Unit 1 applied business studies - key information

Key information on a powerpoint in which you will need to have knowledge of for the Unit 1 applied business exam.
I created this for my exam and it helped lift alot of pressure for me during the exam and helped with questions.

Hope it helps:) 

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Slide 1

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Revision…read more

Slide 2

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Business Aims and
Aim: Long-Term Goal for the business.
Example.. For the business to be environmentally friendly.
Objective: Specific targets made to help the business meet the aim.
Example..To ensure all products packaging is recyclable.
S MART - explain what is to be achieved.
M EASURABLE-toaestablish
form of measurement is essential
what has been achieved.
ACHIEVABLE -should provide a challenge but should
be capable of being delivered.
it should be reasonable to expect that the objective
be met by those responsible for doing so.
T IME-BOUND -whenIt should have a defined timescale setting out
the objective should be achieved.…read more

Slide 3

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Sole Trader: Business owned and set up by one person alone, using
their own capital - making their own decisions.
Partnership: Business owned and set up by 2-20 people, using
their own capital - making all their decisions together.
Limited Businesses owned by shareholders, although run by
Companies: managers and directors.
Public Sector: Businesses owned by the government e.g.
NHS, Schools etc.
RegisteredBusinesses which are able to set their own
Charities: objectives within a legal criteria, is a non-
profit organisation.…read more

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Functional Areas in a
manufacturing company...
Functional Areas Tasks
The making of the goods. May also relate to the provision of
Production service.
Selling the products to the customer.
Finding out what the customer wants and the best way of meeting
Marketing their needs, promoting products to potential customers.
Buying raw materials and components needed in production.
Keeping financial record, producing annual accounts, keeping
Finance accurate records of costs and revenues.
Attending to staffing requirements, ensuring correct processes
Human Resources and procedures are in place for the staff.
Ensuring workplace safety and legislation needs are met.
Health and Safety
Delivering the products to the customers.
Logistics…read more

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Business Structures and job
Job Roles:
Production operative / Support staff…read more

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How Businesses Obtain
Recruitment Process:
Vacancy Occurs
Gain company authority to recruit
Draw up job description and person specification
Agree the methods for selecting applicants
Advertise the vacancy as widely as possible
Short list applications for selection
Hold selection event and capture relevant information
e.g. interviews
Review candidate information against role
requirements and make decision…read more

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Slide 9

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Slide 10

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