BUSINESS STUDIES OPTION

Transcription

1 BUSINESS STUDIES OPTION

2 BUSINESS STUDIES ALL WEEKS Research is vital for your success in this exam your exam context is an electrical retailer who also manufactures mobile phones, MP3 players, ipods etc. Use the NEW Business Studies Interactive textbook to help you - ITS EASY TO FOLLOW AND EASY TO UNDERSTAND ITS EXCELLENT. Week 1 Business Environment Session 1 Private and public sector What are the differences between both types of sector? To which sector does S and S plc belong? Sole traders why set up business as a sole trader? What is unlimited liability? Advantages & disadvantages Session 2 - Private Limited Companies (ltd) Formation of a private limited company, advantages and disadvantages. How are shares sold? Who are they sold to? What is limited liability? Session 3 - Public Limited Companies (plc) Formation of a public limited company, advantages & disadvantages How are they funded? Where are the shares sold?

3 Week 2 Week 3 Business Environment Session 1 - Diversification and Growth What does diversification mean? How are the electrical retailers diversified already? How can they diversify further? Economies of scale (buying in bulk) Session 2 - Takeovers and Mergers What is a takeover? What is a merger? What are the benefits and drawbacks of SandS taking over another electrical company? Different methods of integration horizontal, lateral vertical. Session 3 - Aims & Objectives in a company. What are the general aims and objectives of most companies? Who are stakeholders in a company? Why might there be a conflict of interest in the aims of the company? Session 1 - Organisation Charts and SWOT analysis Show a typical organisation structure (by hierarchy) What does SWOT mean? Why do companies use SWOT analysis? Session 2 - Human Resources MGT Recruitment, training Recruitment procedure Types of training (induction, on-the-job, off-the-job). Employment laws (eg equal opportunities) At SandS most staff are part time what are the benefits and drawbacks of this? Session 3 - Motivation and trade unions Maslow s theory and fringe benefits. Trade Unions industrial disputes, collective bargaining (ACAS)

4 Week 4 Week 5 PRODUCTION Session 1 Quality assurance, quality control, quality circles Total Quality Management (TQM) Session 2 - FINANCE Sources of Finance Internal and external sources of finance. Which type of finance would be appropriate for different types of purchases within the health club eg equipment leasing Interest rates. Session 3 - Break Even Charts Plot a break even chart, label all the line graphs, label break even point Why do businesses use break even charts? What are limitations with break even charts? Session 1 - Cash flow forecasts Why does a business use a cash flow forecast. Complete a cash flow Why does a business need a business plan. Session 2 - Finance Profit and Loss Accounts Make calculations and analyse results Explain all the terms on a P & L Account Session 3 - Balance sheets Make calculations and analyse results Explain all the terms on a balance sheet Ratios (Higher tier pupils)

5 Week 6 Week 7 Session 1 - Market research Types of market research (desk, field) Why do market research? Why use an outside agency to do market research? Sessions 2 - Market segments and Branding Types of market segments (look at customer profiles website) Niche markets What is meant by branding? Logos and their impact. Session 3 The Marketing Mix Product what are the features of a product? Place - how is the product distributed to customers? Price - explain the pricing strategies Promotion types of promotion public relations, direct mail, sales promotion, advertising. Session 1 - Product Life Cycle What is the product life cycle? Understand the different stages involved in the product life cycle. Sessions 2 and 3 What could be areas for development eg selling white goods (freezers, fridges). International trade.