Business Management Review

VCE Business Management is split into how many Units of Study?

Area of Study 1 is referred to as:

External Business Motivation and Planning

Internal Business Environment and Planning

The Business Idea

The concept of entrepreneurship refers to:

What is left after business expenses have been deducted from money and earned from revenue

The act of starting and operating a new business in response to opportunities, assuming all the risk in the hope of making a profit.

Any activity conducted by an individual or individuals to produce and sell goods and services that satisfy the needs of society, as well as making a profit.

Entrepreneurship contains three components:

Pursuing Business Opportunities, Innovation and Seeking Growth

Profit, Technological Development and Research

What type of businesses are listed on the Australian Stock Exchange (ASX), which facilitates the trade of shares?

Private Business

Public Business

A business containing 20 - 199 employees is classified as a:

Small Business

Medium-Sized Business

Large-Scale Business

Using Chapter 1 from your VCE Business Management Textbook, identify and describe the ambition/story of one famous entrepreneur:

Using one example, describe the purpose of a private business:

Which of the following are motivation(s) behind starting a business:

To fulfil a social need

The desire for financial and personal independence

To communicate with members of the public

To fulfil a market need

To showcase products and services for the public

To make a profit

Using Page 13 from your textbook, describe the purpose of SecondBite.

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