• 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

    whose annual turnover does not exceed the sum of Lm250, 000 or such other number of persons, net value of plant, machinery or equipment, or any other amount of annual turnover as the Minister may by notice in the Gazette prescribe.

  2. In this coursework I need to produce a detailed business report on one medium-sized ...

    It is both quicker and more cost-effective than telephone, post or fax, and eliminates errors due to loss, or to wrongly printed orders. EDI is also used for: * sending sales forecasts so that suppliers can anticipate demand and reduce lead-times for stock to reach the stores * securing the

  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. 3. Consider the management of resources

    When employing people, you need to know exactly what the person is required to do. This way there will be no confusion. A job description will describe what there responsibilities will be, who will be there manager and what skills they will be required to have to carry out the job that they are applying for.

  1. Scottish Enterprise

    Most UK businesses are very small. Two thirds are owned and run by one person. Nearly 90% employ fewer than 6 people. They are also an important source of employment. Just over 2.5 million UK workers are self employed: 1 in 8 of all workers.

  2. The Effectiveness of Scottish Enterprise

    Its criticisms of the strategy employed included a pre-occupation with the number of business start-ups in itself, inadequate integration between major strategic areas, lack of informal support, insufficient involvement of the private sector and under-representation of women and young people.

  1. Promotion - I am part of the Young Enterprise scheme, which is a national ...

    Our promotional objectives for the campaign are: Promotional objectives Description To make consumers aware or increase awareness of our product To do this we will have to advertise effectively. We have made leaflets, posters, brochures, and also created a website to promote our company and products.

  2. The two revolutions of Unilever China.

    Unilever research facility * Acquired balance of Guangdong Lipton Foods which was producing famous English tea drink in China, Hefei Lever, and transformed these businesses into wholly owned subsidiaries late * Jing Hua, the Chinese traditional tea maker based on Beijing, acquired and merged with Unilever Foods (China)

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