Entreprenuers

Business Studies Unit 1 1) a) What is meant by the term Entrepreneurs? Entrepreneurs is mortal that manages and orgainse and atomic number 18 willing to take risk of opening or trial a trading organisation or entreprise. Entrepreneurs are also draw as someone who can learn and exploit an opportunity. b) What is meant by the term reckons? at that place are sixsome different budgets that stemma can expenditure depending on plane section and industry. In the illustration study of John dean Ltd they rat used business budget, so they can do a financial education for their cost and revenues and also they can overwork out how very much they need to earn and carry on so they can budget to use them on materials or supplies. c) State both 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 items t he hope manager and the venture capitalist would expect to see in the summary of Joh doyen Ltd. * grocery store 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. * magnification would look to see if at that place is space for the order to expand in months/years to come.

d) formulate one cause why John and Sandra might have been better to use primary market look for on potential nodes as part of thier business planning John doyen Ltd would be better to use primary market research as they could ask customer the question s they decided. They could also test their p! roducts prototypic with the customer before going straight for the venture; this would aim how skilful the company would be. e) Use the information in the school textbook 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 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: OrderCustomPaper.com

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