curtiscahill96
Mind Map by , created over 5 years ago

Business Studies Mind Map on F291, created by curtiscahill96 on 04/11/2014.

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curtiscahill96
Created by curtiscahill96 over 5 years ago
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F291
1 Added Value
1.1 Sale Price - Cost of Producing
1.2 Value can be added by
1.2.1 Building a Brand
1.2.2 Delivering Excellent Service
1.2.3 Offering Convenience
1.2.4 Product Features and Benefits
1.3 Benefits of Adding Value
1.3.1 Charge a Higher Price
1.3.2 Focus More on a Target Segment
1.3.3 Protection From Competitors
1.3.4 Creating a Point of Difference from Competitors
2 Opportunity Cost
2.1 The cost of an economic choice in terms of the next best alternative foregone.
2.1.1 Decision making always involves an opportunity cost.
2.1.1.1 Decisions have to be made based on priorities.
3 Factors of Production
3.1 Capital
3.1.1 Machines used to produce goods
3.2 Enterprise
3.2.1 Ideas of business owners
3.2.1.1 Organise Land, Labour & Capital
3.3 Land
3.3.1 Raw materials
3.3.1.1 Fish Stocks
3.3.1.2 Oil
3.3.1.3 Mineral Wealth
3.3.2 Infrastructure
3.3.3 Offices & Factories
3.4 Labour
3.4.1 Physical and Mental Workforce
4 Stakeholders
4.1 Any Individual or group who affect or are affected by a firms operations.
4.1.1 Customers
4.1.2 Government
4.1.3 Employees
4.1.4 Suppliers
4.1.5 Creditors
4.1.6 Managers
4.1.7 Shareholders
4.1.8 Directors
4.1.9 Consumers
4.1.10 Local Communities
5 Economic Sectors
5.1 Primary
5.1.1 Raw Materials
5.2 Secondary
5.2.1 Manufacturers
5.3 Tertiary
5.3.1 Retailers and Service Providers

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