AQA BUSS3 specification map - tutor2u

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tutor2u Business Blog ­ Specification Map
Functional Objectives and Strategies
This section introduces candidates to functional objectives and strategies, and examines their
appropriateness in the context of corporate objectives.
Specification Amplification
Using Objectives and Strategies Candidates should understand a range of functional
· functional objectives and their relationship objectives that businesses might pursue (e.g.
with corporate objectives minimising costs, gaining market share) and how
these contribute to the achievement of corporate
· the relationship between functional objectives
and strategies.
Financial Strategies and Accounts
This section examines the financial objectives of larger businesses, the ways in which financial
performance might be measured and the strategies they may deploy.
Specification Amplification
Understanding Financial Objectives Financial objectives should include: cash flow
· financial objectives targets, cost minimisation, ROCE targets and
shareholders' returns.
· assessing internal and external influences on
financial objectives.
Using Financial Data to Measure and Assess Analysing financial data should focus on assessing
Performance performance and potential. Candidates should
understand the importance of working capital,
· analysing balance sheets
depreciation, profit utilisation and profit quality.
· analysing income statements
· using financial data for comparisons, trend
analysis and decision making
· assessing strengths and weaknesses of
financial data in judging performance.
Interpreting Published Accounts Candidates should understand the following ratios:
· conducting ratio analysis: the selection, liquidity (current and acid test ratios), profitability
calculation and interpretation of ratios to (ROCE), financial efficiency (asset turnover,
measure financial performance inventory [stock] turnover, payables [creditor] and
receivables [debtor] days), gearing and shareholder
· assessing the value and limitations of ratio
ratios (dividend per share and dividend yield).
analysis in measuring a business's performance.
Selecting Financial Strategies Candidates should understand how these
· raising finance strategies interrelate with other functions and be
able to assess their value in given circumstances.
· implementing profit centres
· cost minimisation
· allocating capital expenditure.
Making Investment Decisions Candidates should understand the reasons why
· conducting investment appraisal: selection of businesses invest and the ways in which
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tutor2u Business Blog ­ Specification Map
appropriate methods, calculation and investment can help businesses to reach functional
interpretation of findings objectives.
· investment criteria Quantitative measures of investment should
· assessing the risks and uncertainties of include: payback, average rate of return, and net
investment decisions present value.
· evaluating quantitative and qualitative
influences on investment decisions.
Marketing Strategies
This section considers the development of marketing strategies for larger businesses through a
scientific approach to decision making.…read more

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tutor2u Business Blog ­ Specification Map
Understanding Operational Objectives Operational objectives should include: meeting
· operational objectives quality, cost and volume targets, innovation,
efficiency (including time) and environmental
· assessing internal and external influences on
operational objectives.
Influences on operational objectives might include:
competitors' performance, resources available, the
nature of the product and demand.…read more

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tutor2u Business Blog ­ Specification Map
the strengths and weaknesses of each.
Developing and Implementing Workforce Plans Candidates should be aware of the influences on
· components of workforce plans workforce planning, including other functional
decisions, eg innovation may require greater
· assessing internal and external influences on
diversity, legislation and labour market trends
workforce plans including migration.
· issues in implementing workforce plans Issues involved in implementing workforce plans
· the value of using workforce plans.…read more


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