F297 Business Studies

Brief overview of the Spec for F297

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  • Created by: EAPFH
  • Created on: 05-01-15 11:43

Business Objectives and Strategy

  • Formation of Objectives @ Tactical and Strategic Levels
  • Differentiate between short term tactics and long term strategy
  • Assess the significance of communication of objectives, through missions and corporate plans
  • The impact that differing stakeholder objectives may have on the behaviour and decisions of a business
  • Conflict between risk and reward
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Business Analysis

  • Significance of Constant review of market and enviromental circumstances, incl International.
  • Conduct a time series analysis, to produce forecasts
  • Significance of Data analysis with reference to gathering information and summarising data 

Decision-Making

  • Ansoff's matrix as an anaylitical tool for decision making.
  • Decision trees
  • Critical path anaylsis for allocating resources
  • ICT to help decision making; management information systems 

Business Performance

  • Determination of employee, contribution to objectives; productivity and absenteeism
  • Business Ratios
  • Capital share; Gearing
  • Budgets: with respect to Communication, control and motivation
  • Adverse and positive variances and causes
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External Influences

Macro factors

  • Causes of Market failure, and response from Gov
  • Labour markets; skill shortages and surpluses, net migration 
  • Unemployment, different types and impact
  • Interest rates, exchange rates and taxation rates; strategic implication Local national and Int
  • International competetiveness
  • inflation and deflation 
  • Business cycle 
  • Economic growth; effects on Gov,Business, Gov behaviour, business activity

Legal Issues

  • Legal behaviour and decision; contract law basis of employment

political and Social issues

  • Political changes; EU, national, local 
  • opportunity and threats to corporate success
  • styles and degrees of Gov intervention 
  • Signif of Nationalisation/privatisation/Laissez-faire
  • Signif of stte of consumer/provider, supporter and source of constraints
  • Role and limits of corporate responsibility in decision making 
  • Changing patterns of employment 
  • Business Behaviour modified in light of moral, ethical and spiritual issues
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External Influences II

Technoligical factors

  • Impact of technological changes on a business

Enviromental issues

  • Enviromental audits as a means of reducing process waste
  • External costs and benifits
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External Influences II

Technoligical factors

  • Impact of technological changes on a business

Enviromental issues

  • Enviromental audits as a means of reducing process waste
  • External costs and benifits
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Change

  • Understanding of communication; methodologies and effective consultation, shared values, barriers to effective communication, overload, remoteness from audience, attitudes 
  • Causes of CHANGE
  • Management of CHANGE
  • Crisis and contingency management 
  • Teamwork, motivation and leadership in achieving change 
  • Organisational Culture and employee participation
  • Employer and employee relationships individual levels and collective
  • Trade unions; impact of their role in achieving corporate objectives
  • Flexi-working, zero hour contracts and sub contracting
  • Strategy for avoiding conflict
  • Reasons for changing location/importance of location 
  • Strategy for responding to changes in market demand 
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