Role of Business in Society

• Factors of production, ie land, labour, capital, and enterprise.
• Production of goods and provision of services, eg non-durable, durable, assets.
• Consumption of goods and services.
• How businesses satisfy human wants and create wealth.
• How businesses operate in sectors of industry – primary, secondary, and tertiary.
• Different sectors of the economy, ie private, public, and third.

Customer Satisfaction

• How businesses maximise customer service.
• How businesses measure customer service.
• Why customer service is important for business success.

Types of Business Organisation

• Ownership, control, decision-making, advantages and disadvantages of different types of organisation:
  • Sole trader
  • Partnerships
  • Private limited companies
  • Local government organisations
  • Social enterprises
  • Non-profit-making organisations/charities/voluntary organisations

• How enterprising skills and qualities help business development, eg decision-making, determination, creativity.
• Business plans documenting how organisations intend to operate and develop.

Objectives

• How objectives affect the operation of, and decisions made in, the different types of organisations listed above:
  • Profit
  • Provision of a service
  • Social responsibility
  • Survival
  • Customer satisfaction
  • Market share
  • Enterprise/innovation