BUSS1 Syllabus CAF

Rosie Ngugi
Mind Map by Rosie Ngugi, updated more than 1 year ago
Rosie Ngugi
Created by Rosie Ngugi over 5 years ago
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Mind Map on BUSS1 Syllabus CAF, created by Rosie Ngugi on 09/05/2014.

Resource summary

BUSS1 Syllabus CAF
1 Starting a business
1.1 Enterprise
1.1.1 enterprise and entrepreneurs, the importance of risk and rewards such as profit, the notion of opportunity cost, motives for becoming an entrepreneur, government support for enterprise and entrepreneurs
1.2 Generating and Protecting Business ideas
1.2.1 sources of business ideas, the identification of a product or market niche, franchises, copyright, patents and trademarks.
1.3 Transforming Resources into Goods and Services
1.3.1 inputs, outputs and the nature of the transformation of resources into finished products, adding value
1.4 Conducting Start-up Market Research
1.4.1 methods of primary and secondary market research, qualitative and quantitative research, size and types of samples, factors influencing the choice of sampling methods.
1.5 Understanding Markets
1.5.1 the nature and types of markets, the importance of demand, types of market segmentation, market size, growth and share.
1.6 Choosing the Right Legal Structure for the Business
1.6.1 sole traders, partnerships, private limited companies and public limited companies, not-for-profit businesses.
1.7 Raising Finance
1.7.1 sources of finance available to start businesses.
1.8 Locating the Business
1.8.1 factors influencing start-up location decisions
1.9 Employing People
1.9.1 types of employees used in small businesses,using consultants and advisors.
2 Financial Planning
2.1 Calculating Costs, Revenues and Profits
2.1.1 fixed, variable and total costs, price, total revenue and profit.
2.2 Using Break-Even Analysis to Make Decisions
2.2.1 contribution and contribution per unit, calculation of break-even output, construction of break-even charts, analysing the effects of changing variables on break-even charts.
2.3 Using Cash Flow Forecasting
2.3.1 the nature of cash flow, how to forecast cash flow, the structure of a cash flow forecast, why businesses forecast cash flow.
2.4 Setting Budgets
2.4.1 income, expenditure and profit budgets, the process of setting budgets, problems in setting budgets.
2.5 Assessing Business Start-ups
2.5.1 objectives of business start-ups, strengths and weaknesses of a business idea and/or plan, why start-ups can be risky, why start-up businesses may fail.
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