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Re: Analyse the possible purposes of business activity. [6]
Posted: Mon Oct 30, 2023 5:00 pm
by Sarah Shahzad
(Kn) Gain Profit (an) a possible purpose of the business activity could be to earn profit (an+) moreover, use the profits to further expand and enhance the business.
(Kn) Make products according to customer demands (an) the business could research and develop products that are in demand (an+) therefore this will attract more customers towards their businesses.
Re: Analyse the possible purposes of business activity. [6]
Posted: Mon Oct 30, 2023 5:09 pm
by Ibrahim Aamir
[KN] innovations
[AN] an business can produce new product and introduce it to the market
[AN+] due to the uniqueness of the product would lead to more sales generated
[KN] using the resources available
[AN] by using the resources available for the business they can produce goods and services which is needed in the market
[AN+] this would lead efficient use of resources
Re: Analyse the possible purposes of business activity. [6]
Posted: Mon Oct 30, 2023 7:06 pm
by Shanze Hussain
[KN] to meet customer needs
[AN] by conducting market researches and analyzing consumer behavior
[AN+] understanding consumer customer preferences and catering to thier needs can help create customer loyalty help gain market share and achieve a sustainable amount of growth in thier business
[KN] to create value
[AN] a business engages in activities to create value for thier customers, stakeholders and society
[AN+]it helps businesses attract and retain customers, build strong relationships, and differentiate themselves as competitors
Re: Analyse the possible purposes of business activity. [6]
Posted: Mon Oct 30, 2023 7:17 pm
by khadija nasir
[kn] to satisfy consumer needs and wants
[an] supplying goods and services that consumers want hence attracting more customers
[an+] increased sales
[kn] boosting revenue
[an] every business has an objective to earn profits and businesses try to differentiate themselves from their competitors in order to stand out
[an+] to attract as many customers while maintaining their image
Re: Analyse the possible purposes of business activity. [6]
Posted: Sun Nov 05, 2023 4:18 am
by Abbas17
(KN) To employ people
(AN) as by doing this, they can be payed wages and hence be allowed to consume products made by others,
(AN+) meaning through which people will be able to fulfill their needs.
(KN) Combine factors of production to satisfy customer wants
(AN) as people have unlimited wants and there are limited resources therefore it's the purpose of every business to fulfill those desired wants by combining the factors of production,
(AN+) so that scarcity could be reduced and goods and services could be produced.