AS Business studies
- Created by: emilyhufford
- Created on: 22-05-18 09:34
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- AS Business Studies
- What is a business?
- Missions (mission statement) - aims (corporate aims) - objectives (functional, corporate)
- Objectives - profit - growth - survival - cash flow - ethical or social
- Can be short or long-term
- Forms of a business - Sole trader - PLC and LTD - not-for-profit -
- limited and unlimited liability
- Shareholders - shares and share prices - dividends
- External environment
- Market conditions - interest rates - competition - environmental - demographic- ethical - technological
- Management and decision making
- Tannenbaum Schmidt Continuum
- Blake mouton grid
- Leadership styles - autocratic,paternalistic democratic and laissez-faire
- internal vs external influences
- decision making - scientific - intuitive - opportunity cost - risk, reward and uncertainty
- Decision Trees - expected value - associated costs - net gain
- Stakeholders
- External vs Internal stakeholders
- Different stakeholders have different objectives
- Stakeholder mapping
- External vs Internal stakeholders
- Marketing decisions
- Objectives
- Sales volume and sales value
- Sales growth
- Market share
- Brand loyalty
- Market size and market growth
- Sales growth
- Internal vs External
- The law directly influences marketing objectives
- Sales volume and sales value
- Market analysis
- Market mapping
- Market research - primary or secondary - quantitative or qualitative
- Marketing data
- Extrapolation - correlation - sales forecasts - confidence levels and intervals
- PED and YED
- Segmentation - Targeting - Positioning
- The marketing mix - price, product, place, promotion, people, physical environment and process
- Objectives
- Operational decisions
- Objectives - Cost, quality, flexibility, efficiency, innovation, environment, dependability and speed of response
- External vs internal
- Added value = Sales revenue - cost of bought-in goods and services
- Methods of production
- Job - cell - flow - batch - lean
- capacity utilisation
- Efficiency and Labour productivity
- Quality
- Supply chains
- Objectives - Cost, quality, flexibility, efficiency, innovation, environment, dependability and speed of response
- Financial decisions
- Objectives - cash flow - profit - funding
- External vs Internal
- Increasing profit
- Percentage change in profit
- Profit margins
- Operating - gross - PFTY
- Cash flow forecasting
- Budgets
- Adverse vs favourable
- external vs internal causes
- Historical budgets - zero-based budgets
- Adverse vs favourable
- Break-even analysis
- Contribution - Break-even - Margin of safety
- Sources of finance
- External
- Internal
- Retained profit - rationalisation
- Bank loan - overdraft - debt factoring - share capital - venture capital
- Internal
- External
- Objectives - cash flow - profit - funding
- Human Resources
- Objectives
- Internal vs external
- Hard of Soft HRM
- HR data
- Labour productivity
- Labour costs
- Labour turnover
- Labour retention
- Organisational design
- Tall or flat - wide or narrow spans of control
- Hierarchy
- Delegation
- Centralised - decentralised
- HR flow
- Recruitment - external vs internal
- Training and development
- HR planning
- Motivation and job design
- Models
- Maslow
- Taylor
- Herzberg
- Hackman and Oldham
- Models
- Motivation
- Financial vs non financial methods
- Organisational and job design
- Employer-employee relations
- Cooperation - communication - barriers to communication
- benefits both parties
- employee representation
- Work councils and trade unions
- Objectives
- What is a business?
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