A-Level AQA Business Revision Unit 1 (Part 16) : Business Start Ups

Business objectives need to be:

- Specific

- Measurable

- Agreed

- Realistic

- Time specific

A business' success depends upon it's objectives

Profit satisficing - Making enough profit without risking too much stress or loss of control through employment of too many professional managers

Satisficing is more personal opinion (peace of mind) so is not relevant to the business

What are the risks for start ups?

- Owners lacking skills - Lack of finance - Victims of their own success

- Poor marketing - Unexpected costs - Poor location

- Low/no demand - Unlimited liability - No USP

This concludes the revision notes for the BUSS1 exam.

I hope the notes are helpful and best of luck in the exam!!