Contents have been designed to provide academic assistance to students of Ordinary Level & Advanced Level Accounting of Edexcel and CIE. It will also help those who are following other syllabuses of the same level.
Aims are the broad targets that an entrepreneur has at the back of their mind (for example, ‘to get rich’). These may or may not be talked about within the business, but eventually staff will come to understand them.
From aims come objectives. Aims are general but objectives are specific. Business people like to use the term SMART objectives. In other words, objectives should be:
Retailing is the process of selling goods or services directly to consumers for personal use. There are several types of retailing, each with its own characteristics and strategies. Here are some of the most common types:
Business organizations come in various forms, each with its own set of characteristics, advantages, and disadvantages. The choice of business organization is a crucial decision for entrepreneurs, as it affects legal, operational, and financial aspects of the business. The three main types of business organizations are sole proprietorships, partnerships, and corporations, each offering distinct features to cater to different needs and goals.