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Unit 1
Descripción
GCSE Business Studies Mapa Mental sobre Unit 1, creado por Miss Maclachlan el 28/11/2016.
Sin etiquetas
business studies
gcse
Mapa Mental por
Miss Maclachlan
, actualizado hace más de 1 año
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Creado por
Miss Maclachlan
hace más de 7 años
26
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0
Resumen del Recurso
Unit 1
Marketing
Price
Price can influence customer perception of the brand
Place
How the product gets from the producer to the consumer
Product
Should have a USP
Promotion
Needs to be appropriate for small businesses
Local newspapers
Leaflets
Sales Promotions
Finance
Sources of finance
E,g, loan from family and friends
Bank Loan
Overdraft
Government grant
Cash Flow
NOT RELATED TO PROFIT
A forecast of cash inflows and outflows
To improve cash flow- decrease trade credit or reduce/reschedule outflows
Profit= revenue - costs
People in Business
2 types of recruitment- internal and external
Internal- cheaper, more motivating but not as many candidates to choose from
External- more expensive but could get better skills
Starting a Business
Location- infrastructure, cost, customers etc
Franchisee- get marketing, training and advice to start business
Sole trader and partnership- unlimited liability
Operations Management
Job production
Bespoke, specialised, high price, high quality
Batch production
Produced in groups, more efficient
Customer service
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