AS Business Studies OCR Revision Guide Summary

This is a summary of the whole OCR AS Business Studies course (F291 and F292)

HideShow resource information
  • Created by: Kili
  • Created on: 17-05-12 16:40
Preview of AS Business Studies OCR Revision Guide Summary

First 704 words of the document:

Busi
ness
AS
Revi
si
on
G ui
de
Busi
nesses ai
m to
ma ke
a pr
ofi
t
by sel
li
ng pr
oducts
(goods)
or
servi
ces
Some
fi
rms
sell
necessi
ti
es
(what
peop l
e need)
,
others
luxur
y pr
oducts
or
ser
vices
(
w hat
peopl
e want,
but
do
not
need)
Busi
nesses have
to
ma ke
prof
it
or
br
e ak
even t
o sur
vive
Pri
vate
sector:
o P ri
va t
ely
owned
o H a ve
to make
prof
it
i
n or
der
not
to
go
ba nkr
upt
and
have
to
close
down
Publi
c sect
or:
o G over
n ment
owned
o Ma ny
o f
t
hem are
non pr
ofi
t
organi
zat
ions
Other
obj
ecti
ves
of
b usi
nesses
o O f
feri
ng t
he hi
ghes t
qual
it
y goods
and
servi
ces
possi
ble
o Increasi
ng t
heir
ma r
ket
sha r
e
o G i
ving
good cust
o mer
se r
vice
o H avi
ng a
goo d
reputat
ion
o T r
ying
to
li
mit
thei
r i
mp act
on
the
envi
ronment
What
Busi
nesses need:
o L abour
o F i
nance
o C ustomers
o S uppli
ers
o P r
e mises
o E nt
e r
pri
se
Busi
ness
depart
me nt
s and t
heir
rol
es
o P roduct
ion
A busi
ness t
urns r
aw
ma ter
ial
s i
nto
a f
ini
she d
good or
ser
vice
o F inance
B usinesses
have t
o
keep an eye
on t
he i
r
fi
nances (
fi
nance r
ecord)
T ry
to
get
b est
val
ue f
o r
mo ney
o H R M (
H uman Resou r
ce Man ageme nt
)
B usinesses
mu st
ma ke
sure t
hey have
the r
ight
number
o f
employees
of
t
he ri
ght
qua l
i
ty
in
the r
ight
place
at
the r
ight
t
ime
o Ma r
keti
ng
B usinesses
have t
o
ident
if
y what
custome r
s want
or
need and f
igur
e
out
how best
to
sell
i
t
to
them
o A dmin
R un own aff
air
s as
eff
ici
e nt
ly
as possi
ble
o R&D (
R esear
ch
and
D evel
opment
)
1

Other pages in this set

Page 2

Preview of page 2

Here's a taster:

New i
deas
for
pr
oduct
St
akehol
der
o Internal
St
a kehol
ders
(people
insi
d e
the busi
nes s)
O w ners
Ma ke
profi
t,
i
f
business i
s successf
u l
D e ci
de what
hap pens
to t
he business
I n
li
mited
comp any,
sh ar
eh ol
ders ar
e the
owners
E mp l
oyees
J ob secur
it
y and promoti
o n
Wa nt
to
earn decent
w age and…read more

Page 3

Preview of page 3

Here's a taster:

Pri
ma r
y Sector
E xtr
act
R aw Mater
ial
D ecli
ne i
n UK ­
C heaper t
o i
mp or
t
fr
om other
countr
ies
o Secondary
S ect
or
Ma n uf
actur
ing
an d
construct
ing
D ecli
nes ­
C heaper
in
other
countr
ies
­ l
ower pr
oducti
on cost
s
o Tert
iar
y Sector
S ervi
ce sect
or
E xpanded i
n UK
(most of
UK economy i
s…read more

Page 4

Preview of page 4

Here's a taster:

Fr
anchi
sor
o Is t
he busi
ne ss
w hi
ch i
s wil
l
ing t
o sel
l,
or
l
icense,
the
use of
i
ts i
dea,
n ame and
r
eputat
ion
o P ro
S ome one el
se runs
pa r
t
of
thei
r busi
ness f
or t
hem, so
they save
mone y
on wages
T hey get
paid
for
the
u se
of
thei
r
n ame,
an d
they
get a
share…read more

Page 5

Preview of page 5

Here's a taster:

Success of business depends on the Demand
o D ema nd
has ma ny
fact
ors
P r
ice of
t
he
product
P ri
ce goes up
­ dema nd t
ends t
o go down
P ri
ce goes down ­
d emand
goes up
A ct
ion of
competi
tors
D ema nd f
or competi
tor
product
ri
ses,
w hen
they
lower
t
he
pri
ces
C ustomer i
ncome
T he more mon ey
is
avail
able
for
customers,…read more

Page 6

Preview of page 6

Here's a taster:

A sol
e t
rader
i
s an
indi
vi
du al
t
radi
ng
in
his
or
her
ow n
name,
or
under
a sui
tabl
e
t
radi
ng name.…read more

Page 7

Preview of page 7

Here's a taster:

C ons
P artners
sti
ll
have
un l
i
mited l
iabi
li
ty
E ach
partner
i
s l
iabl
e
for
decisi
ons ma de
by ot
h er
par
tners
­ even
if
t
h ey
had
no say
in t
he decisi
on
T here i
s a
risk
of
confl
ict
between
part
n er
s
Unl
imit
ed Liabi
li
ty
o T he busi
ne ss
and the
ow ner
are seen as
one under
the l…read more

Page 8

Preview of page 8

Here's a taster:

They need
over
50'000
Pound of
share
capit
al
and i
f
they'
re
li
sted
on a
stock
exchange,
at
l
east
25% of
thi
s must
be publ
icl
y avai
labl
e.
People
in
the
company can
ow n
the
rest
of
t
he shar
es
o They al
ways end
thei
r
name
w i
th
the
ini
ti
als
PLC .…read more

Page 9

Preview of page 9

Here's a taster:

People
w ho
ow n
the
comp any
(Shar
ehol
der
s)
do
not
necessar
il
y cont
rol
t
he company
Not
f
orProf
it
busi
nesses
o N ot
set
up t
o ma ke
a prof
it
o O f
ten t
o hel
p people
o r
benefi
t
the
commu ni
ty
o Run i
n
a si
milar
way t
o
other
businesses
H ave mone y
coming i
n and out
Mo ney generated
do es
not
go…read more

Page 10

Preview of page 10

Here's a taster:

Financing a business
o I t
cost a
lot
t
o star
t and
run a
business
N e w busi
ne sses
can not
usuall
y put
off
payi
ng costs
li
ke wages or
rent
s f
o r
premises.…read more

Comments

No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all resources »