Unit 1: What is business?

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  • Unit 1: What is business?
    • Understanding the nature and purpose of business
      • Objectives
        • Mission and Mission statement
        • Types of objectives
          • Business
          • Corporate
            • Common objectives
              • Business
              • Functional
              • Profit
              • Growth
              • Survival
              • Cash Flow
              • Social and Ethical
          • Functional
        • Why businesses set objectives
          • S.M.A.R.T
      • Measurement and importance of profit
        • Revenue = Price per unit  x quantity sold
        • Costs = fixed + variable
          • Relationship between cost and price
            • Revenue = Price per unit  x quantity sold
        • Profit = Total Revenue - Total costs
          • Importance of profit:
    • Understanding different business forms
      • Private sector organisations
        • Unincorporated
          • Sole trader
          • Partnership
        • Incorporated
          • Private limited company
          • Public limited company
      • Public sector organisations
      • Limited and unlimited liabilities
      • Shares
        • Ordinary share capital
        • Dividend
        • Market capitalisation
        • Role of shareholders
        • Influences on share price and importance of changes
      • Non-profit organisations
      • Effects of ownership on mission
    • Understanding that business operate within an external environment
      • Influences on businesses
        • PESTLE
      • Influence of external environment on costs and demand
        • Influences on demand
      • Competition
        • Influences from competition on cost and demand
      • Incomes
      • Interest rates
        • Effects on business costs
        • Effects on demand
      • Demographics
        • Effects on costs
        • Effect on demand
      • Environmental Issues and fair trade
        • Effect on costs
        • Effect on demand

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