Considerations for Starting Up a Business Venture (Grade 11 NSC Matric Business Studies): Flashcards
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% of startups that fail
% of startups that fail
90%
Organisational culture meaning
Organisational culture meaning
Company personality: vision, values, work environment, behaviour
Business world environment characteristic
Business world environment characteristic
Dynamic and unpredictable
Environmental change cause: technology
Environmental change cause: technology
Tech advances force changes to business plans
Business growth warning
Business growth warning
Avoid growing too quickly
Cost-saving: advertising strategy
Cost-saving: advertising strategy
Joint campaigns with complementary businesses
Strategy definition
Strategy definition
Plan of action to achieve business goals
Operations definition
Operations definition
Implementing activities from action plan
Productivity definition
Productivity definition
How effectively inputs convert to outputs
Business size principle
Business size principle
Bigger isn't always better; larger = harder to manage