GCSE Business Unit 1 Topic 1 What are the different types of legal structure? Factors affecting location include: What is a business? and Why Start up a business? Reasons for starting a business? Type of ownership Typical Example Advantages Disadvantages What factors affect the location of a business? What is a stakeholder? Examples of stakeholders What is the difference between limited and unlimited liabilities? What is a business plan? And why is planning important Setting Business Aims and Objectives An objective is An aim is What is a business plan and give three reasons for producing a business plan Information included in a business plan Examples of aims of a business
GCSE Business Unit 1 Topic 2 What is Market Research? What is the marketing mix and what is it used for? Explain what a business must consider for each of the 4 P s Product Why do businesses carry out Market Research? Price What is the Marketing Mix? Place What is Primary Market Research? Give examples What is Secondary Market Research? Give examples Type of Promotion Promotion Advantages Disadvantages What is e-commence? Give three benefits of e-commerce to a business. Give three drawbacks of e-commerce to a business. What does the term e-commerce mean?
GCSE Business Unit 1 Topic 3 What are the sources of finance available to a small business? How do you calculate profit? Revenue is. To calculate profit use this formula Profit = Revenue - Costs Costs are State and explain the six sources of finance available to a small business Name Selling Price Units sold per year Revenue Total Costs Profit Suit Shop 500 per suit 200 suits per year 70,000 Alex s Barber 10 a haircut 3,000 haircuts a year 19,000 Shay s Florist 15 a bunch 2,500 bunches a year 40,000 Jon s Motors 2500 per car 200 cars per year 100,000 Source of finance Benefits of source of finance Drawbacks of source of finance What is a cash flow forecast? And what is the difference between cash and profit? What is a cash flow forecast? Why is cash and cash flow important? Solutions to cash flow problems:
GCSE Business Unit 1 Topic 2 What are the stages of the recruitment process? How can we motivate employees? Why is it important to have motivated employees? Motivation is the desire to do something. People can be motivated by monetary or non-monetary methods. Step 1: Step 2: List at least three monetary methods of motivation - Step 3: Step 4: Topic 4: Step 5: List at least three non monetary methods of motivation - What is the difference between a full and part time employee? What is the difference between internal and external recruitment? What laws and legislation exist to protect employees? Explain at least two problems with having unmotivated employees? Name of Law Description of law What does it prevent? Ways a small business can advertise a vacancy What are the consequences for a small business of failing to follow these legislations?
GCSE Business Unit 1 Topic 5a State three benefits of using new technology in production List three ways technology has been used in the production of goods and services? How can technology make production of goods and services more efficient? Operational efficiency and product quality Describe what the term efficiency means Describe what the term quality means and why it is important. State two problems of using new technology in production What is Job Production? What is Batch Production? Describe what job production is and the main features of this method. Describe what batch production is and the main features of this method. State three examples of possible products made through job production State three examples of possible products made through batch production Explain the main differences between job and batch production Advantages of job production Disadvantages of job production Advantages of batch production Disadvantages of batch production
GCSE Business Unit 1 Topic 5b What is customer service? Describe what does the term customer service means? How has ICT helped to improve the service that is offered to customers? List three benefits the internet has provided customers with to improve customer service Consumer Protection List three limitations the internet has provided customers with to improve customer service Consumers are protected by the law when they buy goods and services. Businesses must follow important consumer protection laws. List two ways that a business can offer good customer service before the sale? Name of Law Description of law What does it prevent? List three ways that a business can offer good customer service at the time of purchase? State and explain two benefits to a business of offering good customer service What is e-commence? List three ways that a business can offer good customer service after the sale? What are the consequences of failing to follow consumer protection legislation?