• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

There are two main aspects to an Enterprise. One of them being Risks, the other Resources.

Extracts from this document...

Introduction

An Example of Enterprise There are two main aspects to an Enterprise. One of them being Risks, the other Resources. Mustafa comes from a Less Economically Developed Country. Mustafa's business is weighing passers-by on an old set of bathroom scales. In an enterprise the threat of risk can be disastrous. Risk arises from Choice. And choice also results in Opportunity Cost. Every time we make a choice we give up the opportunity to follow a different path. For example, I could either go to Scunthorpe or Skegness for my summer holidays. ...read more.

Middle

Resources, being another ingredient of an Enterprise. This is a major risk that Mustafa must decide on taking. Does Mustafa have the resources? If the bathroom scales breakdown after the first day, will he be able to afford another set of scales? And what if his service is irregular? Mustafa might have homework to do, to further his education, or his family might be ill and need looking after or even if he is physically unable to do the job himself due to illness. If Mustafa does succeed his business, there is a choice of completing his original goal and returning to his education or he could sacrifice the opportunity of going to school and start to expand his business. ...read more.

Conclusion

If Mustafa's business does fail then he could have had an education at school and later on in life could have started a much more efficient business. Mustafa's business not really a long-term business and if he desired to expand it would be difficult to do so, if his business is not successful in the first place. Profit is obviously important to Mustafa's business and without it survival time for him is short. He needs to make enough profit for his family or for himself and then he needs more profit to expand his business. As you can see there are a lot of questions involved when it comes to Choice and Opportunity. Risk plays a large role which can decide the success or the failure of Mustafa' Business. H/wk 02/05/07 ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level ICT in Business section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level ICT in Business essays

  1. Human resources

    the provision of loan guarantees by the Malta Development Corporation (1st October, 1997). "Small enterprise" means a person employing between one to ten persons (including the employer) who owns or operates plant and machinery or equipment, the net value of which does not exceed the sum of Lm80, 000 and

  2. 3. Consider the management of resources

    If the wrong candidate is selected for the job it causes problems such as he might find the job to difficult and decide to leave or be forced to leave and this will add to administration costs.

  1. Human Resources

    illegal for people under the age of 18 to serve or consume alcohol. The cleaners will be contracted from a cleaning company, so the business will not be paying the cleaner directly, instead there will be a contract drawn up between my business and the cleaning business.

  2. The Effectiveness of Scottish Enterprise

    improving and increasing support services and development of enterprise amongst young people and under-represented groups7. The first includes a new programme that has been developed jointly with the private sector. Initiatives were developed to improve access to finance. The second part is to be achieved by increasing the number of

  1. Till recently graduating seniors had two choices: get a job or go to grad ...

    The book would be made into a movie and thereupon forgotten, except by the more waspish sort of reviewers, among whom it would be a byword for bogusness like Milli Vanilli or Battlefield Earth. Maybe I got a little carried away with this example.

  2. Scottish Enterprise

    Typically a small business is owner managed, delivers products or services, serves local markets, and has a small share of the market. The small business tends to have few major rivals but twice as many minor rivals. Competition is typically regarded as strong.

  1. College breakdown

    Batley West Yorkshire WF17 6BL Dear Sir: I am writing to let you know that the new Salendine Health and Fitness Centre have now open. They are delighted to inform you if you are interested in joining the Fitness Centre.

  2. The two revolutions of Unilever China.

    which is located in Shanghai and limited by shares. This company is controlled by Unilever, which holds 77% of shares, and Shanghai Light Industry Holdings, which holds the rest of shares. In addition, Shanghai Lever, Shanghai Toothpaste, Shanghai Ponds, and Shanghai Elida, those initial joint ventures were consolidated as well.

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work