Taken from the WJEC GCSE Specification. This first lesson covers an introduction to why businesses exist / start up as well as the charateristics of entrepreneurs.
Learners need to understand the nature of business activity and how it is concerned with meeting the needs of customers by providing a product or service, in most cases, for a profit.
At the heart of business activity is enterprise and entrepreneurs, who initiate and grow businesses, with a wide range of aims and objectives. These objectives often adapt as businesses grow and as the market and competitive environment in which they operate changes. Business organisations vary in size and ownership and operate in local, national and global contexts. Businesses have many stakeholders who are affected by business activity and can also impact on business behaviour.
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