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NAT 5 Business Management

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National 5 Business Studies Mind Map on NAT 5 Business Management, created by Karen Gordon on 26/11/2022.
Karen Gordon
Mind Map by Karen Gordon, updated more than 1 year ago More Less
calum.mcdonald
Created by calum.mcdonald over 10 years ago
Karen Gordon
Copied by Karen Gordon over 1 year ago
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Resource summary

NAT 5 Business Management
  1. UNIT 1 Understanding Business
    1. The Business Environment
      1. The Role of Business
        1. Goods & Services
          1. Durable & Non Durable
            1. Tangible & Intangible
            2. Needs & Wants
              1. The Business Cycle
                1. Factors of Production
                  1. Wealth Creation
                    1. Sectors of Industry
                    2. Types of Business Organisation
                      1. Private Sector
                        1. Sole Traders
                          1. Advantages
                            1. Disadvantages
                            2. Partnerships
                              1. Advantages
                                1. Disadvantages
                                2. Private Limited Company
                                  1. Advantages
                                    1. Disadvantages
                                  2. Public Sector
                                    1. National Government
                                      1. Local Government Organisations
                                      2. Third Sector
                                        1. Non-Profit Making Organisations
                                          1. Social Enterprises
                                        2. Customer Satisfaction
                                          1. How to Provide?
                                            1. Why is it Important?
                                            2. Objectives
                                              1. What is an Objective?
                                                1. Examples
                                              2. Business Influences
                                                1. External Influences (PESTEC)
                                                  1. Political
                                                    1. Economic
                                                      1. Social
                                                        1. Technological
                                                          1. Environmental
                                                            1. Competitive
                                                            2. Internal Influences
                                                              1. Financial
                                                                1. Human Resources
                                                                  1. Current Technology
                                                                  2. Stakeholders
                                                                    1. Internal
                                                                      1. Owners
                                                                        1. Shareholders
                                                                          1. Employees
                                                                          2. External
                                                                            1. Banks
                                                                              1. Customers
                                                                                1. Suppliers
                                                                                  1. Local Community
                                                                                    1. Pressure Groups
                                                                                      1. Government
                                                                                        1. National
                                                                                          1. Local
                                                                                        2. Interest & Influence
                                                                                    2. UNIT 2 Marketing & Operations
                                                                                      1. Marketing
                                                                                        1. What is Marketing?
                                                                                          1. Why is Marketing Important?
                                                                                            1. The Role of Marketing
                                                                                            2. Customers and Market Segments
                                                                                              1. Why Segment?
                                                                                                1. Methods of Segmentation
                                                                                                2. The Marketing Mix
                                                                                                  1. Product
                                                                                                    1. Why is it Important?
                                                                                                      1. New Product Development
                                                                                                        1. Product Life Cycle
                                                                                                          1. Introduction
                                                                                                            1. Growth
                                                                                                              1. Maturity
                                                                                                                1. Decline
                                                                                                                2. Branding
                                                                                                                  1. Advantages
                                                                                                                    1. Disadvantages
                                                                                                                  2. Price
                                                                                                                    1. Why is it Important?
                                                                                                                      1. Deicing on a Price
                                                                                                                        1. Pricing Strategies
                                                                                                                          1. Low Price
                                                                                                                            1. High Price
                                                                                                                              1. Promotional Pricing
                                                                                                                                1. Cost-Plus Pricing
                                                                                                                                  1. Psychological Pricing
                                                                                                                                2. Place
                                                                                                                                  1. Why is it Important?
                                                                                                                                    1. Deciding on a Location
                                                                                                                                      1. Distribution Methods
                                                                                                                                        1. Advantages
                                                                                                                                          1. Disadvantages
                                                                                                                                        2. Promotion
                                                                                                                                          1. Why is it Important?
                                                                                                                                            1. Advertising
                                                                                                                                              1. Methods of Advertising
                                                                                                                                                1. Advantages
                                                                                                                                                  1. Disadvantages
                                                                                                                                                2. Other Promotion Methods
                                                                                                                                                  1. Special Offers
                                                                                                                                                    1. Free Samples
                                                                                                                                                      1. Celebrity Endorsement
                                                                                                                                                  2. Market Research
                                                                                                                                                    1. Types of Market Research
                                                                                                                                                      1. Field Research
                                                                                                                                                        1. Advantages
                                                                                                                                                          1. Disadvanatages
                                                                                                                                                          2. Desk Research
                                                                                                                                                            1. Advantages
                                                                                                                                                              1. Disadvantages
                                                                                                                                                            2. Why Carry Out Market Research?
                                                                                                                                                              1. Methods of Market Research
                                                                                                                                                                1. Personal Interview
                                                                                                                                                                  1. Focus Groups
                                                                                                                                                                    1. Postal Survey
                                                                                                                                                                      1. Telephone Survey
                                                                                                                                                                        1. Online Survey
                                                                                                                                                                          1. Hall Test
                                                                                                                                                                            1. Observation
                                                                                                                                                                              1. EPOS
                                                                                                                                                                                1. Social Neworking Website
                                                                                                                                                                            2. Operations
                                                                                                                                                                              1. What is Operations?
                                                                                                                                                                                1. IPO
                                                                                                                                                                                2. Suppliers
                                                                                                                                                                                  1. Selecting a Supplier
                                                                                                                                                                                  2. Stock Management
                                                                                                                                                                                    1. What is Stock?
                                                                                                                                                                                      1. Consequences of Too Little Stock
                                                                                                                                                                                        1. Consequences of Too Much Stock
                                                                                                                                                                                        2. Methods of Production
                                                                                                                                                                                          1. Job Production
                                                                                                                                                                                            1. Advantages
                                                                                                                                                                                              1. Disadvantages
                                                                                                                                                                                              2. Batch Production
                                                                                                                                                                                                1. Advantages
                                                                                                                                                                                                  1. Disadvantages
                                                                                                                                                                                                  2. Flow Production
                                                                                                                                                                                                    1. Advantages
                                                                                                                                                                                                      1. Disadvantages
                                                                                                                                                                                                      2. Capital vs Labour Intensive
                                                                                                                                                                                                        1. Advantages
                                                                                                                                                                                                          1. Disadvantages
                                                                                                                                                                                                        2. Quality
                                                                                                                                                                                                          1. Methods of Ensuring Quality
                                                                                                                                                                                                            1. Quality Control
                                                                                                                                                                                                              1. Advantages
                                                                                                                                                                                                                1. Disadvantages
                                                                                                                                                                                                                2. Quality Management
                                                                                                                                                                                                                  1. Advantages
                                                                                                                                                                                                                    1. Disadvantages
                                                                                                                                                                                                                    2. Other Methods
                                                                                                                                                                                                                      1. Advantages
                                                                                                                                                                                                                        1. Disadvantages
                                                                                                                                                                                                                      2. Why is it Important?
                                                                                                                                                                                                                      3. Ethical & Environmental
                                                                                                                                                                                                                    3. UNIT 3 HRM & Finance
                                                                                                                                                                                                                      1. HRM
                                                                                                                                                                                                                        1. The Role of the HRM
                                                                                                                                                                                                                          1. Recruitment & Selection
                                                                                                                                                                                                                            1. Motivation & Training
                                                                                                                                                                                                                              1. Providing Safe Working Conditions
                                                                                                                                                                                                                                1. Relationships
                                                                                                                                                                                                                                  1. Employee Pay
                                                                                                                                                                                                                                  2. Recruitment & Selection
                                                                                                                                                                                                                                    1. Recruitment Process
                                                                                                                                                                                                                                      1. Indentify a Vacancy
                                                                                                                                                                                                                                        1. Carry Out a Job Analysis
                                                                                                                                                                                                                                          1. Prepare a Job Description
                                                                                                                                                                                                                                            1. Prepare a Person Specification
                                                                                                                                                                                                                                              1. Advertise the Job
                                                                                                                                                                                                                                                1. Send Out Applications
                                                                                                                                                                                                                                                2. Selection
                                                                                                                                                                                                                                                  1. Interviews
                                                                                                                                                                                                                                                    1. Advantages
                                                                                                                                                                                                                                                      1. Disadvantages
                                                                                                                                                                                                                                                      2. References
                                                                                                                                                                                                                                                        1. Test
                                                                                                                                                                                                                                                          1. Advantages
                                                                                                                                                                                                                                                            1. Disadvantages
                                                                                                                                                                                                                                                        2. Training
                                                                                                                                                                                                                                                          1. Induction Training
                                                                                                                                                                                                                                                            1. On-The-Job Training
                                                                                                                                                                                                                                                              1. Advantages
                                                                                                                                                                                                                                                                1. Disadvantages
                                                                                                                                                                                                                                                                2. Off-The-Job Training
                                                                                                                                                                                                                                                                  1. Advantages
                                                                                                                                                                                                                                                                    1. Disadvantages
                                                                                                                                                                                                                                                                  2. Motivation & Retaining
                                                                                                                                                                                                                                                                    1. Financial Incentives
                                                                                                                                                                                                                                                                      1. Salary
                                                                                                                                                                                                                                                                        1. Time Rate
                                                                                                                                                                                                                                                                          1. Overtime
                                                                                                                                                                                                                                                                            1. Piece Rate
                                                                                                                                                                                                                                                                              1. Bonus
                                                                                                                                                                                                                                                                                1. Commission
                                                                                                                                                                                                                                                                                2. Non-Financial Incentives
                                                                                                                                                                                                                                                                                  1. (Flexible) Working Practices
                                                                                                                                                                                                                                                                                    1. Examples
                                                                                                                                                                                                                                                                                      1. Employee Benefits
                                                                                                                                                                                                                                                                                        1. Employer Benefits
                                                                                                                                                                                                                                                                                        2. Industrial Action
                                                                                                                                                                                                                                                                                          1. Types of Industrial Action
                                                                                                                                                                                                                                                                                            1. Impact
                                                                                                                                                                                                                                                                                          2. Legislation
                                                                                                                                                                                                                                                                                            1. The Equalities Act
                                                                                                                                                                                                                                                                                              1. The National Minimum Wage Act
                                                                                                                                                                                                                                                                                                1. The Health & Safety at Work Act
                                                                                                                                                                                                                                                                                                  1. Data Protection Act
                                                                                                                                                                                                                                                                                                2. Finance
                                                                                                                                                                                                                                                                                                  1. The Role of Finance
                                                                                                                                                                                                                                                                                                    1. Sources of Finance
                                                                                                                                                                                                                                                                                                      1. Ownership Capital
                                                                                                                                                                                                                                                                                                        1. Bank Loan
                                                                                                                                                                                                                                                                                                          1. Friends & Family
                                                                                                                                                                                                                                                                                                            1. Government Grants
                                                                                                                                                                                                                                                                                                              1. Support Organisations
                                                                                                                                                                                                                                                                                                              2. Bank Overdraft
                                                                                                                                                                                                                                                                                                                1. Hire Purchase
                                                                                                                                                                                                                                                                                                                  1. Mortgage
                                                                                                                                                                                                                                                                                                                  2. Break-Even
                                                                                                                                                                                                                                                                                                                    1. Types of Costs
                                                                                                                                                                                                                                                                                                                      1. Revenue
                                                                                                                                                                                                                                                                                                                      2. Profit Statements
                                                                                                                                                                                                                                                                                                                        1. Gross Profit
                                                                                                                                                                                                                                                                                                                          1. Net Profit
                                                                                                                                                                                                                                                                                                                          2. Technology in Finance
                                                                                                                                                                                                                                                                                                                            1. Spreadsheets
                                                                                                                                                                                                                                                                                                                            2. Cash Budgeting
                                                                                                                                                                                                                                                                                                                              1. Cause of Poor Cash Flow
                                                                                                                                                                                                                                                                                                                                1. How to Improve?
                                                                                                                                                                                                                                                                                                                                  1. Cash Budgets
                                                                                                                                                                                                                                                                                                                                    1. Advantages
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