What a business is
| English | Français |
|---|---|
| business/ˈbɪznəs/ | entreprise |
| factors of production/ˈfæktəz ɒv prəˈdʌkʃn/ | facteurs de production |
| primary sector/ˈpraɪməri ˈsektə/ | secteur primaire |
| secondary sector/ˈsekəndəri ˈsektə/ | secteur secondaire |
| tertiary sector/ˈtɜːʃjəri ˈsektə/ | secteur tertiaire |
| sole trader/səʊl ˈtreɪdə/ | travailleur indépendant |
| unlimited liability/ʌnˈlɪmɪtɪd ˌlaɪəˈbɪlɪti/ | une responsabilité illimitée |
| partnership/ˈpɑːtnəʃɪp/ | société en nom collectif |
| limited company/ˈlɪmɪtɪd ˈkʌmpəni/ | société à responsabilité limitée |
| stakeholders/ˈsteɪkhəʊldəz/ | parties prenantes |
A business is an answer to somebody's problem
- A business · entreprise 企业 combines resources to produce goods or services that people will pay for.
- If nobody would pay, it is a hobby. The willingness to pay is what makes it a business.
- Factors of production · Facteurs de production 生产要素 are what it combines: land, labour, capital and enterprise.
A hobby can make you happy; the rent still prefers cash.
Which are factors of production? Choose all that apply.
Profit is a result of combining them, not one of the inputs. Enterprise is the fourth. · Le profit est le résultat de la combinaison de ces éléments, et non l'un des intrants. L'esprit d'entreprise constitue le quatrième facteur.
The three sectors
- The · Le primary sector 第一产业 extracts: farming, fishing, mining.
- The · Le secondary sector 第二产业 manufactures: turning materials into products.
- The · Le tertiary sector 第三产业 provides services, and it is where most people in a developed economy work.
- The mix shifts as an economy develops, which is why the sectors are a measure and not just a list.
Match each activity to its sector.
The mix shifts as an economy develops, which makes the sectors a measure rather than a list. · La répartition change à mesure qu'une économie se développe, ce qui fait des secteurs une mesure plutôt qu'une simple liste.
Ownership decides who loses
- A sole trader 个体经营 owns everything and has unlimited liability 无限责任: business debts reach personal assets.
- A partnership 合伙企业 shares both.
- A limited company 有限公司 separates the owners' money from the firm's, so a failure costs the investment and no more.
- That separation is the reason limited companies exist, and it is what makes raising money possible.
A sole trader's business fails owing money. What can creditors reach? · Une entreprise individuelle fait faillite et doit de l'argent. Que peuvent réclamer les créanciers ?
This is the most consequential difference between business forms, and why limited companies exist. · C'est la différence la plus conséquente entre les formes juridiques, et c'est pourquoi les sociétés à responsabilité limitée existent.
Stakeholders
- Stakeholders 利益相关者 are everyone affected: owners, employees, customers, suppliers, the community.
- Their interests genuinely conflict, and a decision that pleases all of them is usually a decision that changes nothing.
A café raises wages by 15%.
Employees gain. The owner's profit falls. Customers may face higher prices. Suppliers are unaffected.
A stakeholder question is marked on naming who and saying how much it matters to them — not on listing everyone you can remember. Four named stakeholders with an effect each beats eight names with none.
How is a stakeholder question marked?
Four named stakeholders with an effect each beats eight names with none. · Quatre parties prenantes identifiées avec un effet chacune valent mieux que huit noms sans aucun effet.
A shop opens on Sundays. Name one stakeholder and the effect on them. · Un magasin ouvre le dimanche. Nommez une partie prenante et l'effet sur celle-ci.
Example: "Staff lose a guaranteed day off, which may raise wage costs if Sunday hours are paid at a premium." · Exemple : « Les employés perdent un jour de repos garanti, ce qui peut augmenter les coûts salariaux si les heures travaillées le dimanche sont rémunérées à un taux supérieur. »
Unlimited liability is the single most consequential difference between business forms. A sole trader whose business fails can lose a house; a shareholder in a limited company loses only what they put in.
Do not treat "the community" as a stakeholder without saying how it is affected. Naming a stakeholder is worth nothing on its own; the mark is for the effect, and a vague gesture at society reads as padding.