AQA AS Business Studies Unit 1 Revison Notes

here are a few notes which will help towards revising for the exam.

NOTE JUST REMEMBERING THESE NOTES WILL NOT HELP

this is the bases of the subject for unit 1 you will have to study these in detail just to get it all!

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Contents
Starting a business
Enterprise
Generating and protecting ideas
Adding value
Developing business plans
Markets
Start-up market research
Market segmentation
Locating the business
Chosing the right legal structure
Employing people

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Starting a business
Enterprise
Enterprise- a willingness by an individual or a business to take risks, show initiative and undertake a
new business venture.

Entrepreneurial characteristics;

Spotting an opportunity
Planning and organisation
Determination
Drive and ambition

Support for Entrepreneurs;

Grants
Chambers of commerce, regional development agencies and local authorities
Princess…

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Developing business plans
The business plan:

Executive summary The Marketing Plan
It summarises the business concept or A. Market analysis
proposal. B. Profile of target market
C. Marketing mix

Introduction The Production Plan
A. Basic business details A. Market analysis
B. Legal ownership B. Profiles
C. Aims and objectives C.…

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o Survey data
o Sales records and customer information
o Competitor information

Qualitative data ­ this information is often more detailed and perhaps will explain why

Quantitative data ­ Quantitative data forms statistics which can help explain a market, although it is
less useful on its own when trying to…

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Lifestyle segmentation ­ this involves segmenting a market based on the interests opinions
and hobbies of customers.




Locating the business
Things to consider when picking a business location;

Access
Infrastructure
Labour market
External economies
Proximity to competition
Opportunities for expansion
Cost
Proximity to suppliers
Proximity to customers

Choosing the right…

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(short term) Is (long term) Fixed or
specialist advice and flexible hours?
support required?
(yes) (no) Temporary (fixed) full-time (flexible) part-time
Consultant/advisor employment employment employment




Financial planning

Raising finance
Personal savings ­ the best source of finance for any business is personal savings because it is low
risk and does…

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Setting budgets
The purpose of setting budgets;

Form part of a company's objectives
Provide a plan for future activity
Set targets and motivate employees
Help ensure finance is available when required
Prevent overspending and control costs

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