Entreprenuers

Business Studies
Unit 1
1)
a) What is meant by the term Entrepreneurs?
Entrepreneurs is someone that manages and orgainse and are willing to take risk of opening or trial a trading organisation or entreprise. Entrepreneurs are also draw as someone who can identify and exploit an opportunity.
b) What is meant by the term reckons?
There are six different budgets that business can use depending on department and industry. In the illustration study of John dean Ltd they shit used business budget, so they can do a financial education for their cost and revenues and also they can work out how very much they need to earn and save so they can budget to use them on materials or supplies.

c) State two non-financial items the brim manager or a venture capitalist would conceptualise to see in the business plan for John dean Ltd before agreeing to finance the venture.
There is two non financial items the hope manager and the venture capitalist would expect to see in the summary of Joh doyen Ltd.
* Market share would look at the climate were they would like to sell, and what other business are nearly that area doing the similar idea.
* Expansion would look to see if at that place is space for the company to expand in months/years to come.




d) formulate one reason why John and Sandra might have been better to use primary market look for on potential customers 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 products prototypic with the customer before going straight for the venture; this would aim how beneficial the company would be.

e) Use the information in the 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 farthest 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: Orderessay



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