Business Notes

Marketing Mix- Product Types of product Product development To gain a competitive advantage, some businesses may innovate and develop their products….

What is Market Research? It refers to the collection, analysis and interpretation of data about a market to satisfy customers’ needs…

What is marketing? It refers to the identification of customer’s needs and wants so as to satisfy them and influnece the…

What is communication? It is the transmission of a message from the sender to the receiver, where the receiver can provide…

What is Recruitment? It is the process of attracting suitable candidates that a business may need to hire to fill a…

What is Organisation Structure? It is defined as the different levels of management and division of responsibility within an organisation. What…

What is Motivation? It is the main motive why employees want to work hard and effectively in an organisation. Advantages Types…

Difference between objectives and aims Business objectives refer to the short-term goals set by a business, whereas Business aims refer to…

1. Soletrader It is owned and controlled by only one person Advantages Disadvantages Sole decision maker and own boss Unlimited liability…

What is an enterprise? It is a business which is owned and controlled by entrepreneurs whose objective is to makea profit…