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GCSE Business · key term
The activity of identifying a business opportunity, organising resources and taking risks to turn an idea into a business.
Used by AQA and OCR
Paper 1, Paper 2
The activity of organising the other factors of production and taking the risk of starting and running a business.
Revise: Purpose and Foundations of Business ActivityThere are four: land, labour, capital and enterprise. They work together rather than in isolation.
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Paper 1
Identifying a business opportunity and organising resources to turn an idea into goods or services.
Revise: Purpose of Business ActivityEnterprise means identifying an opportunity and organising resources to turn an idea into goods or services. It links noticing what customers might need with taking action to provide it.