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
    • Theme 2: Growing the business >
      • Topic 2.1 Growing the business >
        • 2.1.1 Business growth
        • 2.1.2 Changes in business aims and objectives
        • 2.1.3 Business and globalisation
        • 2.1.4 Ethics, the environment and business
      • Topic 2.2 Making marketing decisions >
        • 2.2.1 Product
        • 2.2.2 Price
        • 2.2.3 Promotion
        • 2.2.4 Place
        • 2.2.5 Using the marketing mix to make business decisions
      • Topic 2.3 Making operational decisions >
        • 2.3.1 Business operations
        • 2.3.2 Working with suppliers
        • 2.3.3 Managing quality
        • 2.3.4 The sales process
      • Topic 2.4 Making financial decisions >
        • 2.4.1 Business calculations
        • 2.4.2 Understanding business performance
      • Topic 2.5 Making human resource decisions >
        • 2.5.1 Organisational structures
        • 2.5.2 Effective recruitment
        • 2.5.3 Effective training and development
        • 2.5.4 Motivation
    • Revision >
      • Theme 1 >
        • Flash cards
        • MCQ
      • Theme 2 >
        • Flash Cards
  • 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
    • Class list >
      • 13R
      • 13 Q
  • 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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1.3.2 Business revenues, costs and profits

The concept and calculation of:
● revenue
● fixed and variable costs
● total costs
● profit and loss
● interest

​Interpretation of break even diagrams:
● the impact of changes in revenue and costs
● break even level of output
● margin of safety
● profit and loss
● margin of safety.

Starter

Why is it important to understand your costs, and where they come from?
How will costs influence the marketing mix?
How do you think all you can eat restaurants calculate profit?
How All You Can Eat Restaurants Make Money

Different types of costs

What do you think the difference is between a fixed cost and a variable cost?
Identify what the following costs may be and if you think they are fixed or variable:
Rent

Raw materials

Wages/salary

Insurance
Piece rate pay

Stock

Advertising

Depreciation (straight line method) 
Business (council) rates

Interest payment on borrowings

Energy used in production

Delivery costs

Profit & Loss

Race to a million - who'd earn a million first Apple, BP, Walmart, Pepsi?
How is it possible for sales to increase but profits to fall?
​Revenue = price × quantity

TC (total cost) = TFC (total fixed costs) + TVC (total variable costs)

Profit = Revenue - TC
How might the following costs change with output?
> Raw materials
> Wages
>Packaging 
> Rent
> Business rates

Calculating Interest

What is interest repayments?

What type of cost are they and why? Fixed or variable?

Why are they important for an individual to understand?
Wonga

Why is it important for the Government to understand?
UK Govt interest 

Why is understanding the interest repayable on loans important for a business?
A01 - Reason
A03 - B
          L
         T

What is the key term to consider when looking at repaying interest for an entrepreneur?
Bankruptcy in the UK         

Formula:
​
Students will be expected to know how to calculate the total amount of interest as the percentage of total repayment for a mortgage or loan.

Interest (on loans) in % = [(total repayment - borrowed amount) / borrowed amount] x 100

​

Break-even

What does the word break-even mean to you?
On a white board how would you plot the following costs and revenue? TR, FC, TVC, TC
           Costs / Revenue 
Picture
                                                                                Quantity 
Breakeven Analysis - Charts
Why would a business want to conduct break-even analysis? 
Tutor2u break-even simulator
What are the advantages of having a low break-even point?

BBC revision
Tutor2u quiz

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