NAT 5 Business Management

UNIT 1 Understanding Business
1. The Business Environment
  1. The Role of Business
    1. Goods & Services
      1. Durable & Non Durable
      2. Tangible & Intangible
    2. Needs & Wants
    3. The Business Cycle
    4. Factors of Production
    5. Wealth Creation
    6. Sectors of Industry
  2. Types of Business Organisation
    1. Private Sector
      1. Sole Traders
        Advantages
        Disadvantages
      2. Partnerships
        Advantages
        Disadvantages
      3. Private Limited Company
        Advantages
        Disadvantages
    2. Public Sector
      1. National Government
      2. Local Government Organisations
    3. Third Sector
      1. Non-Profit Making Organisations
      2. Social Enterprises
  3. Customer Satisfaction
    1. How to Provide?
    2. Why is it Important?
  4. Objectives
    1. What is an Objective?
    2. Examples
2. Business Influences
  1. External Influences (PESTEC)
    1. Political
    2. Economic
    3. Social
    4. Technological
    5. Environmental
    6. Competitive
  2. Internal Influences
    1. Financial
    2. Human Resources
    3. Current Technology
  3. Stakeholders
    1. Internal
      1. Owners
      2. Shareholders
      3. Employees
    2. External
      1. Banks
      2. Customers
      3. Suppliers
      4. Local Community
      5. Pressure Groups
      6. Government
        National
        Local
    3. Interest & Influence
UNIT 2 Marketing & Operations
1. Marketing
  1. What is Marketing?
    1. Why is Marketing Important?
    2. The Role of Marketing
  2. Customers and Market Segments
    1. Why Segment?
    2. Methods of Segmentation
  3. The Marketing Mix
    1. Product
      1. Why is it Important?
      2. New Product Development
      3. Product Life Cycle
        Introduction
        Growth
        Maturity
        Decline
      4. Branding
        Advantages
        Disadvantages
    2. Price
      1. Why is it Important?
      2. Deicing on a Price
      3. Pricing Strategies
        Low Price
        High Price
        Promotional Pricing
        Cost-Plus Pricing
        Psychological Pricing
    3. Place
      1. Why is it Important?
      2. Deciding on a Location
      3. Distribution Methods
        Advantages
        Disadvantages
    4. Promotion
      1. Why is it Important?
      2. Advertising
        Methods of Advertising
        Advantages
        Disadvantages
      3. Other Promotion Methods
        Special Offers
        Free Samples
        Celebrity Endorsement
  4. Market Research
    1. Types of Market Research
      1. Field Research
        Advantages
        Disadvanatages
      2. Desk Research
        Advantages
        Disadvantages
    2. Why Carry Out Market Research?
    3. Methods of Market Research
      1. Personal Interview
      2. Focus Groups
      3. Postal Survey
      4. Telephone Survey
      5. Online Survey
      6. Hall Test
      7. Observation
      8. EPOS
      9. Social Neworking Website
2. Operations
  1. What is Operations?
    1. IPO
  2. Suppliers
    1. Selecting a Supplier
  3. Stock Management
    1. What is Stock?
    2. Consequences of Too Little Stock
    3. Consequences of Too Much Stock
  4. Methods of Production
    1. Job Production
      1. Advantages
      2. Disadvantages
    2. Batch Production
      1. Advantages
      2. Disadvantages
    3. Flow Production
      1. Advantages
      2. Disadvantages
    4. Capital vs Labour Intensive
      1. Advantages
      2. Disadvantages
  5. Quality
    1. Methods of Ensuring Quality
      1. Quality Control
        Advantages
        Disadvantages
      2. Quality Management
        Advantages
        Disadvantages
      3. Other Methods
        Advantages
        Disadvantages
    2. Why is it Important?
  6. Ethical & Environmental
UNIT 3 HRM & Finance
1. HRM
  1. The Role of the HRM
    1. Recruitment & Selection
    2. Motivation & Training
    3. Providing Safe Working Conditions
    4. Relationships
    5. Employee Pay
  2. Recruitment & Selection
    1. Recruitment Process
      1. Indentify a Vacancy
      2. Carry Out a Job Analysis
      3. Prepare a Job Description
      4. Prepare a Person Specification
      5. Advertise the Job
      6. Send Out Applications
    2. Selection
      1. Interviews
        Advantages
        Disadvantages
      2. References
      3. Test
        Advantages
        Disadvantages
  3. Training
    1. Induction Training
    2. On-The-Job Training
      1. Advantages
      2. Disadvantages
    3. Off-The-Job Training
      1. Advantages
      2. Disadvantages
  4. Motivation & Retaining
    1. Financial Incentives
      1. Salary
      2. Time Rate
      3. Overtime
      4. Piece Rate
      5. Bonus
      6. Commission
    2. Non-Financial Incentives
    3. (Flexible) Working Practices
      1. Examples
      2. Employee Benefits
      3. Employer Benefits
    4. Industrial Action
      1. Types of Industrial Action
      2. Impact
  5. Legislation
    1. The Equalities Act
    2. The National Minimum Wage Act
    3. The Health & Safety at Work Act
    4. Data Protection Act
2. Finance
  1. The Role of Finance
  2. Sources of Finance
    1. Ownership Capital
    2. Bank Loan
    3. Friends & Family
    4. Government Grants
      1. Support Organisations
    5. Bank Overdraft
    6. Hire Purchase
    7. Mortgage
  3. Break-Even
    1. Types of Costs
    2. Revenue
  4. Profit Statements
    1. Gross Profit
    2. Net Profit
  5. Technology in Finance
    1. Spreadsheets
  6. Cash Budgeting
    1. Cause of Poor Cash Flow
    2. How to Improve?
    3. Cash Budgets
      1. Advantages

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