idk Flashcards
(9 cards)
How do businesses contribute to the nation?
Creating jobs, paying taxes, producing goods/services, encouraging innovation, exporting products.
Name 3 methods businesses use to foster innovation.
Research & Development (R&D), encouraging creativity, collaborating with others.
What are business support services?
External services like legal help, financial services, marketing, consultants, and training.
What is a business plan?
A document outlining the business idea, customers, marketing, finances, and resources.
What is Corporate Social Responsibility (CSR)?
When businesses act responsibly toward society and the environment.
Why must businesses consider societal attitudes and behaviour?
Because customer values and preferences affect buying choices and reputation.
How do economic conditions affect businesses?
They influence consumer spending, borrowing costs, prices, and business success.
What are the technological and global considerations for businesses?
Using new tech for opportunities and handling international markets and competition.
What are special interest groups?
Groups like environmentalists, consumer advocates, unions, and government agencies influencing businesses.
