Explain the different sectors of the economy, and state which sector your organisation falls under.
Task 1 of 3 Word Portfolio (ACs 1.1, 1.2, 2.1, 2.2, 5.1 & 5.2)
Instructions
Select an organisation for which you can find details and information easily and perform the following task:
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1. Explain the various resources required by a business to function effectively.
2. Explain the different sectors of the economy, and state which sector your organisation falls under.
3. Summarise the main types of legal structure, and explain which one is used by your chosen organisation
4. Copy the Business Objectives of the organisation and underline key business terms
You should then explain what those business terms mean
5. Create a table identifying the main stakeholders, their expectations and accountabilities
6. Create a mind map of the resources required by the organisation
7. An explanation of the concept of “Assets = Liabilities + Equity” and explain what a budget is
8. A table describing 3 ways to finance a business, including their advantages and disadvantages
Delivery and Submission
• ▪ 1-word document containing all of the above
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