By Revision Genie
Enterprise and Entrepreneurs
Unit 1
Definition of Enterprise
Small and Medium Enterprises (SMEs)
Needs and Wants in Business
Identifying Business Opportunities
Role of Entrepreneurs in Business Creation
Running and Developing a Business
Financial Motives of Entrepreneurs
Non-Financial Motives of Entrepreneurs
Key Characteristics of Entrepreneurs
Essential Skills for Entrepreneurs
Importance of Entrepreneurs in the UK Economy
Impact of SMEs on the Economy
Role of SMEs in the Primary Sector
Role of SMEs in the Secondary Sector
Role of SMEs in the Tertiary Sector
Economic Benefits of Entrepreneurship
Social Benefits of Entrepreneurship
Stakeholders Affected by Entrepreneurs
Challenges Faced by Entrepreneurs
Evaluating Business Opportunities
Innovation in Entrepreneurship
Risk-Taking in Entrepreneurship
Entrepreneurship and Job Creation
Entrepreneurs as Change Agents
Entrepreneurs and Economic Growth
The Role of Government in Supporting SMEs
The Importance of Networking for Entrepreneurs
Ethical Considerations for Entrepreneurs
Global Opportunities for Entrepreneurs
The Role of Technology in Entrepreneurship
The Relationship Between Entrepreneurship and Innovation
Entrepreneurship in Different Industries
Entrepreneurial Decision-Making
Entrepreneurial Leadership and Vision
The Importance of Market Research for Entrepreneurs
Common Mistakes Made by Entrepreneurs
Case Studies of Successful Entrepreneurs
How SMEs Compete with Larger Businesses
The Role of Social Enterprises in the Economy
The Impact of Globalisation on SMEs
The Role of Creativity in Entrepreneurship
The Importance of Customer Focus for Entrepreneurs
The Role of Mentorship in Entrepreneurship
Sources of Funding for Entrepreneurs
The Importance of a Business Plan for Entrepreneurs
Entrepreneurs and Economic Resilience
Entrepreneurship in Local Communities
The Role of SMEs in Sustainable Development
The Impact of Entrepreneurship on Social Mobility
The Importance of Adaptability for Entrepreneurs
Entrepreneurial Challenges in a Dynamic Business Environment
Unit 2
Business Plans
Purpose of Business Plans
Defining Business Plans
Components of a Business Plan
Executive Summary in Business Plans
Business Description and Vision
Market Analysis in Business Plans
Marketing Strategy in Business Plans
Operational Plan in Business Plans
Financial Plan in Business Plans
Human Resources Plan in Business Plans
Risk Analysis in Business Plans
Legal Structure in Business Plans
SWOT Analysis in Business Plans
Setting Business Goals and Objectives
Target Audience Identification
Competitor Analysis in Business Plans
Importance of Business Plans to Entrepreneurs
Sources of Information for Business Plans
Role of Business Plans in Securing Finance
Evaluating Business Plan Feasibility
Monitoring Progress with Business Plans
Adapting Business Plans to Market Changes
Common Mistakes in Business Plans
Benefits of Having a Business Plan
Limitations of Business Plans
Key Metrics in Business Plans
How Business Plans Attract Investors
Role of Forecasting in Business Plans
Break-Even Analysis in Business Plans
Cash Flow Forecasts in Business Plans
Profit Projections in Business Plans
The Role of Technology in Business Plans
Importance of Market Research in Business Plans
Using Business Plans to Identify Risks
How Business Plans Guide Decision-Making
Business Plans for Different Business Structures
Adapting Business Plans for SMEs
Business Plans for Global Markets
Evaluating the Success of a Business Plan
Creating a Realistic Business Plan
The Role of Stakeholders in Business Plans
How Business Plans Help with Strategic Planning
Using Business Plans for Operational Efficiency
The Role of Business Plans in Marketing
Legal and Ethical Considerations in Business Plans
Common Tools for Business Planning
Writing a Business Plan Step-by-Step
Case Study: Successful Business Plans
How to Review and Update Business Plans
Examining Real-World Business Plan Examples
Unit 3
Markets and Market Structures
Definition of a Market
Types of Markets
Local vs Global Markets
Mass Markets
Niche Markets
Trade vs Consumer Markets
Product vs Service Markets
Seasonal Markets
Definition of Market Competition
Perfect Competition Characteristics
Monopolistic Competition Characteristics
Oligopoly Characteristics
Monopoly Characteristics
Impact of Market Structures on Business Behavior
Market Segmentation Definition
Bases for Market Segmentation
Benefits of Market Segmentation for Businesses
Impact of Market Segmentation on Customers
Definition of Demand and Supply
Equilibrium in the Market
Factors Affecting Demand
Factors Affecting Supply
Impact of Changes in Demand and Supply on Price
Impact of Changes in Demand and Supply on Quantity
Demand and Supply Diagrams
Shifts in Demand Curves
Shifts in Supply Curves
Effect of Shifts on Equilibrium Price and Quantity
Analysis of Factors Affecting Demand and Supply
Evaluation of Factors Affecting Demand and Supply
Price Elasticity of Demand Concept
Income Elasticity of Demand Concept
Inferior Goods Definition
Normal Goods Definition
Luxury Goods Definition
Consumer Protection in Markets
Reasons for Consumer Protection
Impact of Consumer Protection on Businesses
Unit 4
Market Research
What is Market Research?
The Purpose of Market Research
The Value of Market Research to Businesses
Primary Market Research: Definition and Examples
Advantages of Primary Market Research
Disadvantages of Primary Market Research
Secondary Market Research: Definition and Examples
Advantages of Secondary Market Research
Disadvantages of Secondary Market Research
Qualitative Data: Definition and Examples
Quantitative Data: Definition and Examples
Differences Between Qualitative and Quantitative Data
Methods of Primary Research: Surveys
Methods of Primary Research: Interviews
Methods of Primary Research: Focus Groups
Methods of Primary Research: Observations
Methods of Secondary Research: Internet Research
Methods of Secondary Research: Government Publications
Methods of Secondary Research: Market Reports
Choosing the Right Market Research Method
Evaluating Market Research Methods
Common Issues in Market Research
What is Sampling in Market Research?
Random Sampling: Definition and Process
Advantages and Disadvantages of Random Sampling
Quota Sampling: Definition and Process
Advantages and Disadvantages of Quota Sampling
Other Sampling Methods: Stratified and Cluster Sampling
Avoiding Bias in Market Research
The Importance of Avoiding Bias in Sampling
Interpreting Quantitative Research Data
Interpreting Qualitative Research Data
Evaluating Market Research Data
How Market Research Informs Business Decisions
The Role of Market Research in Product Development
The Role of Market Research in Targeting Customers
The Role of Market Research in Pricing Strategies
The Role of Market Research in Competitor Analysis
The Role of Market Research in Identifying Market Trends
The Role of Market Research in Risk Reduction
Limitations of Market Research
Ethical Considerations in Market Research
The Cost of Conducting Market Research
Balancing Cost vs Benefits in Market Research
Using Technology in Market Research
Big Data and Market Research
The Role of Social Media in Market Research
Case Studies: Success Stories in Market Research
Examining Market Research Failures
Exam Technique: Answering Market Research Questions
Unit 5
Business Structures and Ownership
Private Sector Businesses
Public Sector Businesses
Differences Between Private and Public Sector
Aims of Private Sector Businesses
Aims of Public Sector Businesses
Role of the Public Sector in Providing Goods and Services
Role of the Private Sector in Providing Goods and Services
Legal Structures of Sole Traders
Advantages of Sole Traders
Disadvantages of Sole Traders
Legal Structures of Partnerships
Advantages of Partnerships
Disadvantages of Partnerships
Legal Structures of Private Limited Companies
Advantages of Private Limited Companies
Disadvantages of Private Limited Companies
Legal Structures of Public Limited Companies
Advantages of Public Limited Companies
Disadvantages of Public Limited Companies
Unlimited Liability Explained
Limited Liability Explained
Advantages of Limited Liability
Disadvantages of Unlimited Liability
Factors Influencing Legal Structure Choice
Not-for-Profit Organisations Overview
Social Enterprises Explained
Charities: Purpose and Role
Co-operatives: Features and Functions
Societies: Features and Functions
Advantages of Not-for-Profit Organisations
Challenges Faced by Not-for-Profit Organisations
Impact of Legal Structure on Stakeholders
Evaluating the Role of Public Sector Businesses
Evaluating the Role of Private Sector Businesses
Evaluating the Role of Not-for-Profit Organisations
Unit 6
Business Location
Factors Influencing Business Location
Proximity to Customers
Proximity to Suppliers
Proximity to Competitors
Access to Transport Links
Availability of Skilled Labour
Cost of Premises
Local Infrastructure
Government Policies and Incentives
Access to Utilities
Impact of Local Market Conditions
Environmental Considerations in Location
Cultural and Social Factors
Proximity to Raw Materials
Impact of Technology on Location Decisions
Impact of E-commerce on Location Choices
Legal and Regulatory Requirements
Access to Financial Institutions
Impact of Local Competition on Location
Local Demographics and Target Market
Impact of Globalisation on Location Choices
Urban vs Rural Location Considerations
Evaluating Costs vs Benefits of a Location
Impact of Economic Trends on Location Decisions
Impact of Political Stability on Location Choices
Availability of Land for Expansion
Impact of Taxes on Business Location
Proximity to Competitor Supply Chains
Local Community and Stakeholder Impact
Impact of Weather and Climate on Location
Consumer Accessibility and Foot Traffic
Impact of Zoning Laws on Location
Evaluating International Location Options
Impact of Cultural Proximity on Location
Impact of Exchange Rates on International Locations
Impact of Trade Agreements on Location Decisions
Special Economic Zones and Their Benefits
Impact of Local Crime Rates on Business Location
Proximity to Distribution Channels
Impact of Local Competition on Pricing Strategy
Role of Clustering in Business Location
Impact of Tourism on Location Choices
Importance of Local Business Regulations
Impact of Environmental Regulations on Location
Evaluating Relocation Decisions
Case Studies of Business Location Decisions
Common Pitfalls in Choosing a Business Location
Impact of Remote Work Trends on Location Needs
Balancing Costs and Strategic Location Benefits
Impact of Local Competition on Market Share
Assessing Risks in Location Selection
Unit 7
Business Finance
Introduction to Business Finance
Definition of Business Finance
Importance of Finance in Business Operations
Short-Term vs Long-Term Finance
Internal Sources of Finance
Owner’s Capital as a Source of Finance
Retained Profit as a Source of Finance
Sale of Assets as a Source of Finance
External Sources of Finance
Bank Overdrafts
Bank Loans and Mortgages
Trade Credit
Leasing and Hire Purchase
Venture Capital and Business Angels
Share Capital as a Source of Finance
Debt Factoring
Advantages and Disadvantages of Internal Finance
Advantages and Disadvantages of External Finance
Choosing the Right Source of Finance
Introduction to Revenue, Costs, and Profit
Definition of Revenue in Business
Definition of Costs in Business
Fixed Costs and Their Characteristics
Variable Costs and Their Characteristics
Semi-Variable Costs Explained
Direct Costs vs Indirect Costs
Understanding Overhead Costs
Calculating Total Costs
Calculating Total Revenue
Definition of Profit in Business
Gross Profit vs Net Profit
Calculating Profit: Worked Example
Evaluating the Impact of Costs on Profit
Evaluating the Impact of Revenue on Profit
What is Contribution in Finance?
Calculating Contribution per Unit
Introduction to Break-Even Analysis
Constructing a Break-Even Chart
Calculating Break-Even Point
Understanding Margin of Safety
Interpreting Break-Even Charts
Impact of Changes in Costs on Break-Even
Impact of Changes in Revenue on Break-Even
Performing 'What-If' Analysis in Break-Even
Advantages of Break-Even Analysis
Limitations of Break-Even Analysis
Evaluating the Usefulness of Break-Even Analysis
Impact of Finance Decisions on Stakeholders
Examining Financial Risks and Rewards
Common Mistakes in Finance Calculations
Exam Techniques for Business Finance Questions
Unit 8
Marketing Mix and Strategies
What is the Marketing Mix?
The 4Ps of Marketing
Defining Product in the Marketing Mix
The Role of Product Portfolio
Understanding Branding and its Importance
Unique Selling Point (USP) Explained
What is Product Differentiation?
The Product Life Cycle Stages
Interpreting Product Life Cycle Diagrams
Extension Strategies for Products
Impact of Extension Strategies on Businesses
Product Life Cycle and Cash Flow
The Boston Matrix and Product Portfolio Management
Evaluating the Boston Matrix
Pricing Strategies: Penetration Pricing
Pricing Strategies: Price Skimming
Pricing Strategies: Cost-Plus Pricing
Pricing Strategies: Competitive Pricing
Pricing Strategies: Psychological Pricing
Pricing Strategies: Contribution Pricing
Choosing the Right Pricing Strategy
Impact of Pricing Decisions on Stakeholders
What is Promotion in the Marketing Mix?
Above-the-Line Promotional Strategies
Below-the-Line Promotional Strategies
Using a Mix of Promotional Strategies
Selecting the Right Promotional Strategy
Impact of Promotional Strategies on Businesses
What is Place in the Marketing Mix?
Distribution Channels Explained
Understanding Multi-Channel Distribution
Selecting the Right Distribution Channels
Impact of Distribution Decisions on Stakeholders
Global Marketing Overview
Adapting the Marketing Mix for Global Markets
The Role of Global Brands in Marketing
Marketing Mix in Local vs Global Contexts
Marketing Mix for Goods vs Services
Marketing Mix for Niche vs Mass Markets
Marketing Mix and Market Structure
The Role of Digital Media in Marketing
Social Media in Marketing Strategies
E-Tailing and M-Commerce Explained
Impact of New Technology on Marketing
New Technology vs Traditional Retail
Evaluating the Use of New Technology in Marketing
The Marketing Mix in Dynamic Business Environments
Unit 9
Financial Management
The Purpose of Budgeting
Types of Budgets
Preparing a Budget
Monitoring and Controlling Budgets
Benefits of Budgeting to Businesses
Limitations of Budgeting
What is Cash Flow?
Components of a Cash Flow Forecast
Constructing a Cash Flow Forecast
Interpreting Cash Flow Forecasts
Causes of Cash Flow Problems
Strategies to Improve Cash Flow
Benefits of Cash Flow Forecasting
Limitations of Cash Flow Forecasting
What is an Income Statement?
Key Components of an Income Statement
How to Construct an Income Statement
Calculating Gross Profit
Calculating Net Profit
Understanding Operating Profit
Evaluating Income Statement Data
Strategies to Improve Profitability
What is Ratio Analysis?
Purpose of Ratio Analysis in Decision-Making
Profitability Ratios: Gross Profit Margin
Profitability Ratios: Net Profit Margin
Liquidity Ratios: Current Ratio
Liquidity Ratios: Acid Test Ratio
Efficiency Ratios: Asset Turnover
Efficiency Ratios: Inventory Turnover
Efficiency Ratios: Trade Receivables Collection Period
Efficiency Ratios: Trade Payables Payment Period
Gearing Ratio and Its Implications
Interpreting Ratio Analysis Results
Using Ratios for Business Decision-Making
Limitations of Ratio Analysis
Linking Budgets to Business Objectives
The Role of Financial Management in Business Success
Common Errors in Budgeting
Identifying Trends in Cash Flow Forecasts
Impact of Seasonal Variations on Cash Flow
Break-Even Analysis and Cash Flow
Common Mistakes in Cash Flow Forecasting
The Importance of Accurate Income Statements
Common Errors in Income Statement Preparation
Comparing Income Statements Over Time
Using Income Statements to Attract Investment
Key Financial Ratios for Stakeholders
Benchmarking Ratios Against Industry Standards
How Ratio Analysis Supports Financial Planning
The Role of Financial Ratios in Risk Assessment
Unit 10
Human Resources Management
Functions of the Human Resources Department
Understanding Workforce Planning
Benefits of Workforce Planning
The Recruitment Process
Internal Recruitment Explained
External Recruitment Explained
Job Analysis and Its Purpose
Creating a Job Description
Writing a Person Specification
Methods of Employee Selection
Evaluating Selection Methods
Importance of Recruitment for Businesses
What is Training?
Role of Training in Skill Development
Induction Training Explained
On-the-Job Training Techniques
Off-the-Job Training Techniques
Apprenticeships and Their Benefits
Evaluating Training Methods
Importance of Training for Stakeholders
Understanding Appraisal
Superior’s Assessment in Appraisal
Peer Assessment in Appraisal
Self-Assessment in Appraisal
360 Degree Feedback in Appraisal
Benefits of Appraisal for Businesses
Benefits of Appraisal for Employees
Flexible Working Practices Explained
Types of Flexible Work Arrangements
Impact of Technology on Work Practices
Evaluating Changes in Working Patterns
Zero-Hours Contracts Explained
Job Sharing and Its Advantages
Multi-Skilling in the Workforce
Hot-Desking in Modern Workplaces
Motivation and Workforce Productivity
Financial Methods of Motivation
Non-Financial Methods of Motivation
Taylor’s Scientific Management Theory
Mayo’s Human Relations Theory
Maslow’s Hierarchy of Needs
Herzberg’s Two-Factor Theory
Expectancy Theories: Vroom, Porter, and Lawler
Evaluating Motivational Theories
Impact of Motivation on Business Performance
Labour Productivity Explained
Calculating Labour Productivity
Understanding Labour Turnover
Calculating Labour Turnover
Impact of Workforce Performance on Businesses
Unit 11
Organisational Design and Structures
Definition of Organisational Design
Purpose of Organisational Design
Key Elements of Organisational Design
Definition of Organisational Structures
Purpose of Organisational Structures
Characteristics of Hierarchical Structures
Advantages of Hierarchical Structures
Disadvantages of Hierarchical Structures
Characteristics of Flat Structures
Advantages of Flat Structures
Disadvantages of Flat Structures
Characteristics of Matrix Structures
Advantages of Matrix Structures
Disadvantages of Matrix Structures
Definition of Authority in Organisations
Definition of Responsibility in Organisations
The Chain of Command
Span of Control in Organisations
Delegation in Organisational Design
Hierarchy in Organisational Structures
Centralisation in Organisations
Advantages of Centralisation
Disadvantages of Centralisation
Decentralisation in Organisations
Advantages of Decentralisation
Disadvantages of Decentralisation
Empowerment in Organisational Design
Advantages of Empowerment
Disadvantages of Empowerment
Delayering in Organisations
Advantages of Delayering
Disadvantages of Delayering
Impact of Organisational Design Changes on Employees
Impact of Organisational Design Changes on Managers
Impact of Organisational Design Changes on Customers
Impact of Organisational Design Changes on Suppliers
Impact of Organisational Design Changes on Shareholders
Evaluating Organisational Structures
Factors Influencing Organisational Design Choices
Adapting Structures for Growth
Adapting Structures for Downsizing
Balancing Control and Empowerment in Organisations
Organisational Design in Small Businesses
Organisational Design in Multinational Corporations
Case Study: Hierarchical Structure in Practice
Case Study: Flat Structure in Practice
Case Study: Matrix Structure in Practice
Common Exam Mistakes in Organisational Design Questions
Understanding Stakeholder Reactions to Design Changes
Link Between Organisational Design and Workforce Performance
Organisational Design and Company Culture
Trends in Modern Organisational Structures
Unit 12
Workforce Performance and Motivation
Defining Workforce Performance
Interpreting Labour Productivity Data
Understanding Absenteeism
Calculating Absenteeism Rates
Interpreting Absenteeism Data
Interpreting Labour Turnover Data
Evaluating Workforce Performance Metrics
Introduction to Motivation
Benefits of a Motivated Workforce
F.W. Taylor’s Scientific Management Theory
E. Mayo’s Human Relations Theory
A. Maslow’s Hierarchy of Needs
F. Herzberg’s Two-Factor Theory
Comparing Motivational Theories
Piece Rate Explained
Commission as Motivation
Bonuses and Performance Pay
Profit Sharing and Share Ownership
Consultation as Motivation
Job Design and Motivation
Job Enlargement and Job Rotation
Job Enrichment and Empowerment
Team Working and Flexible Working
Evaluating Financial Motivation Methods
Evaluating Non-Financial Motivation Methods
Common Workforce Performance Traps
Linking Motivation to Workforce Metrics
Unit 13
Management and Leadership
Definition of Management
Roles of a Manager
Functions of Management
Advantages of Management by Objectives (MBO)
Disadvantages of Management by Objectives (MBO)
McGregor's Theory X and Theory Y
Evaluating the Importance of Management
Definition of Leadership
Autocratic Leadership Style
Democratic Leadership Style
Paternalistic Leadership Style
Bureaucratic Leadership Style
Laissez-Faire Leadership Style
Fiedler’s Contingency Theory of Leadership
Wright and Taylor’s Leadership Theory
Evaluating Leadership Styles
Impact of Leadership on Business Operations
Appropriateness of Leadership Styles in Different Situations
Differences Between Management and Leadership
Influence of Management on Business Performance
Influence of Leadership on Employee Motivation
Leadership and Decision-Making Processes
The Role of Emotional Intelligence in Leadership
Transformational vs. Transactional Leadership
Evaluating the Impact of Poor Leadership
Leadership in Crisis Situations
Link Between Leadership and Organisational Culture
Leadership and Stakeholder Relationships
Case Studies of Leadership in Business
Common Challenges in Management and Leadership
Ethical Considerations in Leadership
The Role of Communication in Leadership
Leadership Development and Training
The Importance of Delegation in Management
The Role of Feedback in Leadership
Adapting Leadership Styles to Team Needs
Leadership in Small vs. Large Organisations
Gender and Leadership Styles
Cross-Cultural Leadership Challenges
The Role of Vision in Effective Leadership
Leadership and Innovation in Business
The Impact of Digital Tools on Leadership
Leadership Trends in Modern Business
Evaluating Leadership Theories in Practice
The Relationship Between Leadership and Change Management
Leadership and Team Dynamics
The Role of Leadership in Strategic Planning
How Leadership Drives Organisational Goals
Unit 14
Employer and Employee Relationships
Employer and Employee Rights
Employer and Employee Duties
Contracts of Employment
Key Elements of an Employment Contract
Health and Safety Responsibilities of Employers
Health and Safety Rights of Employees
Understanding Minimum Wage Laws
Equal Opportunities in the Workplace
Impact of Equal Opportunities on Businesses
Introduction to Trade Unions
The Role of Trade Unions
Collective Bargaining Explained
Advantages of Trade Unions for Employees
Advantages of Trade Unions for Employers
Disadvantages of Trade Unions for Businesses
Understanding Industrial Action
Types of Industrial Action
Causes of Employer-Employee Conflict
Impact of Employer-Employee Conflict on Businesses
Negotiation as a Conflict Resolution Method
Consultation in Conflict Resolution
The Role of ACAS in Dispute Resolution
Benefits of Effective Conflict Resolution
Employer-Employee Relationships and Business Performance
The Role of Communication in Workplace Relationships
The Importance of Trust in Employer-Employee Relationships
Workplace Culture and Employee Relations
The Impact of Positive Workplace Relationships
Handling Dismissals and Redundancies Fairly
Legal Considerations in Employee Dismissals
Grievance Procedures for Employees
The Role of Mediation in Workplace Disputes
The Importance of Employee Feedback Mechanisms
Balancing Employer and Employee Needs
Managing Change and Employee Relations
The Impact of Technology on Workplace Relationships
Cultural Diversity and Inclusion in the Workplace
The Role of Leadership in Employer-Employee Relations
Employee Engagement Strategies
Measuring Employee Satisfaction
The Role of Workplace Policies in Employee Relations
Case Studies: Successful Employer-Employee Relationships
Case Studies: Conflict and Resolution in the Workplace
Examining Workplace Discrimination Cases
The Role of Legislation in Shaping Workplace Relationships
The Economic Impact of Employer-Employee Relations
Preparing for Exam Questions on Workplace Relationships
Unit 15
Operations Management
Introduction to Operations Management
The Purpose of Operations Management
Understanding Added Value
Calculating Added Value
Ways to Increase Added Value
Importance of Added Value to Stakeholders
Overview of Production Methods
Job Production: Features and Uses
Batch Production: Features and Uses
Flow Production: Features and Uses
Choosing the Right Production Method
What is Productivity?
Measuring Productivity
Strategies to Improve Productivity
Impact of Productivity on Business Performance
Understanding Capacity Utilisation
Calculating Capacity Utilisation
Interpreting Capacity Utilisation Results
Evaluating Capacity Utilisation for Businesses
Role of Technology in Operations
Using Information Technology in Operations
Understanding CAD (Computer-Aided Design)
Understanding CAM (Computer-Aided Manufacturing)
Role of Robotics in Operations
Impact of Technology on Stakeholders
Advantages and Disadvantages of Technology in Operations
What is Lean Production?
Principles of Lean Production
Kaizen (Continuous Improvement)
Just-in-Time (JIT) Production
Cell Production: Features and Benefits
Time-Based Management in Operations
Reducing Waste with Lean Practices
Evaluating Lean Production Methods
Unit 16
Quality and Stock Control
What is Quality in Business?
Importance of Quality for Businesses
Quality Control: Definition and Examples
Quality Assurance: Definition and Examples
Differences Between Quality Control and Quality Assurance
Total Quality Management (TQM): Overview
Quality Chains in TQM
Empowerment in TQM
Monitoring Processes for Quality
Teamwork in Quality Management
Zero Defects in Quality Management
Quality Circles: Purpose and Benefits
Benchmarking in Quality Management
Evaluating the Impact of Quality on Stakeholders
What is Stock Control?
Importance of Stock Control for Businesses
Traditional Stock Control Methods
Just-in-Time (JIT) Stock Control
Computerised Stock Control Systems
Understanding Stock Control Diagrams
Key Components of Stock Control Diagrams
Re-Order Level and Its Importance
Lead Time in Stock Management
Buffer Stock: Purpose and Management
Minimum Stock Level: Definition and Importance
Risks of Holding Too Much Stock
Risks of Holding Too Little Stock
Balancing Stock Levels for Business Efficiency
Evaluating Stock Control Methods for Stakeholders
Unit 17
Research, Development, and Innovation
What is Research and Development (R&D)?
The Role of R&D in Business Success
What is Innovation?
Types of Innovation: Product and Process
The Link Between R&D and Innovation
Stages of Product Design and Development
Identifying Customer Needs in Product Design
The Importance of Prototyping in R&D
Testing and Refining Products
The Role of Market Research in R&D
Using Technology in Product Development
Patents and Intellectual Property in Innovation
The Costs of Research and Development
Funding R&D: Internal vs External Sources
Government Support for R&D Activities
Tax Incentives for R&D Investment
The Risks Associated with R&D
Opportunity Costs of R&D Investment
Evaluating the Success of R&D Projects
The Benefits of R&D for Businesses
R&D and Competitive Advantage
R&D in Small vs Large Businesses
Global Trends in R&D and Innovation
The Role of Collaboration in R&D
Open Innovation: Benefits and Challenges
Sustainability in Product Development
Ethical Considerations in R&D
The Role of R&D in Addressing Social Issues
Case Study: Successful R&D Projects
Case Study: Failed R&D Projects and Lessons Learned
The Impact of R&D on Stakeholders
R&D and Long-Term Business Growth
Balancing Short-Term Profit and Long-Term R&D Investment
The Role of Leadership in Driving Innovation
Cultural Factors Influencing Innovation
Barriers to Innovation in Businesses
Strategies for Overcoming Innovation Barriers
The Role of R&D in Emerging Markets
R&D and Technological Change
The Boston Matrix and Product Development
The Product Life Cycle and R&D Decisions
R&D and Product Differentiation
The Role of R&D in Service Innovation
Collaboration with Universities and Research Institutions
The Impact of R&D on Brand Reputation
R&D and Market Leadership
The Role of R&D in Crisis Management
The Relationship Between R&D and Customer Loyalty
R&D and Environmental Innovation
The Role of R&D in Digital Transformation
R&D Metrics: Measuring Success
Unit 18
Economies and Diseconomies of Scale
Definition of Economies of Scale
Definition of Diseconomies of Scale
Types of Internal Economies of Scale
Technical Economies of Scale
Managerial Economies of Scale
Financial Economies of Scale
Marketing Economies of Scale
Purchasing Economies of Scale
Risk-Bearing Economies of Scale
Types of External Economies of Scale
Industry-Level Economies of Scale
Infrastructure Economies of Scale
Skilled Labour Pooling
Shared Supplier Networks
Causes of Internal Diseconomies of Scale
Communication Problems in Large Firms
Coordination and Control Issues
Employee Motivation Challenges
Causes of External Diseconomies of Scale
Overcrowding in Industry Clusters
Increased Competition for Resources
Congestion and Infrastructure Strain
Impact of Economies of Scale on Costs
Impact of Diseconomies of Scale on Costs
Economies of Scale and Competitive Advantage
Diseconomies of Scale and Business Risks
Examples of Economies of Scale in Practice
Examples of Diseconomies of Scale in Practice
Small Firms and Survival Despite Economies of Scale
Economies of Scale in Different Sectors
Economies of Scale in Manufacturing
Economies of Scale in Service Industries
Economies of Scale in Technology Companies
Economies of Scale in Retail
Link Between Economies of Scale and Market Share
Long-Run Average Cost Curve (LRAC)
Minimum Efficient Scale (MES)
Economies of Scale and Globalisation
Economies of Scale and Mergers
Economies of Scale in Cost Leadership Strategy
Diseconomies of Scale and Organisational Structure
Avoiding Diseconomies of Scale
The Role of Technology in Achieving Economies of Scale
The Role of Outsourcing in Economies of Scale
Economies of Scale and Fixed Costs
Economies of Scale and Variable Costs
Economies of Scale and Economies of Scope
Economies of Scale in Multinational Corporations
Evaluating the Impact of Economies of Scale
Evaluating the Impact of Diseconomies of Scale
Examining Case Studies on Economies of Scale
Common Exam Traps for Economies of Scale Questions
Unit 19
Archive
What Enterprise Means
Why Businesses Write Business Plans
What a Market Is
What Market Research Is
Private Sector vs Public Sector
Location Decisions for New Businesses: The Main Factors
Why SMEs Need Finance
Revenue, Costs and Profit: Definitions
The Purpose of Marketing
What the Finance Department Does
What the HR Function Does
Workforce Planning: What It Means
Appraisal: What It Is
Organisational Design: Meaning and Purpose
Employer/Employee Relationships: What They Are
What Operations Management Is
Production Methods: Job Production
Technology in Operations: Overview
Quality: What It Means
Innovation, Research and Development: Definitions
Presenting Business Data Clearly
Analysing Quantitative Market Research Data
What Sales Forecasting Is
What a Budget Variance Is
Why Non-Financial Measures Matter
Vision Statements and Business Direction
Objectives and Strategy: The Link
Strategic, Tactical and Operational Decisions
What Investment Appraisal Is
What Special Orders Are
Why Businesses Experience Change
What Business Risk Is
How Political Factors Affect Business
How Economic Factors Affect Business
Demographic Change: Meaning and Examples
Automation and Productivity Effects
Business Ethics: Meaning
The Purpose of Business Law and Regulation
Environmental Costs: Air, Water and Noise Pollution
What International Trade Is
Globalisation: What It Means
The EU: Nature and Purpose
What SMEs Are
The Main Sections of a Business Plan
What Competition Means in Business
Why Businesses Carry Out Market Research
Private Sector Aims: Survival
Analysing Location Factors for Different Business Needs
Internal vs External Finance for SMEs
Fixed Costs
Why Marketing Matters for Different Types of Business
What a Budget Is
Flexible Workforce: What It Means
Why Skills and Staffing Levels Matter
Appraisal Methods: Superior’s Assessment
Authority and Responsibility
Duties and Rights at Work
Operations in Different Types of Organisation
Production Methods: Batch Production
Information Technology in Operations
Why Quality Matters
The Product Design and Development Process
Interpreting Business Data Accurately
Analysing Qualitative Market Research Data
Why Businesses Forecast Sales
Calculating Budget Variances
Customer Attitude Surveys
Aims: What They Are and Why They Matter
Strategy: What It Means in Business
Why Decision-Making Is Central to Business
Why Businesses Use Investment Appraisal
Contribution and Special Order Decisions
Internal Causes of Change
Natural Disaster Risks
Government and a Stable Business Framework
Economic Growth and GDP
Demographics and Market Demand
Communication Technology and New Business Models
Ethical Issues: Environment
Company Law: Key Areas for Businesses
Environmental Costs: Climate Change
Why Countries and Firms Trade
Global Markets and Developing Markets
The Single European Market: What It Means
Needs, Wants and Business Opportunities
Interpreting a Business Plan for a Start-Up
Local and Global Markets
Primary vs Secondary Research
Private Sector Aims: Growth
Online vs Physical Location Decisions
Owner’s Capital for Start-Ups
Variable Costs
Market Orientation
Why Businesses Use Budgets
Flexible Hours and Part-Time Work
Internal vs External Recruitment
Appraisal Methods: Peer Assessment
Chain of Command and Hierarchy
Added Value: What It Means
Production Methods: Flow Production
CAD: Computer-Aided Design
Quality Control vs Quality Assurance
Costs of Innovation and R&D
Analysing Data to Support Decisions
Turning Research into Strategic Insight
Reliability of Forecasts: Main Influences
Analysing Budget Outcomes
Employee Attitude Surveys
Objectives: What They Are and How They Support Aims
Corporate Strategy vs Divisional Strategy
Scientific vs Intuitive Decision Tools
Payback: Calculating in Years and Months
Calculating Contribution for a Special Order
External Causes of Change
Technology and Equipment Failure Risks
Taxation and Subsidies: Business Impacts
The Business Cycle: Boom, Recession and Recovery
Consumer Tastes and Lifestyle Changes
Technology as Opportunity and Threat
Ethical Issues: Animal Rights
Employment and Anti-Discrimination Law: Core Issues
Environmental Costs: Congestion
Free Trade: Meaning and Effects
Drivers of Globalisation: Technology and Communication
Free Movement of Goods, Labour and Capital
Spotting Business Opportunities in Real Markets
Strengths and Limitations of Business Plans
Mass and Niche Markets
Qualitative vs Quantitative Data
Private Sector Aims: Profit
Location Trade-Offs and Opportunity Cost
Bank Loans for SMEs
Semi-Variable Costs
Product Orientation
Benefits and Drawbacks of Budgeting
Temporary Work, Job Sharing and Multi-Skilling
Job Analysis
Appraisal Methods: Self-Assessment
Span of Control and Delegation
Health and Safety Responsibilities
Choosing the Best Production Method
CAM: Computer-Aided Manufacturing
Benefits of Innovation and R&D
Pie Charts in Business Contexts
Price Elasticity of Demand: Calculations
Quantitative vs Qualitative Forecasting
Using Variances to Improve Performance
Market Share as a Performance Measure
SMART Objectives
Functional Strategy
Decision Trees: Purpose and Use
Payback: Interpreting and Decision Rules
Advising Whether to Accept a Special Order
Planned Change vs Unplanned Change
Employee Error Risks
Fiscal Policy and Business Decisions
Inflation: Meaning, Measurement and Causes
Cultural Changes and Business Opportunities
Evaluating Technological Impacts on Stakeholders
Ethical Issues: Treatment of Workers
Consumer Protection: Why It Matters
Environmental Costs: Habitat Destruction
Protectionism: Meaning and Reasons
Drivers of Globalisation: Liberalised Trade
EU Legislation, Regulations and Standards
The Entrepreneur’s Role in Starting Up
Using Business Plans to Attract Finance
Trade and Consumer Markets
Primary Research Methods Businesses Use
Public Sector Aims and the Role of Government Provision
Evaluating Location Options for a Start-Up
Overdrafts for SMEs
Direct Costs
Asset-Led Marketing
Sources of Finance for Large and Established Businesses
Zero Hours Contracts and Hot-Desking
Job Description
Appraisal Methods: 360 Degree Feedback
Centralisation vs Decentralisation
Minimum Wage and Dismissal Basics
How Businesses Increase Added Value
Productivity: What It Means
Robotics and Automation
Quality Chains
Evaluating R&D Decisions
Histograms in Business Contexts
Income Elasticity of Demand: Calculations
Three-Point Moving Average: Calculation
Balance Sheet: Purpose and Layout
Productivity as a Performance Measure
Mission Statements: Purpose and Use
Strategy vs Tactics
Constructing Decision Trees
ARR: Calculation
Risks and Qualitative Issues in Special Orders
Impacts of Change on Production Methods and Equipment
Supply Chain Risks
Monetary Policy and Business Decisions
Interest Rates and Business Activity
Evaluating Social Change Impacts on Stakeholders
Ethical Issues: Supplier Relationships
Competition Policy: Preventing Unfair Practice
Environmental Costs: Waste Disposal
Tariffs and Quotas
Drivers of Globalisation: The Internet
Evaluating EU Impacts on Businesses and Stakeholders
The Entrepreneur’s Role in Running and Growing a Business
Using Business Plans to Reduce Risk
Product and Service Markets
Secondary Research Sources Businesses Use
Comparing Public and Private Sector Roles
How Location Affects Costs, Revenue and Competitiveness
Trade Credit for SMEs
Indirect and Overhead Costs
The Marketing Mix: Overview
Internal Finance for Larger Businesses
Home Working and Hybrid Working
Person Specification
How Appraisal Benefits Employees and Employers
Empowerment and Delayering
Equal Opportunities: What It Means
Why Added Value Matters to Stakeholders
Stakeholder Impacts of New Technology
Empowerment and Teamwork in TQM
Economies of Scale: What They Are
Index Numbers: Meaning and Interpretation
Interpreting Elasticity Values
Time Series Analysis: Interpretation
Working Capital: Meaning and Calculation
Environmental Record as a Performance Measure
Evaluating Vision, Mission and Objectives for Stakeholders
Corporate Plans: Purpose and Content
Interpreting Decision Tree Outcomes
ARR: Interpretation and Decision Rules
Impacts of Change on Product Development
Economic Risks
Why Governments Regulate Business
Exchange Rates and Import/Export Competitiveness
Ethical Issues: Customer Treatment
Health and Safety: Business Responsibilities
Government Intervention to Control Environmental Costs
Trading Blocs and Single Markets
Drivers of Globalisation: Transport Costs
The Euro: What It Is
Sources of Advice and Guidance for Entrepreneurs
Seasonal Markets and Demand Patterns
Choosing the Right Research Method for a Scenario
Sole Traders: Features and Suitability
Location and Stakeholders: Winners and Losers
Crowdfunding and Other Modern Funding Routes
Total Costs
Product: Product, Brand, USP and Differentiation
External Finance: Overdrafts and Loans
How Technology Changes Working Practices
The Recruitment Process Step-by-Step
Workforce Performance: What It Means
Hierarchical Structures: Tall vs Flat
Impacts of Equal Opportunities on Employers and Employees
Ways to Increase Productivity
Lean Production: What It Means
Zero Defects and Quality Circles
Internal Economies of Scale: Types
Elasticity and Revenue Impacts
Scatter Graphs and Lines of Best Fit
Capital Employed: Meaning and Calculation
Choosing Appropriate Non-Financial Measures
SWOT Analysis: Building a SWOT
Evaluating Decision Trees: Strengths and Weaknesses
Discounted Cash Flow: Core Idea
Legal Compliance as a Driver of Change
Legal Risks
Government as a Major Purchaser
Unemployment and Business Impacts
Corporate Social Responsibility (CSR): Meaning
Data Protection: Business Responsibilities
Pressure Groups and Business Behaviour
Free Trade vs Protectionism: Stakeholder Evaluation
Drivers of Globalisation: Converging Tastes
The Eurozone: What It Is
Using Market Information in a Business Plan
Market Size, Market Share and Market Growth
Reliability, Validity and Bias in Market Research
Partnerships: Features and Suitability
Business Angels and Venture Capital for SMEs
Calculating Revenue
Product Portfolio Basics
External Finance: Share Capital
Impacts of Flexible Working on Employees
Selection Methods: Interviews
Labour Productivity: Meaning and Importance
Matrix Structures: Features and Uses
Trade Unions and Collective Bargaining
Impacts of Productivity Changes
Kaizen and Continuous Improvement
Benchmarking for Quality Improvement
External Economies of Scale
Price Changes and Revenue: Evaluation
Correlation: Positive, Negative and None
Depreciation: Straight Line Method
SWOT Analysis: Using SWOT to Make Decisions
Critical Path Analysis (CPA): Purpose and Use
NPV: Using Discount Factors
Retraining and Workforce Changes
PR Risks
Evaluating Government–Business Relationships
Evaluating Economic Impacts on Stakeholders
Ethics vs Profitability: Managing Trade-Offs
Intellectual Property: Protecting Ideas and Brands
Education and Changing Consumer Expectations
Challenges of Entering International Markets
Globalisation’s Impacts: Competition and Growth
Costs and Benefits of the Euro for Businesses
Entrepreneurial Skills and Characteristics
Using Cost and Revenue Estimates in a Business Plan
Reading and Interpreting Market Trend Data
Interpreting Quantitative Research Findings
Private Limited Companies: Features and Suitability
Leasing for SMEs
The Product Life Cycle: Stages
External Finance: Venture Capital
Impacts of Flexible Working on Employers
Selection Methods: Work Trials
Absenteeism: Meaning and Impact
Pros and Cons of Changing Structures
Pros and Cons of Trade Unions
Capacity Utilisation: What It Is
Just-in-Time in Lean Production
Evaluating the Value of Quality Systems
How Economies of Scale Lower Unit Costs
Income Changes and Revenue: Evaluation
Extrapolation for Predicting Future Values
Interpreting Balance Sheet Information
Porter’s Five Forces: Overview
Completing CPA Diagrams
NPV: Interpretation and Decision Rules
Finding New Markets After Change
Product Failure Risks
Profit Impacts of Ethical Objectives
Minimum Wage: Impacts on Business Decisions
How Businesses Respond to Environmental Issues
Evaluating Whether to Expand Internationally
Strategies for Global Growth: Global Branding
Impacts for UK Businesses of EU and Eurozone Membership
Why Entrepreneurs Matter to the UK Economy
Evaluating the Importance of Planning for SMEs
Market Segmentation: What It Is
Interpreting Qualitative Research Findings
Public Limited Companies: Features and Suitability
Grants and Other Support Schemes (as finance sources)
Calculating Profit
Drawing and Interpreting the Product Life Cycle
External Finance: Leasing
Selection Methods: Testing and Selection Exercises
Labour Turnover: Meaning and Impact
Empowerment vs Control: Choosing an Approach
Causes of Employer/Employee Conflict
Cell Production
Purchasing and Working with Suppliers
Diseconomies of Scale: Causes
Using Forecasts to Plan Capacity and Stock
ROCE: Calculation and Interpretation
Applying Five Forces to a Market
Interpreting CPA Results
Comparing Payback, ARR and NPV
Why Managing Change Matters
Likelihood vs Impact in Risk Decisions
Evaluating a Business’s Ethics from Stakeholder Views
Evaluating How Legislation Affects Stakeholders
Evaluating Business Impacts on the Environment
Strategies for Global Growth: External Growth
Impacts of Non-Membership
Entrepreneurs and SMEs in Primary, Secondary and Tertiary Sectors
How Markets Are Segmented
What Sampling Means
Unlimited Liability vs Limited Liability
Choosing Finance: Cost, Risk and Control
Interpreting Revenue, Cost and Profit Figures
Extension Strategies on the Product Life Cycle
External Finance: Trade Credit
Selection Methods: Telephone Interviews
Motivation: Meaning and Benefits
Trade Disputes and Industrial Action
Time-Based Management
Stock Control: Meaning and Purpose
Problems from Internal Diseconomies of Scale
Qualitative Methods: Intuition
Current Ratio: Calculation and Interpretation
Evaluating Strategy and Corporate Plans
Evaluating CPA: Strengths and Weaknesses
Quantitative vs Qualitative Factors in Investment Decisions
Storey’s Four Approaches to Managing Change
Risk Assessment as a Prevention Tool
Environmentally Friendly Policies: Costs and Benefits
Choosing Target Markets Internationally
How SMEs Affect Other Businesses
Why Segmentation Matters to Businesses
Random Sampling vs Quota Sampling
Choosing a Legal Structure: Key Factors
Advantages and Disadvantages of Each Finance Source
Impacts of Changing Costs and Revenues on Profit
Product Life Cycle and Cash Flow Links
External Finance: Debt Factoring
Matching Selection Methods to Job Roles
Taylor’s Scientific Management
Resolving Conflict: Negotiation and Consultation
Capacity Utilisation: Impacts on Stakeholders
Evaluating Lean Production in Real Businesses
Problems of Too Much vs Too Little Stock
Why Small Firms Survive
Qualitative Methods: Brainstorming
Acid Test Ratio: Calculation and Interpretation
Ansoff Matrix: Understanding the Four Strategies
Cost Benefit Analysis (CBA): Purpose and Use
Making Recommendations Using Investment Data
Why People Resist Change
Preventative Actions: Practical Examples
Evaluating Global Growth Strategies
How SMEs Affect the Wider Economy
Impacts of Segmentation on Customers
Sampling Bias and How to Reduce It
Pros and Cons of Different Legal Structures
Evaluating the Best Finance Mix for a Scenario
Stakeholder Impacts of Profit Changes
Using the Product Life Cycle in Different Markets
Choosing Appropriate Sources of Finance
Why Recruitment Decisions Matter to Stakeholders
Interpreting Workforce Performance Measures
Mayo and Human Relations
The Role of ACAS
Evaluating Scale Effects on Stakeholders
Qualitative Methods: Delphi Method
Gearing Ratio: Calculation and Interpretation
Applying Ansoff to a Business Context
Carrying Out CBA Step-by-Step
Lewin’s Three-Step Change Process
Insurable vs Uninsurable Risk
Benefits for UK Businesses in Global Markets
Who Stakeholders Are
Market Structures: Perfect Competition
How Useful Sampling Is for Business Decisions
Not-for-Profit Organisations: Core Features
What Contribution Means
Evaluating the Product Life Cycle as a Tool
Cash Flow: What It Means
Training: What It Is
Impacts of Conflict and Resolution on Stakeholders
JIT Stock Control
Pros and Cons of Qualitative Forecasting
Using Income Statements and Balance Sheets Together
Evaluating the Usefulness of Ansoff
Interpreting CBA Outcomes
Organisational Culture and Change
Contingency Planning: What It Is
Difficulties for UK Businesses in Global Markets
Stakeholder Groups in a Small Business Context
Market Structures: Monopolistic Competition
Evaluating Market Research for Different Stakeholders
Social Enterprises
Break-Even: What It Means
The Boston Matrix: Stars, Cash Cows, Problem Children, Dogs
What a Cash Flow Forecast Is
Induction Training
Computerised Stock Control
Evaluating Forecasting for Stakeholders
Comparing Accounts Over Time
Horizontal Integration: Meaning and Rationale
Evaluating CBA: Strengths and Weaknesses
Leadership’s Role in Managing Change
Crisis Management: What It Is
Glocalisation: Adapting to Local Needs
How Stakeholders Are Affected by Business Decisions
Market Structures: Oligopoly
Charities
Calculating Break-Even Using Contribution
Using the Boston Matrix to Manage a Portfolio
On-the-Job Training
Expectancy Theories: Vroom, Porter and Lawler
Interpreting Stock Control Diagrams
Comparing Accounts Between Businesses
Vertical Integration: Meaning and Rationale
Choosing the Best Tool for a Decision
Evaluating Whether Change Management Worked
Contingency Funds and Financial Resilience
Evaluating Globalisation for UK Stakeholders
Market Structures: Monopoly
Co-operatives and Societies
Drawing and Interpreting Break-Even Charts
Evaluating the Boston Matrix as a Tool
Off-the-Job Training
Financial Motivation: Piece Rate, Commission, Bonuses, Salary
Re-order Level, Lead Time, Buffer Stock and Minimum Stock Level
Evaluating Financial Position Overall
Pros and Cons of Horizontal and Vertical Integration
Information Technology in Decision-Making
Change Impacts on Stakeholders
Alternative Production Arrangements
Multinational Companies: What They Are
How Market Structure Shapes Business Behaviour
How Legal Structure Affects Stakeholders
Margin of Safety
Apprenticeships
Profit Sharing, Share Ownership and PRP
Window Dressing and Limits of Accounts
Organic Growth vs External Growth
Allocating Responsibilities During Crises
Why Multinationals Exist
Why Consumers May Need Protection
Showing Cost/Revenue Changes on Break-Even Charts
Improving Cash Flow: Practical Strategies
Evaluating Training Costs and Benefits
Non-Financial Motivation: Consultation and Job Design
External Factors Affecting Accounts (Demand and Inflation)
Pros and Cons of Organic Growth
Managing Public Relations in a Crisis
Evaluating Becoming a Multinational
Demand, Supply and Equilibrium: Key Ideas
Break-Even “What-If” Analysis
Evaluating Cash Flow Improvement Strategies
Job Enlargement, Rotation and Enrichment
Mergers and Takeovers: Evaluation
Evaluating Risk Responses
Impacts of Multinationals on Host Countries
Shifts in Demand: Causes and Effects
Limits of Break-Even Analysis
Benefits and Limitations of Cash Flow Forecasting
Team Working and Flexible Working as Motivation
Franchising as a Growth Method
Importance of Risk Management for Stakeholders
Shifts in Supply: Causes and Effects
The Income Statement: Purpose and Layout
Choosing Motivation Methods for Different Contexts
Comparing Growth Methods for a Scenario
Drawing and Interpreting Demand and Supply Diagrams
Pricing Strategies: Contribution-Based Pricing
Gross Profit and Net Profit Calculations
Management: Meaning, Functions and Roles
Rationalisation: Meaning and Reasons
Changes in Equilibrium Price and Quantity
Choosing Pricing for Different Business Contexts
Improving Profit: Methods and Trade-Offs
Management by Objectives (MBO)
Location/Relocation Decisions in Strategy
Price and Income Elasticity as Concepts
Promotion: What It Means
McGregor’s Theory X and Theory Y
Evaluating Relocation and Rationalisation Impacts
Inferior, Normal and Luxury Goods
Above-the-Line Promotion
Leadership: Meaning and Purpose
Outsourcing Production: Meaning and Motives
Below-the-Line Promotion
Using Profitability Ratios to Assess Performance
Leadership Styles: Autocratic, Democratic, Paternalistic
Evaluating Outsourcing: For and Against
Choosing Promotions for Different Situations
Leadership Styles: Bureaucratic, Laissez-Faire
Place: Distribution Channels
Leadership Theories: Fiedler
Multi-Channel Distribution
Leadership Theories: Wright and Taylor
Choosing the Right Distribution Channel
Choosing Leadership Styles for Business Situations
Global Marketing and Global Brands
Adapting the Marketing Mix to Different Contexts
New Technology in Marketing: Digital Media and Social Media
E-tailing and M-commerce
How Technology Changes High Street Businesses
Evaluating Technology’s Impact on Marketing and Stakeholders