EXAM PAPER TOPIC TRACKER

Transcription

1 AQA GCE Business Studies BUSS1- Planning & Financing a Business EXAM PAPER TOPIC TRACKER Keep track of which topics have been examined in the real papers for BUSS1

2 Enterprise and Entrepreneurs Entrepreneurs Explain a personal characteristic of the entrepreneur (3) Motives for starting a business Downsides of starting a business Risk and reward Opportunity cost Define opportunity cost (2) Government and entrepreneurs State two ways in which the government supports entrepreneurs (2) Generating and Protecting Business Ideas Sources of business ideas

3 What makes a good idea? Franchises Evaluation of decision to set up as an independent business rather than buy a franchise (17) What is meant by the term franchisee? (2) Protecting a business Idea Explain two possible benefits from having a patent (7) Analysis of benefits of a franchisor protecting business idea & products (10) Transformation Resources into Goods and Services Inputs to the transformation process Outputs from the transformation process Adding value Define adding value (2) Explain how personalizing a

4 product can add value (4) Business Plans Contents of a business plan Limitations of a business plan Sources of information and guidance Market Research for a Start-up Primary Research Define primary market research (2) State an alternative method of primary research to the ones used (1) Explanation of why a startup chooses to use primary market research (6) Analysis of the limitations of the primary research undertaken (9) Secondary Data Quantitative and What is meant by Explain how

5 qualitative research the term qualitative market research? (2) results of qualitative market research benefited the business (6) Sampling Understanding Markets Define quota sampling (2) Define random sample (2) Defining a market Calculate market share (3) Calculate the size of the market (4) Calculate the size of the market (4) Define an electronic market (2) Geographical markets Factors affecting demand Evaluation of the factors that affect demand for case study products (13) Introduction to market segmentation Why use market segmentation? Explain two benefits of targeting a market segment (6) Explain an advantage of targeting a niche market (4) Explain two problems of moving away from a market niche (6) Defining what is meant by a market segment (2) Demographic segmentation

6 Geographic segmentation Limitations of market segmentation Analysing market data State formula for calculating market share % (2) Choosing a Legal Structure Defining the different structures Comparing the different structures Social enterprises Sources of Finance for a Start-up Discussion of the decision to change from being a sole trader to a private limited company (14) Analysis of two benefits of forming a partnership (10) Internal sources External sources Analysing two Analysis of

7 benefits of arranging a bank overdraft (10) benefits of having a bank overdraft (10) Personal sources Choosing the right source of finance Evaluation of the choice of venture capital over bank loan as source of finance (14) Choosing the Business Location Factors affecting the choice of location Evaluation of the choice of location for the new business (17) Define the term infrastructure (2) Evaluation of the decision to locate a business in a city centre (15) Technology & homebased start-ups Employing People Full-time employees Part-time employees Explain two advantages of using part-time employees in the

8 business (6) Temporary contracts Analyse the possible reasons for employing a mixture of permanent and temporary employees (10) Consultants and advisers Analyse the benefits of using a consultant (9) Flexible working Calculating Costs, Revenues and Profits Meaning & importance of profit Measuring sales forecast customer numbers (3) Measuring costs profit expected profit in the first year of budgeted profit (5) expected profit (3)

9 trading (5) Using Break-even Analysis in Decision-making Contribution total contribution (4) Calculate the forecast total contribution for in 2010 (5) total contribution (3) Break-even level of output Using a table to calculate break-even output Calculate breakeven quantity (5) change in forecast breakeven output (7) Using a formula to calculate break-even output Using a chart to calculate break-even output Amending a breakeven chart to show impact of two changes (4) Changes to breakeven Calculate the change in breakeven output (6) Analysis and evaluation of options to reduce the break-even output (15)

10 Strengths and limitations of breakeven analysis Cash Flow Forecasting The nature of cash flow Define the term cash flow (2) How to forecast cash flow Complete the cash flow forecast by calculating missing figures for opening balance & net cash flow (2) Why cash flow forecasting is important Limitations of cash flow forecasting Evaluation of the role of cash flow forecasting in determining success of the business (15) Sources of information for cash flow forecasts Setting Budgets

11 Why businesses use budgets Sales budget What is meant by the term income budget? (2) Expenditure budget Profit budget profit budget (5) Methods of setting the budgets Limitations of budgets Discussion of difficulties faced by the entrepreneur in setting a first budget (14) Assessing Business Start-ups The risks and causes of business failure Evaluation of whether the startup will achieve its two key objectives (16) Evaluation of whether the startup is likely to achieve its main objective for the first year (15)

12 Assessing the business plan Evaluate whether the business is likely to achieve its business objectives (17) Evaluation of the role of business planning in the early success of the business (16) Evaluating the overall strength of business planning (16)

13 Keep up-to-date with AQA BUSS1 with these tutor2u resources: BUSS1 Specification Basics Key Notes BUSS1 Revision Guide BUSS1 Teacher Blog BUSS1 Specification Map BUSS1 Digital Course Companion BUSS1 Teacher PowerPoint Collection BUSS1 Practice Exam Papers (Volume 1) BUSS1 Revision Quizzes BUSS1 Student Revision Workshops (December) BUSS1 Key Term Quiz Bank BUSS1 Key Topic Revision Checklist BUSS1 Recommended Reading List BUSS1 Recommended Websites