[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-315674-105":59,"doc-detail-315674-en":131},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":124,"head_meta":126,"extra_data":128,"updated_unix":130},105,"en","4-a-student-notes-business-management-unit-3-business-foundations-and-business-objectives","4% - A+ Student Notes - Business Management Unit 3 - Business Foundations and Business Objectives","","Area of Study 1 covers Business Foundations, focusing on types of business by size and how they can be distinguished using revenue levels, staffing numbers, and market share dominance. It explains sole traders, partnerships, private listed companies, public listed companies, social enterprises, and government business enterprises, including key advantages, disadvantages, and legal liability. The document also outlines Business Objectives, linking profit, market share growth, social needs, market gaps, and shareholder expectations to strategies and decision-making.",{"@graph":69,"@context":123},[70,84,106],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/4-a-student-notes-business-management-unit-3-business-foundations-and-business-objectives/315674/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/4-a-student-notes-business-management-unit-3-business-foundations-and-business-objectives/315674.png","ImageObject",300,407,{"name":92,"@type":93},"Bintang","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-11-10","2026-09-20",true,{"@type":102,"interactionType":103,"userInteractionCount":105},"InteractionCounter",{"@type":104},"ViewAction",13,{"@type":107,"mainEntity":108},"FAQPage",[109,115,119],{"name":110,"@type":111,"acceptedAnswer":112},"How can businesses be distinguished by size and performance?","Question",{"text":113,"@type":114},"They can be distinguished using revenue (e.g., small is less than 2 million), the number of staff, and market share dominance (small is local, medium has some dominance, large has significant dominance).","Answer",{"name":116,"@type":111,"acceptedAnswer":117},"What are the key features of a sole trader and their liabilities?",{"text":118,"@type":114},"A sole trader is a one-person business that must register an ABN and a business name with ASIC. The owner has unlimited liability, meaning personal assets may be used to pay business debts.",{"name":120,"@type":111,"acceptedAnswer":121},"What are the main business objectives covered in the notes?",{"text":122,"@type":114},"The notes cover making a profit, increasing market share, meeting a social need, meeting a gap in the market, and meeting shareholder expectations through return on investment. These objectives guide strategies and managerial decisions.","https://schema.org",{"og:url":83,"og:type":125,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":127,"canonical":83},"index,follow",{"doc_id":129,"site_id":62},315674,1790065378,{"code":4,"msg":5,"data":132},{"doc_id":129,"user_id":133,"nickname":92,"user_avatar":134,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":135,"file_id":136,"file_url":137,"file_type":138,"file_size":139,"view_count":105,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":140,"language":141,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":142,"faqs":143,"seo_title":144,"seo_description":67,"update_tm":145,"read_time":146,"preview_page_count":4},962085564381,"https://ap-avatar.wpscdn.com/davatar_6f874abed73319feea01a86fa6f0fab8","Area of Study 1– Business Foundations  \nTypes of Business  \nLarge Business +200 employees, Medium 20-199 employees, Small = less than 20  \nWays to distinguish-revenue (small = less than 2million, large = millions), numbers of staff, market share (small = customer locally, medium = some market dominance, large = significant) dominance)  \nSole Traders:  \nA sole trader (or sole proprietor) is a business with one person who exclusively owns and runs the business.  \n• It will need to register a business number with Australian Business Number (ABN) and will need to register a business name with Australian Securities Investments Commission (ASIC) .  \n• The owner is legally responsible for all aspects of the firm including unlimited liability - means that the owner of the business is personally responsible for any of the debts incurred by the business.  \n• If the business cannot pay debts, the owner may have to sell assets in order to raise enough money to payoff the liability.  \nAdvantages:  \n• Inexpensive to set up  \n• Complete Control  \n• Ease of establishment  \nDisadvantages:  \n• Unlimited Liability (personal assets at risk)  \n• Business often relies heavily on the owner, resulting in long hours.  \n• Business can cease to operate, if owner dies or gets ill – has no perpetuity  \nPartnership:  \nWhere two or more people (up to 20) own a business.  \n• Just like a sole trader, partnership is not a separate legal entity and therefore has unlimited liability.  \n• There are two types of partners, general and limited. A general partnership is where all partners are equally responsible for the management of the business and each has unlimited liability for the debts of the business.  \n• A limited partnership will have one or more general partners and one or more limited partners whose liability is limited to the proportion of their investment.  \nA partnership can help a business access larger amounts of capital as all partners can pool their funds together. It can also be beneficial if the partners have varying expertise -this can help the firm with a range of skills and experiences that contribute to future success.  \nAdvantages:  \n• Workload is shared among partners  \n• Business can continue if one partner leaves or dies  \n• Partners wealth can be pooled together to raise capital.  \nDisadvantages:  \n• Profits shared among partners  \n• It can be difficult to find suitable partners.  \nPrivate Listed Companies:  \nA company that is restricted to 50 shareholders. Shares are sold privately and not open to being publically traded. This means that share can only be traded with the permission of the other shareholders. This company has the letters 'Pty Ltd' after their name-Proprietary Limited.  \nAdvantages:  \n• Pay company tax rate rather than income tax rate on profits  \n• Limited Liability  \n• Company is a separate legal entity from the shareholders  \nDisadvantages:  \n• More expensive to set up  \n• Restricted number of shareholders.  \n• Shares cannot be traded freely  \nPublic Listed Companies:  \nThe company is listed on an exchange such as the ASX and its shares can be traded by the general public. Companies can raise money by offering shares to the public in exchange for money. In exchange, the shareholder owns part of the company and gets to share in any profits through dividends and any capital gains in share price. These companies have Ltd-Ltd-the word is at the end of the company's name which means the shareholder's liability is limited by the value of their shares.  \nAdvantages:  \n• Limited Liability  \n• Greater ability to raise large amounts of capital  \nDisadvantages:  \n• Costly to form  \n• Large reporting requirements  \nSocial Enterprises:  \nA social enterprise is a business that exists primarily to fulfil a vision that benefits the public or community rather than shareholders. They are commercially viable businesses that have a vision for an outcome that has a positive social impact on the community and they trade to fulfil that visio","cbCaikzIX0dLETM6","https://ap.wps.com/l/cbCaikzIX0dLETM6","pdf",889683,59,"English","# Area of Study 1 - Business Foundations\n## Types of Business\n## Business Objectives","[{\"question\":\"How can businesses be distinguished by size and performance?\",\"answer\":\"They can be distinguished using revenue (e.g., small is less than 2 million), the number of staff, and market share dominance (small is local, medium has some dominance, large has significant dominance).\"},{\"question\":\"What are the key features of a sole trader and their liabilities?\",\"answer\":\"A sole trader is a one-person business that must register an ABN and a business name with ASIC. The owner has unlimited liability, meaning personal assets may be used to pay business debts.\"},{\"question\":\"What are the main business objectives covered in the notes?\",\"answer\":\"The notes cover making a profit, increasing market share, meeting a social need, meeting a gap in the market, and meeting shareholder expectations through return on investment. These objectives guide strategies and managerial decisions.\"}]","4% - A+ Student Notes - Business Management Unit 3 - Business Foundations and Business Objectives | PDF",1789905743,149]