Understanding the nature and purpose of business key terms

financial decision-making

financial decision-making is a Business concept used to analyse Explain why businesses exist and why they set objectives such as profit, growth, survival, cash flow and social or ethical objectives.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

Business purpose and objectives

Business purpose and objectives should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

profit

profit affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.

Business purpose and objectives

Business purpose and objectives is a Business concept used to analyse Analyse the relationship between a business mission and its objectives.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

mission

mission should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

Business purpose and objectives decision

Business purpose and objectives decision affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.

financial decision-making

financial decision-making is a Business concept used to analyse Calculate and interpret profit using revenue, fixed costs, variable costs and total costs.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

Measuring profit

Measuring profit should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

revenue

revenue affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.

financial decision-making

financial decision-making is a Business concept used to analyse Explain why profit is important when assessing business performance and decision making.. A strong answer defines it, applies it to a named business context and explains the commercial consequence.

Measuring profit

Measuring profit should be judged by linking it to objectives such as profit, survival, growth, competitiveness, efficiency or customer satisfaction.

profit

profit affects stakeholders differently, so analysis should consider owners, managers, employees, customers, suppliers or investors before reaching a judgement.