Entreprenuers

Business Studies Unit 1 1) a) What is meant by the term Entrepreneurs? Entrepreneurs is soulfulness that manages and orgainse and be willing to take risk of opening or trial a trading organisation or entreprise. Entrepreneurs are also draw as someone who can position and exploit an opportunity. b) What is meant by the term reckons? in that location are 6 different budgets that communication channel can accustom depending on plane section and industry. In the illustration study of John dean Ltd they disclose used business budget, so they can do a financial education for their cost and revenues and also they can wreak out how very much they need to earn and besides so they can budget to use them on materials or supplies. c) State twain non-financial items the brim manager or a venture capitalistic would conceptualise to see in the business plan for John dean Ltd before agreeing to finance the venture. There is two non financial it ems the hope manager and the venture capitalist would expect to see in the summary of Joh doyen Ltd. * commercialise share would look at the climate were they would like to sell, and what former(a) business are nearly that area doing the similar idea. * working out would look to see if at that place is space for the attach to to expand in months/years to come.

d) formulate one rationality why John and Sandra might have been better to use primary market look for on potential nodes as part of thier business planning John dean Ltd would be better to use primary market research as they could ask customer the questions they decided. They could also test their pro! ducts prototypic with the customer before going straight for the venture; this would aim how serious the company would be. e) Use the information in the school school text and table 1 to calculate JohnDean Ltd total profit or loss over its first thirteen weeks of trading. John Dean Ltd total profit or loss over the utmost(a) 13 weeks. My calcualtions are shown below: Cost to make: £6.25 × two hundred × 13 = 16250 Fixed cost per week: £1625 × 13 = 21125...If you indigence to get a full essay, order it on our website: BestEssayCheap.com

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