Business studies

HideShow resource information
  • Created by: tayloruk
  • Created on: 08-01-18 21:39
View mindmap
  • Business Studies Mind map
    • Types of Business's
      • Partnerships
        • Most partnerships have unlimited liability.
        • Each owner is legally responsible for the other one's actions.
        • Owners can have a disagreement about the direction the business should be heading
        • More owners means more capital can be invested into the business
      • Public Limited Companies
        • Anyone can buy shares from the firm.
        • Very little say per shareholder in how the firm is run.
        • Someone can take over the company if they buy the shares
        • More capital can easily be earned
      • Sole Traders
        • You are your own boss!
        • You alone decide what happens to all profit.
        • You have unlimited Liability.
        • Work long hours, and no holiday pay.
      • Private Limited Companies
        • You can choose who to sell shares to.
        • has to publish it's accounts every year by law.
      • Franchises
        • Has the right to sell another firm's products.
          • The Franchise will have to pay a fee to the firm to sell their products!
        • Can sell popular brands
        • marketing is often already done for you by the Franchisor.
      • Co-opatives
        • Owned by the workers
        • limited liability
        • can be harder to expand due to reliance on retained profit and owners capital.
        • no conflict between stakeholders due to them all being the workers.
      • Public Corporations
        • Owned and funded by the government.
        • Follow objectives set by government
        • not liable at all
    • Business and people
      • The Law and employment
        • All pay must follow the minimum wage.
        • Employment can not descriminate upon a person's gender, ethnicity, religion or disability
        • The employment act 2002, protects employee's against unfair dismissal.
        • Employees can only be made redundant for a job that no longer exists.
        • New mothers are entitled to 39 weeks of paid maternity leave while fathers can take up to 2 weeks off.
        • The 1961 factories act set minimum ammount of requirements of toilets, washing facilites. lighting and fire escapes
        • Accident books are required to be kept and first aiders trained.
      • Motivation Theory
        • Training can boost motivation as it helps students become better at their jobs.
        • Motivated staff can also have a low turnover rate in the business.
        • The style of managment can also change the motivation of a employee.
    • promotion of product
      • Business and people
        • The Law and employment
          • All pay must follow the minimum wage.
          • Employment can not descriminate upon a person's gender, ethnicity, religion or disability
          • The employment act 2002, protects employee's against unfair dismissal.
          • Employees can only be made redundant for a job that no longer exists.
          • New mothers are entitled to 39 weeks of paid maternity leave while fathers can take up to 2 weeks off.
          • The 1961 factories act set minimum ammount of requirements of toilets, washing facilites. lighting and fire escapes
          • Accident books are required to be kept and first aiders trained.
        • Motivation Theory
          • Training can boost motivation as it helps students become better at their jobs.
          • Motivated staff can also have a low turnover rate in the business.
          • The style of managment can also change the motivation of a employee.
      • Firms advertise for various reasons like, making consumers aware of a new product, promote brand image and remind customers of existing products
      • Though advertising can be good for a firm, for example sales might increase due to it, it can also damage smaller firms and so have social costs.
      • Businesses can use organisations and events to promote its products, for example sport, television and the arts all can be used to advertise products.
      • There are 7 main points of sale promotion, these are Buy one get one free, discounts, competitions, free gifts, product trials, point of sale and use of credit.

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all all resources »