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BUSS2 Credit sales are just revenue because they have made
the money but it has not yet been paid.
There are many sources of cash inflows but only 1
A good budget must be:
source of revenue, customers.
Be consistent with the aims of the business.
Be based on the…

Page 2

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Labour turnover is the proportion of employees leaving a
business over a given period of time. They can have a narrow or wide span of control and this
= number of leaving staff/average number of staff x describes the number of people under the supervision of any
100 one manager.…

Page 3

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Managers must relinquish control in order to make Operations management is about producing the right amount
the sub ordinates feel trusted. of a good or service, at the right time, of the right quantity, at
Advantages the lowest costs in order to meet customer expectations.
Inexperienced employees are not required…

Page 4

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Continuous improvement: this is small and regular Storage space is much less.
improvements in quality by each member of staff.
Leads to big changed are a business's ethos. Computer Aided Manufacture
Benchmarking: is where employees aim to meet the Robotics and machinery can 24/7 without breaks.
same standards as the…

Page 5

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o Specific skills needed o They have been developed to combat
o Personality unemployment in developed countries.
Job evaluation is where the job is assessed compared Job centres
to other jobs and is the salary is designated o Advertises job vacancies that employers
accordingly. This encourages equal pay. It is…

Page 6

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It provides better means of communication with the
employee and the employer. Non-financial incentives:
The employee understands how they could improve.
Able to set new targets to motivate staff. Job enrichment is increasing the depth of the job by increasing
the amount of authority to the employee.
Financial incentives for…

Page 7

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Below -1, the product is elastic. This means that the change in The behaviour of a product is standard. It goes:
demand is greater than the change in price so they should Research and development
lower their prices. However, demand will be costly as higher Growth
production needed and more…

Page 8

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o This is where a business will try to create a
good public image and reputation.
Merchandising
o Where a brand will use their logo or name
in order to promote another product e.g.
football club merchandise.
Branding
o Merchandise is given a brand name. The
business can market the…

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