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Business Studies Unit 1
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Mapa Mental sobre Business Studies Unit 1, creado por Megan Mitchell el 24/04/2016.
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business
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Resumen del Recurso
Business Studies Unit 1
Starting a business
Why start a business?
What is a business?
Business Location?
Objectives // Aims?
Social enterprise?
Gap in the market?
Market Mapping
Franchise
Advantages // Disadvantages
Stakeholder Influence?
Sole Trader
Partnership
Unlimited Liability
Marketing
Primary
Reliable, Cost, time consuming
Questionnaire!
Secondary
Non reliable, non costly, time consuming
Internet Research
Marketing Mix
Important?
4 P'S
Adapting to the product?
Finance
Sources
Bank loan
Overdraft
Grants
When to use them?
Advice?
Calculations!
Profit, Loss, Expenses, Revenue
Importance of cash?
Cash flow forecast!
Importance, Benefits?
Interpreting?
Solutions to problems
People in business
When to recruit workers
Recruitment methods
Payment?
Skills needed for job?, experince of worker, how much other familiar firms are paying
Attracting and keeping the best!
Monetary // Non Monetary
Full time, part time?
Job description
Specification
Advertise!
Short list candidates
Interviews
Internal // External recruitment
Motivation!!
Importance?
Techniques?
Protecting the staff
Equal pay, minimum wage, discrimanation legalisation, employment rights, health and safety acts
Operations Management
Job production // Batch production
Advantages // Disadvanatges
Operationally Efficient
Advantages
More operationally efficient?
Machinary, highly motivated workers, minimum wastage, faster production methods
Technology
Robots
Communication
Quality
How can it be achieved?
Customer Service
Reliability, pre sales advice, service at time of purchase, after sales purchase
Benefits?
Consumer Protection
Sales of goods act (Product is as described)
Consumer protection act (Suffers injury from product)
Competition act (fix prices)
Consumer protection (distance selling)
Consumer protection (unfair trading situations- Advertisements mislead or decieve
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