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What is value added?
Two reasons why adding value is important to a business.
How can a business add value?
Disadvantages of adding value
How customers are affected by added value
How shareholders are affected by added value
What are stakeholders
Name 5 different types of stakeholders
What are the two types of SOF
Why might a business need more finance?
What is a short term SOF
What is a medium term SOF
What is a long term SOF
( An internal SOF)
What is retained profit
Advantage and disadvantage of retained profit
When should this SOF be used
(An internal SOF)
What is working capital
Advantage and disadvantage of working capital
When should this SOF be used
(An external SOF)
What is an overdraft
Advantage and disadvantage of an overdraft
When should this SOF be used
(An external SOF)
What is hire purchase
Advantage and disadvantage of hire purchase
When should hire purchase be used
Key factors to consider when choosing most appropriate source of finance
(Relationship between SOF and a firm's legal ownership)
Sole trader
Partnership
Private limited company
(LTD)
Public limited company
(PLC)
What is cash flow
What is a cash flow forecast
What is a cash flow statement
What's the difference between cash flow and profit
What is market research?
What is training
What is on the job training
Advantages and disadvantages of on the job training
What is off the job training
Advantages and disadvantages of off the job training
3 advantages of using interviews
3 disadvantages of using interviews
What is an aptitude test?
What are recruitment agencies?
What is a psychometric test?
Different methods of recruitment and selection?
What is labour turnover?
Reasons why marketing research is carried out
What is the ultimate aim of marketing research?
What is quantitative data?
What is qualitative data?
What is primary data?
What is secondary data?
(Examples of market research)
Primary
(Examples of market research)
Secondary
Additional factors to consider in relation to market research
Advantages & disadvantages of PRIMARY market research
Advantages and disadvantages of SECONDARY market research
3 different types of sampling involved in market research
What is sampling?
3 reasons why a vacancy may arise?
4 pieces of information contained in a job description
4 pieces of information contained in a person specification
Give two advantages of internal recruitment
Give 2 disadvantages of internal recruitment
Give 2 advantages of external recruitment
Give 2 disadvantages of external recruitment
Name 2 ways that a business may advertise a vacancy internally
Name 3 ways that a business may advertise a vacancy externally
Why might aptitude tests be beneficial to the business?
Why may psychometric tests be beneficial?
2 factors that a business should consider in order to ensure an interview is successful and they are recruiting the right applicant for the job.
The employer must provide the new employeee with a contract within 2 months of starting work. List at least 4 things that should be included in this contract.
What is induction training and what does in involve
Discuss benefits of training to the business
.. Give two disadvantages of it
What is motivation?
If there is a change within a business, explain 2 implications for HR
What are franchises?
Advantages for the franchiser
Advantages for the franchisee
What is a private limited company?
What is an example of an LTD?
Advantages and disadvantages of private limited companies
What's a public limited company?
An example of a public limited company?
Advantages and disadvantages of PLC's
Similarities between a private and a public limited company
What is a sole trader?
Advantages and disadvantages of a sole trader
What is a partnership?
Advantages and disadvantages of partnerships
What is an entrepreneur
What is flotation
What are dividends
What are directors
What is an emerger
What is a cooperative business
What is a chairman
Give 5 reasons for business failure
What is a franchisee?
What is royalty
What are the aims of public corporations?
What are the aims of the private sector?
Types of public sector organisations
What is privatisation
What is nationalisation?
Advantages and disadvantages of privatisation
What are economies of scale?
Name the 6 different types of EOS
What is diseconomies of scale?
Types of diseconomies of scales
What is transparency
What are the consequences of poor Accountability
What does being accountable mean?
Draw the demand curve
What does the demand curve show?
What would make a shift in the demand curve?
What is an inferior good?
Why do complements make shifts in the demand curve?
Draw the supply curve
What is the equilibrium price?
What is excess supply?
What is quantity demanded?
What is meant by the market structure
What is meant by perfect competition?
What is meant by monopolistic competition?
What is oligopoly?
What is monopoly?
What is a barrier to entry?
What is a homogeneous product?
What is a differentiated product?
What is ethical behaviour?
Examples of behaving unethically
Benefits of ethical behaviour to business
Disadvantages to businesses of acting ethically
What is an e-business
Advantages and disadvantages of e-businesses
How has technology improved the primary sector?
How has technology improved the secondary sector?
How has technology improved the tertiary sector?
What are the opportunities with technological changes?
Threats of technological change
How do social changes affect businesses?
