What is an entrepreneur?
A person who starts and develops a business, often taking risks.
Entrepreneur: Business starter
Risk taker who starts and develops businesses.
What qualities identify entrepreneurs according to the specification?
They are risk takers who are resilient, focused, passionate, innovative and adaptable.
Competitiveness: Business ability
Ability to succeed against rivals in the market.
What are the main forms of business covered?
Sole traders, private limited companies, public limited companies, worker cooperatives, consumer cooperatives, producer cooperatives, and social enterprises.
SMART objectives: Goal criteria
Specific, Measurable, Accountable, Realistic, Time-specific.
Who are internal stakeholders in a business?
Employees and owners or shareholders.
Stakeholder: Affected group
Individuals/groups influenced by or influencing business decisions.
Business forms: Examples
Sole trader, Ltd, plc, cooperatives, social enterprises.
External stakeholders: Outside influence
Customers, suppliers, community, government.
Market research: Business tool
Collects data to understand markets and customers.
Test your knowledge with 11 questions on AQA Business Specification.
1. Which description best defines an entrepreneur?
2. What is the primary purpose of setting SMART objectives in a business?
Review the complete course in the study sheet for AQA Business Specification.
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