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Business - H031

15 sections available

Introduction to business

Enterprise
Business sectors
Types of business

Business objectives and strategy

Different stakeholder and business objectives
Stakeholders
Business plans
Risk and uncertainty
Measures of performance: financial and nonfinancial
Decision making

External influences

The market, market structure, market size, share and growth
Demand and supply
Physical and nonphysical markets
Competition
Market dominance
Global context
Political factors
Economic factors
Technological factors
Ethical factors
Legal factors
Environmental factors

Accounting and finance within a business environment

Sources of finance

Management accounting

Costs, revenue and profit
Break-even analysis
Investment appraisal
Budgets and variances
Cash-flow
Working capital

Financial accounting

Income statements
Statement of financial position
Ratio analysis

Human resource management within a business environment

Organisation

The workforce

Recruitmen
Selection
Training
Workforce performance
Appraisal
Redundancy and dismissal

Management

Functions of management
Leadership
Motivation
Employer/employee relations

Marketing within a business environment

Marketing resources

Customer needs

Identifying customer needs
Anticipating consumer needs

The marketing strategy

The marketing mix
Product
Price
Place
Promotion

The production process

Methods of production
Services

Productive efficiency

Productivity
Capacity utilisation and management
Added value
Economies and diseconomies of scale
Stock control
Lean production

Productive quality (fit for purpose)

Internal quality standards
External quality standards

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