Ethical Issues in Business
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Causes of Business success
A business is considered as being successful if it makes consistent profit and experiences progressive growth in the scale of its operations.
What are the factors that influence entrepreneurship practices?![]()
There are many conditions or factors which may encourage or discourage entrepreneurship. Some of these factors are:
Introduction, Contents and Why you need a Business PlanIntroduction to Business Plan![]()
What is a Business Plan?
Introduction and Factors to consider when evaluating a business opportunityIntroduction to Business Opportunity
A good business plan is not necessarily a business opportunity. A business idea becomes a business opportunity if it is viable i.e. it can be developed into a successful/profitable business enterprise
A business opportunity is a favourable chance that an entrepreneur accepts for investment. It exists where there is a gap to be filled in the needs of the market. Examples of such gaps include;
A business opportunity is a favourable chance that an entrepreneur accepts for investment. It exists where there is a gap to be filled in the needs of the market. Generating Business Ideas and Sources of Business IdeasGenerating Business Ideas
For an entrepreneur, the first step in starting a business begins with an idea (business idea)
Business ideas are all about thoughts on possible businesses an entrepreneur can start or improve. It indicates among other things;
What are the Characteristics of an Entrepreneur?
A good entrepreneur should have the following characteristics;
Importance of entrepreneurship to an economy is as follows:
Meaning of entrepreneurship![]()
This is the process of identifying business opportunities and gathering the necessary resources to start and run a business.
An entrepreneur who identifies business opportunities and gets the necessary resources in order to start and run a business. The entrepreneur therefore creates new businesses or transform the existing ones in the face of risks and uncertainties in order to make profits. An entrepreneur is therefore a business owner; he starts and organizes the business (the factors of production in appropriate combination) SATISFACTION OF HUMAN WANTS
Introduction;
For us to lead our lives well, we require certain commodities and services. These goods and services satisfy our wants. Human wants can be referred to as the desires that human beings strive to satisfy by using goods and services. The satisfaction of these wants refers to the process of acquiring and using the required goods and services. Characteristics of human wants
Types of Human Wants |
Business Studies Notes Form 1 - 4![]()
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November 2022
AuthorAtika School Team |