NAT 5 Business Management

Mind Map by , created almost 6 years ago

National 5 Business Management (N5) Mind Map on NAT 5 Business Management, created by calum.mcdonald on 01/07/2014.

Created by calum.mcdonald almost 6 years ago
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NAT 5 Business Management
1 UNIT 1 Understanding Business
1.1 The Business Environment
1.1.1 The Role of Business Goods & Services Durable & Non Durable Tangible & Intangible Needs & Wants The Business Cycle Factors of Production Wealth Creation Sectors of Industry
1.1.2 Types of Business Organisation Private Sector Sole Traders Advantages Disadvantages Partnerships Advantages Disadvantages Private Limited Company Advantages Disadvantages Public Sector National Government Local Government Organisations Third Sector Non-Profit Making Organisations Social Enterprises
1.1.3 Customer Satisfaction How to Provide? Why is it Important?
1.1.4 Objectives What is an Objective? Examples
1.2 Business Influences
1.2.1 External Influences (PESTEC) Political Economic Social Technological Environmental Competitive
1.2.2 Internal Influences Financial Human Resources Current Technology
1.2.3 Stakeholders Internal Owners Shareholders Employees External Banks Customers Suppliers Local Community Pressure Groups Government National Local Interest & Influence
2 UNIT 2 Marketing & Operations
2.1 Marketing
2.1.1 What is Marketing? Why is Marketing Important? The Role of Marketing
2.1.2 Customers and Market Segments Why Segment? Methods of Segmentation
2.1.3 The Marketing Mix Product Why is it Important? New Product Development Product Life Cycle Introduction Growth Maturity Decline Branding Advantages Disadvantages Price Why is it Important? Deicing on a Price Pricing Strategies Low Price High Price Promotional Pricing Cost-Plus Pricing Psychological Pricing Place Why is it Important? Deciding on a Location Distribution Methods Advantages Disadvantages Promotion Why is it Important? Advertising Methods of Advertising Advantages Disadvantages Other Promotion Methods Special Offers Free Samples Celebrity Endorsement
2.1.4 Market Research Types of Market Research Field Research Advantages Disadvanatages Desk Research Advantages Disadvantages Why Carry Out Market Research? Methods of Market Research Personal Interview Focus Groups Postal Survey Telephone Survey Online Survey Hall Test Observation EPOS Social Neworking Website
2.2 Operations
2.2.1 What is Operations? IPO
2.2.2 Suppliers Selecting a Supplier
2.2.3 Stock Management What is Stock? Consequences of Too Little Stock Consequences of Too Much Stock
2.2.4 Methods of Production Job Production Advantages Disadvantages Batch Production Advantages Disadvantages Flow Production Advantages Disadvantages Capital vs Labour Intensive Advantages Disadvantages
2.2.5 Quality Methods of Ensuring Quality Quality Control Advantages Disadvantages Quality Management Advantages Disadvantages Other Methods Advantages Disadvantages Why is it Important?
2.2.6 Ethical & Environmental
3 UNIT 3 HRM & Finance
3.1 HRM
3.1.1 The Role of the HRM Recruitment & Selection Motivation & Training Providing Safe Working Conditions Relationships Employee Pay
3.1.2 Recruitment & Selection Recruitment Process Indentify a Vacancy Carry Out a Job Analysis Prepare a Job Description Prepare a Person Specification Advertise the Job Send Out Applications Selection Interviews Advantages Disadvantages References Test Advantages Disadvantages
3.1.3 Training Induction Training On-The-Job Training Advantages Disadvantages Off-The-Job Training Advantages Disadvantages
3.1.4 Motivation & Retaining Financial Incentives Salary Time Rate Overtime Piece Rate Bonus Commission Non-Financial Incentives (Flexible) Working Practices Examples Employee Benefits Employer Benefits Industrial Action Types of Industrial Action Impact
3.1.5 Legislation The Equalities Act The National Minimum Wage Act The Health & Safety at Work Act Data Protection Act
3.2 Finance
3.2.1 The Role of Finance
3.2.2 Sources of Finance Ownership Capital Bank Loan Friends & Family Government Grants Support Organisations Bank Overdraft Hire Purchase Mortgage
3.2.3 Break-Even Types of Costs Revenue
3.2.4 Profit Statements Gross Profit Net Profit
3.2.5 Technology in Finance Spreadsheets
3.2.6 Cash Budgeting Cause of Poor Cash Flow How to Improve? Cash Budgets Advantages

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