NAT 5 Business Management

calum.mcdonald
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.

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calum.mcdonald
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
1.1.1.1 Goods & Services
1.1.1.1.1 Durable & Non Durable
1.1.1.1.2 Tangible & Intangible
1.1.1.2 Needs & Wants
1.1.1.3 The Business Cycle
1.1.1.4 Factors of Production
1.1.1.5 Wealth Creation
1.1.1.6 Sectors of Industry
1.1.2 Types of Business Organisation
1.1.2.1 Private Sector
1.1.2.1.1 Sole Traders
1.1.2.1.1.1 Advantages
1.1.2.1.1.2 Disadvantages
1.1.2.1.2 Partnerships
1.1.2.1.2.1 Advantages
1.1.2.1.2.2 Disadvantages
1.1.2.1.3 Private Limited Company
1.1.2.1.3.1 Advantages
1.1.2.1.3.2 Disadvantages
1.1.2.2 Public Sector
1.1.2.2.1 National Government
1.1.2.2.2 Local Government Organisations
1.1.2.3 Third Sector
1.1.2.3.1 Non-Profit Making Organisations
1.1.2.3.2 Social Enterprises
1.1.3 Customer Satisfaction
1.1.3.1 How to Provide?
1.1.3.2 Why is it Important?
1.1.4 Objectives
1.1.4.1 What is an Objective?
1.1.4.2 Examples
1.2 Business Influences
1.2.1 External Influences (PESTEC)
1.2.1.1 Political
1.2.1.2 Economic
1.2.1.3 Social
1.2.1.4 Technological
1.2.1.5 Environmental
1.2.1.6 Competitive
1.2.2 Internal Influences
1.2.2.1 Financial
1.2.2.2 Human Resources
1.2.2.3 Current Technology
1.2.3 Stakeholders
1.2.3.1 Internal
1.2.3.1.1 Owners
1.2.3.1.2 Shareholders
1.2.3.1.3 Employees
1.2.3.2 External
1.2.3.2.1 Banks
1.2.3.2.2 Customers
1.2.3.2.3 Suppliers
1.2.3.2.4 Local Community
1.2.3.2.5 Pressure Groups
1.2.3.2.6 Government
1.2.3.2.6.1 National
1.2.3.2.6.2 Local
1.2.3.3 Interest & Influence
2 UNIT 2 Marketing & Operations
2.1 Marketing
2.1.1 What is Marketing?
2.1.1.1 Why is Marketing Important?
2.1.1.2 The Role of Marketing
2.1.2 Customers and Market Segments
2.1.2.1 Why Segment?
2.1.2.2 Methods of Segmentation
2.1.3 The Marketing Mix
2.1.3.1 Product
2.1.3.1.1 Why is it Important?
2.1.3.1.2 New Product Development
2.1.3.1.3 Product Life Cycle
2.1.3.1.3.1 Introduction
2.1.3.1.3.2 Growth
2.1.3.1.3.3 Maturity
2.1.3.1.3.4 Decline
2.1.3.1.4 Branding
2.1.3.1.4.1 Advantages
2.1.3.1.4.2 Disadvantages
2.1.3.2 Price
2.1.3.2.1 Why is it Important?
2.1.3.2.2 Deicing on a Price
2.1.3.2.3 Pricing Strategies
2.1.3.2.3.1 Low Price
2.1.3.2.3.2 High Price
2.1.3.2.3.3 Promotional Pricing
2.1.3.2.3.4 Cost-Plus Pricing
2.1.3.2.3.5 Psychological Pricing
2.1.3.3 Place
2.1.3.3.1 Why is it Important?
2.1.3.3.2 Deciding on a Location
2.1.3.3.3 Distribution Methods
2.1.3.3.3.1 Advantages
2.1.3.3.3.2 Disadvantages
2.1.3.4 Promotion
2.1.3.4.1 Why is it Important?
2.1.3.4.2 Advertising
2.1.3.4.2.1 Methods of Advertising
2.1.3.4.2.1.1 Advantages
2.1.3.4.2.1.2 Disadvantages
2.1.3.4.3 Other Promotion Methods
2.1.3.4.3.1 Special Offers
2.1.3.4.3.2 Free Samples
2.1.3.4.3.3 Celebrity Endorsement
2.1.4 Market Research
2.1.4.1 Types of Market Research
2.1.4.1.1 Field Research
2.1.4.1.1.1 Advantages
2.1.4.1.1.2 Disadvanatages
2.1.4.1.2 Desk Research
2.1.4.1.2.1 Advantages
2.1.4.1.2.2 Disadvantages
2.1.4.2 Why Carry Out Market Research?
2.1.4.3 Methods of Market Research
2.1.4.3.1 Personal Interview
2.1.4.3.2 Focus Groups
2.1.4.3.3 Postal Survey
2.1.4.3.4 Telephone Survey
2.1.4.3.5 Online Survey
2.1.4.3.6 Hall Test
2.1.4.3.7 Observation
2.1.4.3.8 EPOS
2.1.4.3.9 Social Neworking Website
2.2 Operations
2.2.1 What is Operations?
2.2.1.1 IPO
2.2.2 Suppliers
2.2.2.1 Selecting a Supplier
2.2.3 Stock Management
2.2.3.1 What is Stock?
2.2.3.2 Consequences of Too Little Stock
2.2.3.3 Consequences of Too Much Stock
2.2.4 Methods of Production
2.2.4.1 Job Production
2.2.4.1.1 Advantages
2.2.4.1.2 Disadvantages
2.2.4.2 Batch Production
2.2.4.2.1 Advantages
2.2.4.2.2 Disadvantages
2.2.4.3 Flow Production
2.2.4.3.1 Advantages
2.2.4.3.2 Disadvantages
2.2.4.4 Capital vs Labour Intensive
2.2.4.4.1 Advantages
2.2.4.4.2 Disadvantages
2.2.5 Quality
2.2.5.1 Methods of Ensuring Quality
2.2.5.1.1 Quality Control
2.2.5.1.1.1 Advantages
2.2.5.1.1.2 Disadvantages
2.2.5.1.2 Quality Management
2.2.5.1.2.1 Advantages
2.2.5.1.2.2 Disadvantages
2.2.5.1.3 Other Methods
2.2.5.1.3.1 Advantages
2.2.5.1.3.2 Disadvantages
2.2.5.2 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
3.1.1.1 Recruitment & Selection
3.1.1.2 Motivation & Training
3.1.1.3 Providing Safe Working Conditions
3.1.1.4 Relationships
3.1.1.5 Employee Pay
3.1.2 Recruitment & Selection
3.1.2.1 Recruitment Process
3.1.2.1.1 Indentify a Vacancy
3.1.2.1.2 Carry Out a Job Analysis
3.1.2.1.3 Prepare a Job Description
3.1.2.1.4 Prepare a Person Specification
3.1.2.1.5 Advertise the Job
3.1.2.1.6 Send Out Applications
3.1.2.2 Selection
3.1.2.2.1 Interviews
3.1.2.2.1.1 Advantages
3.1.2.2.1.2 Disadvantages
3.1.2.2.2 References
3.1.2.2.3 Test
3.1.2.2.3.1 Advantages
3.1.2.2.3.2 Disadvantages
3.1.3 Training
3.1.3.1 Induction Training
3.1.3.2 On-The-Job Training
3.1.3.2.1 Advantages
3.1.3.2.2 Disadvantages
3.1.3.3 Off-The-Job Training
3.1.3.3.1 Advantages
3.1.3.3.2 Disadvantages
3.1.4 Motivation & Retaining
3.1.4.1 Financial Incentives
3.1.4.1.1 Salary
3.1.4.1.2 Time Rate
3.1.4.1.3 Overtime
3.1.4.1.4 Piece Rate
3.1.4.1.5 Bonus
3.1.4.1.6 Commission
3.1.4.2 Non-Financial Incentives
3.1.4.3 (Flexible) Working Practices
3.1.4.3.1 Examples
3.1.4.3.2 Employee Benefits
3.1.4.3.3 Employer Benefits
3.1.4.4 Industrial Action
3.1.4.4.1 Types of Industrial Action
3.1.4.4.2 Impact
3.1.5 Legislation
3.1.5.1 The Equalities Act
3.1.5.2 The National Minimum Wage Act
3.1.5.3 The Health & Safety at Work Act
3.1.5.4 Data Protection Act
3.2 Finance
3.2.1 The Role of Finance
3.2.2 Sources of Finance
3.2.2.1 Ownership Capital
3.2.2.2 Bank Loan
3.2.2.3 Friends & Family
3.2.2.4 Government Grants
3.2.2.4.1 Support Organisations
3.2.2.5 Bank Overdraft
3.2.2.6 Hire Purchase
3.2.2.7 Mortgage
3.2.3 Break-Even
3.2.3.1 Types of Costs
3.2.3.2 Revenue
3.2.4 Profit Statements
3.2.4.1 Gross Profit
3.2.4.2 Net Profit
3.2.5 Technology in Finance
3.2.5.1 Spreadsheets
3.2.6 Cash Budgeting
3.2.6.1 Cause of Poor Cash Flow
3.2.6.2 How to Improve?
3.2.6.3 Cash Budgets
3.2.6.3.1 Advantages

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