Business Studies
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  • Edexcel GCSE
    • Theme 1: Investigating small business >
      • Topic 1.1 Enterprise and entrepreneurship >
        • 1.1.1 The dynamic nature of business
        • 1.1.2 Risk and reward
        • 1.1.3 The role of business enterprise
      • Topic 1.2 Spotting a business opportunity >
        • 1.2.1 Customer needs
        • 1.2.2 Market research
        • 1.2.3 Market segmentation
        • 1.2.4 The competitive environment
      • Topic 1.3 Putting a business idea into practice >
        • 1.3.1 Business aims and objectives
        • 1.3.2 Business revenues, costs and profits
        • 1.3.3 Cash and cash-flow
        • 1.3.4 Sources of business finance
      • Topic 1.4 Making the business effective >
        • 1.4.1 The options for start-up and small businesses
        • 1.4.2 Business location
        • 1.4.3 The marketing mix
        • 1.4.4 Business plans
      • Topic 1.5 Understanding external influences on business >
        • 1.5.1 Business stakeholders
        • 1.5.2 Technology and business
        • 1.5.3 Legislation and business
        • 1.5.4 The economy and business
        • 1.5.5 External influences
  • AQA GCSE
    • Unit 1 – Setting up a Business >
      • 1. Starting a Business >
        • 1.1 Starting a Business Enterprise
        • 1.2 Setting Business Aims and Objectives
        • 1.3 Business Planning
        • 1.4 Choosing the Appropriate Legal Structure for the Business
        • 1.5 Choosing the Location of the Business
      • Topic 1.2 Spotting a business opportunity
      • 2. Marketing >
        • 2.1 Conducting Market Research with Limited Budgets
        • 2.2 Using the Marketing Mix
      • 3. Finance >
        • 3.1 Finance and Support for a Small Business
        • 3.2 Financial Terms and Simple Calculations
        • 3.3 Using Cash Flow
      • 4. People in Businesses >
        • 4.1 Recruiting
        • 4.2 Motivating Staff
        • 4.3 Protecting Staff through Understanding Legislation
      • 5. Operations Management >
        • 5.1 Production Methods for Manufacturing and Providing a Service
        • 5.2 Customer Service
      • Answer Technique Bus 1
    • Unit 2: Growing as a business >
      • Key Terms
      • 1. Business Organisation >
        • 1. 1 Expanding the business
        • 1.2 Choosing the right legal strucutre
        • 1.3 Aims and objectives
        • 1.4 Location
      • 2. Marketing >
        • 2.1 The Marketing Mix - Product
        • 2.2 The Marketing Mix - Price
        • 2.3 The Marketing Mix - Promotion
        • 2.4 The Marketing Mix - Pace
      • 3. Finance >
        • 3.1 Finance for Large Businesses
        • 3.2 Profit and Loss Accounts
        • 3.2 Balance Sheets
      • 4. People in Businesses >
        • 4.1 Organisational Charts
        • 4.2 Recruitment & Retention of staff
      • 5. Operations Management >
        • 5.1 Production Methods
        • 5.2 Recognising Challenges of Growth
        • 5.3 Quality Assurance
      • ILA >
        • 1. The Business Organisation
        • 2. Marketing
        • 3. Finance
        • 4. People in Businesses
        • 5. Operations Management
    • Unit 3
  • A level Business Studies
    • Theme 3: Decisions and Strategy >
      • 3.1 Business objectives and strategy >
        • 3.1.1 - Objectives & Strategy
        • 3.1.2 - Theories of Corporate Stratergy
        • 3.1.3 - SWOT analysis
        • 3.1.4 - Impact of external influences
      • 3.2 Business growth >
        • 3.2.1 - Growth
        • 3.2.2 - Mergers & Takeovers
        • 3.2.3 - Organic Growth
        • 3.2.4 - Reasons for staying small
      • 3.3 Decision-making techniques >
        • 3.3.1 - Sales forecasting
        • 3.3.2 - Investment appraisal
        • 3.3.3 - Decision trees
        • 3.3.4 - Critical path analysis
      • 3.4 Influences on business decisions >
        • 3.4.1 Corporate influences
        • 3.4.2 Corporate culture
        • 3.4.3 Shareholders versus
        • 3.4.4 Business ethics
      • 3.5 Assessing competitiveness >
        • 3.5.1 Interpretation of financial statements
        • 3.5.2 Ratio analysis
        • 3.5.3 Human resources
      • 3.6 Managing change >
        • 3.6.1 Causes and effects
        • 3.6.2 Managing Change
        • 3.6.3 Scenario planning
    • Theme 4: Global business >
      • 4.1 Globalisation >
        • 4.1.1 Growing economies
        • 4.1.2 International trade and business growth
        • 4.1.3 Factors contributing to increased globalisation
        • 4.1.4 Protectionism
        • 4.1.5 Trading blocs
      • 4.2 Global markets and business expansion >
        • 4.2.1 Conditions that prompt trade
        • 4.2.2 Assessment of a country as a market
        • 4.2.3 Assessment of a country as a production location
        • 4.2.4 Reasons for global mergers or joint ventures
        • 4.2.5 Global competitiveness
      • 4.3 Global marketing >
        • 4.3.1 Marketing
        • 4.3.2 Niche markets
        • 4.3.3 Cultural/social factors
      • 4.4 Global industries and companies >
        • 4.4.1 The impact of MNCs
        • 4.4.2 Ethics
        • 4.4.3 Controlling MNCs
    • Pre-release >
      • 2017 Fitness Industry
  • Btec
    • Level 3 >
      • Unit 3: Personal & Business Finance >
        • A: Personal Finance >
          • A1 Functions & role of money
          • A2 Different ways to pay
          • A3 Current accounts
          • A4 Managing personal finance
        • B: Explore the personal finance sector >
          • B1 Features of financial institutions
          • B2 Communicating with customers
          • B3 Consumer protection for personal finance
          • B4 Information guidance & advice
        • C: Understanding the purpose of accounting >
          • C1 Purpose of accounting
          • C2 Types of income
          • C3 Types of expendicture
        • D: Sources of finance >
          • D1 Internal
          • D2 External
        • E: Break-even & Cash flow >
          • E1 Cash flow forecasts
          • E2: Costs & Break-even
        • F: Statement of accounts >
          • F1 Statement of comprehensive income
          • F2 Statement of financial position
          • F3 Measuring porfitability
          • F4 Measuring liquidity
          • F5 Measuring efficiency
          • F6 Limitations of ratios
      • Unit 6: Principals of management >
        • A Functions of management >
          • A1 Definitions management & Leadership
          • A2 Functions of management & leadership
          • A3 Business Culture
        • B Management & Leadership: Styles & Skills >
          • B1 & B2 Management & Leaderships styles
        • C Managing Human Resources >
          • C1 Human Resources
          • C2 Human Resource Planning
        • D Factors influencing management, motivation and performance of the workforce >
          • D1 Motivation in the workplace
          • D2 Techniques to meet skills requirements
          • D3 Training and development
          • D4 Performance appraisal
        • E Impact of change >
          • E1 Managing change
        • F Quality management >
          • F1 Quality standards
          • F2 Developing a quality culture
          • F3 The techniques and tools of quality management
          • F4 The importance and benefits of quality management
      • Unit 7: Business Decission Making >
        • A: Business plans >
          • A1 Business ideas
          • A2 Purpose and structure of the business
        • B: Decision making in business >
          • B1 Sources for data collection
          • B2 The use of business models to aid decision making
          • B3 Techniques to analyse data effectively for business purposes
          • B4 Appropriate formats for decision making in a business context
          • B5 Software-generated information for decision making in an organisation
        • C: Use of research to justify the marketing >
          • C1 Types of research
          • C2 Competitor analysis
          • C3 Trends
          • C4 Marketing plan
        • D: Efficient operational management of the business >
          • D1 Legislation
          • D2 Quality issues
        • E: Understand the importance of managing resources >
          • E1 Human resources
          • E2 Physical resources
          • E3 Financial resources
        • F: Creation and interpretation of financial forecasts >
          • F1 Creation and analysis of a sales forecast
          • F2 Create and interpret a cash flow forecast
          • F3 Creation and interpretation of a break-even chart
          • F4 Creation and interpretation of an income statement
          • F5 Creation and interpretation of a statement of financial position
        • G: Viability of a business >
          • G1 Ratio analysis
          • G2 Threats and ‘what if’ scenarios
          • G3 Contingency plan
        • H: Demonstrate business skills/IT skills >
          • H1 Business skills
          • H2 Use IT skills to create appropriate documentation
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ILO:

H1 Business skills
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 Consideration of all key factors and alternative approaches.

 Consideration of risk (legal, reputation, financial) when making final recommendations/judgements.

Measuring and Analysis of Risks

Legal - a business would need to meet any legislation, regardless of the implications if it wishes to operate in the UK. Failure to do so can harm the firms reputation and the business may face fines, or owners even jail. 

Reputation - this is needed to support the brand image and broad differentiation. How the business develops its 7P's in response to its external environment will determine the quality of a firms reputation among customers. This is often needed for L/T success.  

Financial - there are numerous laws associated to VAT, wages, pensions, NIC, corporation tax etc. These can all add to the costs of a business which they need to be aware of. For any business taking on a new venture, the associated start up costs can put a strain on cash flow and lead to liquidity problems if finance is not appropriately secured prior to the investment and various 'what if' scenarios not considered. 
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