be psid uhst they are ued + Over-expanion - When it exparde too quickly, it can lead 4 big problns of management and finance ~ Riska ef ew business startup ~ The gwner may lack the expenerce ard decision making sil

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