Aims - The overall long-term target or goal of an organisation. What it wants, needs, and intends to achieve.

Business ideas - Thinking processes on how to profitably create products, services, and processes

Business location - Geographical areas or premises where a business chooses to operate from. It could be local, national or international.

Business plan - A document outlining a company's future goals and tactics for achieving them.

Business purpose - The reason why a business was created which drives strategy.

Business structure - How a business is legally recognised. E.g. sole trader, partnership or limited company.

Competitors - Their objectives are to gain market share from rival businesses so will be interested in products and practices of competition to devise strategies to outperform them.

Current trends - The latest preferences and behaviours of customers.

Developing business - A business that has survived its initial start-up phase and is establishing a stable customer base.

Diversification - Developing a range of different goods and services to meet the needs of new customers.

Economic climate - The general state of the economic systems in which a company operates.

Flat structure - An organisational structure that has a wide span of control, few management levels and a short chain of command.

Gap in the market - A group of customers who's needs are not currently being met by current goods and services on offer.

Hierarchical structure - A formal or traditional structure where the organisational chart has many layers of authority.

International business - A business that operates in multiple countries

Likely demand - A prediction of the amount of a product or service that will be bought.

Local business - A business that operates in a small area.

Matrix structure - A flexible organisational structure in which teams are formed within functional areas and across functional areas.

National business - A business that operates in multiple locations within one country.

Objectives - The stated, measurable goals that a company sets in order to achieve its aims. The steps to be taken in order to achieve long-term goals.

Product - Items that are manufacturer or redistributed by a business in exchange for money.

Service - Non-tangible services provided by a business to its customers

Start-up - A business in the early stages of development. There is high investment requirements and low revenue at this stage.

Survival - The objective to keep the business in operation for the foreseeable future.

Trends - The general direction of behaviours.

Types of ownership - Sole trader, partnership, private limited company, public limited company and cooperative.

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