Business in the Real World

The Purpose & Nature of Businesses

The Purpose of Business

The Nature of Business

Factors of Production

Sectors of Industry

Business Enterprise & Entrepreneurship

The Dynamic Nature of Business

Business Ownership

Sole Traders & Partnerships

Private & Public Ltd Companies

Not-for-profit Organisations

Choosing an Appropriate Legal Structure

Setting Business Aims & Objectives

Business Aims & Objectives

Changing Business Objectives

Using Objectives to Judge Success

Stakeholders

Key Business Stakeholders

Business Location

Factors Influencing Business Location

Business Planning

The Purpose of Business Planning

Expanding a Business

Business Expansion

Economies & Diseconomies of Scale

Influences on Business

Technology

The Impact of ICT on Business Activity

Ethical & Environmental Considerations

Business Ethics

Environmental Considerations

Sustainability

The Economic Climate

Economic Factors

Globalisation

How UK Businesses Compete Internationally

Exchange Rates

Legislation

Legislation & Business

Competitive Environment

Operating in Competitive Markets

Risks & Uncertainty

Business Operations

Production Processes

Producing Goods & Services

Efficiency in Production

The role of Procurement

Managing Stock

Choosing Suppliers

Procurement & Logistics

The Concept of Quality

The Importance of Quality

Measuring & Identifying Quality Problems

Ensuring Consistent Quality

Good Customer Service

Customer Service in Business

ICT & Customer Service

Human Resources

Organisational Structures

Key Principles of Organisational Structures

Management & Communication in Different Structures

Recruitment & Selection of Employees

The Need for Recruitment

The Recruitment Process

The Selection Process

Contracts of Employment

Motivating Employees

Ways to Motivate Employees

Training

The Importance of Training

Methods of Training

Marketing

Identifying & Understanding Customers

Customer Needs & Wants

Segmentation

Segmenting the Market

The Purpose & Methods of Market Research

The Purpose of Market Research

Methods of Market Research

Using Market Research Data

The Elements of the Marketing Mix

An Introduction to the Marketing Mix

Price

Product

Product Portfolios

Promotion: The Promotional Mix

Place

Place: E-commerce & M-commerce

Integrating Elements of the Marketing Mix

Finance

Sources of Finance

The Need for Finance

Sources of Finance

Cash Flow

The Importance of Cash Flow

Cash Flow Forecasts

Using Cash Flow Forecasts

Financial Terms & Calculations

Financial Terms & Calculations

Investment Projects

Break-even

Using Break-even

Analysing the Financial Performance of a Business

An Introduction to Financial Statements

The Income Statement

Using the Income Statement

The Statement of Financial Position

Evaluating Financial Performance