UNIT 1 REVISION – OWNERSHIP & STAKEHOLDERS

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Presentation transcript:

UNIT 1 REVISION – OWNERSHIP & STAKEHOLDERS GCSE BUSINESS STUDIES UNIT 1 REVISION – OWNERSHIP & STAKEHOLDERS

Aims & Objectives Carry out revision activities during the lesson Understand different types of Stakeholder for businesses. Understand different types of Ownership for business. Understand methods of growth by a business TASK: Work through the following slides and answer the questions (in books / on paper / on PC – YOU DECIDE!) Use your notes/text books/BBC bitesize to help you!

STAKEHOLDERS Owners/Shareholders Customers Local Community Pressure Groups STAKEHOLDERS Employees & Families Debtors/ Suppliers Managers/Directors Government/Council Creditors

Ownership of Business – Sole Trader & Partnership What is a Sole Trader? Give 2 advantages & 2 disadvantages of being a Sole Trader. What is a Partnership? What document do you need to produce to set up a partnership? Give 2 advantages & 2 disadvantages of being a Partnership Both Sole Traders & Partnerships have UNLIMITED LIABILITY. Can you explain what is meant by Unlimited Liability?

Ownership Revision - Franchises What is a franchise? What is the difference between a franchisee and franchisor? Name 3 franchises State two benefits of setting up a franchise State two disadvantages of setting up a franchise

Ownership - Limited Company 1. Give two advantages of being: a private limited company a public limited company 2. Give two disadvantages of being:

Business Objectives Revision What is meant by the term business objective? Give three examples of business objectives for a firm State two reasons why a firm might change its objectives as it grows larger What is meant by the term business ethics? Can you give an example of an ethical business? Can you give an example of an ethical business objective? State 2 social costs of business State 2 social benefits of business

Methods of Growth Revision What is meant by organic growth? What is the difference between a merger and a takeover? What is the difference between horizontal and vertical integration? What is meant by diversification? State 3 stakeholders of any business. Explain WHY each of these are stakeholders.