Business Studies Collins Revision Guide. - StudyGuide.PK

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OBJECTIVES AND GROWTH (3)Growth●●●●●●A business can be measured in size in a variety of ways:■ sales turnover■ % market share■ number of employees■ value of the business■ the number of locations it covers.If a business is able to grow, it may benefit from economies ofscale. For example, savings may be made in buying raw materials ifthey are bought in large quantities.A business may have market domination as its aim. That means itaims to have the greatest market share so that it can set prices.Growth can be achieved through internal or external methods.■ Internal growth means becoming larger from within the business.■ External growth is expanding by taking over other businesses.External growth can be achieved through mergers. This is wheretwo companies of similar size join together. Another means is bytake-overs where one business is taken over by another.If a firm controls a large part of a market, is able to control theprice structure and prevent competitors surviving, it is said to havea monopoly. Any take-overs or mergers planned by a monopoly areusually subject to government control.11
Check yourselfObjectives and growth1 Match each term with its meaning. (3)3MonopolyA person with a financial interestin the businessMergerA business which controls a largepart of the marketStakeholderWhen businesses of a similar sizejoin together2 Who are the usual stakeholders in a business? (6)3 What is the difference between satisficing and maximising? (2)4 What objectives do owners usually have for their businesses? (3)5 Explain two objectives for employees in a business. (2)6 Explain how a customer’s objectives may conflict with those ofthe owner. (2)7 What are the two main types of growth? (2)The answers are on page 104. The answers are on page 00.12
Page 2 and 3: GCSEBusiness StudiesCarolyn LawderS
Page 4 and 5: Get the most out of yourInstant Rev
Page 6 and 7: OWNERSHIP AND CONTROL (1)Sole trade
Page 8 and 9: OWNERSHIP AND CONTROL (3)Limited co
Page 10 and 11: FORMS OF BUSINESS (1)Franchises●
Page 12 and 13: FORMS OF BUSINESS (3)ForEncourages
Page 14 and 15: ●OBJECTIVES AND GROWTH (1)Stakeho
Page 18 and 19: ●●●●RECRUITMENT AND SELECTI
Page 20 and 21: Check yourselfRecruitment and selec
Page 22 and 23: TRAINING (2)ContentInformation abou
Page 24 and 25: Check yourselfTraining1 Why is Heal
Page 26 and 27: ●●●MOTIVATION (2)The third le
Page 28 and 29: Check yourselfMotivation1 What are
Page 30 and 31: ●REWARDING EMPLOYEES (2)Disadvant
Page 32 and 33: Check yourselfRewarding employees1
Page 34 and 35: ●●●SOURCES OF FINANCE (2)A so
Page 36 and 37: SOURCES OF FINANCE (4)Long term●
Page 38 and 39: BUSINESS PLANS (1)What is a busines
Page 40 and 41: Check yourselfBusiness plans1 What
Page 42 and 43: ●●●●●●●●BREAK EVEN
Page 44 and 45: BREAK EVEN (4)●●Break even can
Page 46 and 47: ●●CASH FLOW FORECASTS (1)Cash f
Page 48 and 49: CASH FLOW FORECASTS (3)+60004000Net
Page 50 and 51: ●●●●●BUSINESS FINANCE (1)
Page 52 and 53: ●●BUSINESS FINANCE (3)Net profi
Page 54 and 55: BUSINESS FINANCE (5)Balance sheet
Page 56 and 57: Check yourselfBusiness finance1 Who
Page 58 and 59: MARKET RESEARCH (2)Desk research●
Page 60 and 61: MARKET RESEARCH (4)Sampling●●
Page 62 and 63: ●●MARKETING MIX (1)The marketin
Page 64 and 65: ●●●●●MARKETING MIX (3)Com
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MARKETING MIX (5)Advertising media
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MARKETING MIX (7)Place●●In the
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Check yourselfMarketing mix1 Explai
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●●●PRODUCT LIFE CYCLE (2)Not
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●PRODUCTION METHODS (1)Production
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PRODUCTION METHODS (3)Batch product
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PRODUCTION METHODS (5)Stock control
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PRODUCTION METHODS (7)Use of techno
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●●●●●QUALITY CONTROL (1)Q
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●●●●●QUALITY CONTROL (3)K
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LOCATION (1)Factors affecting the c
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LOCATION (3)Multinational organisat
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EXTERNAL ENVIRONMENT (1)●A busine
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EXTERNAL ENVIRONMENT (3)Equal oppor
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EXTERNAL ENVIRONMENT (5)Political i
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Check yourselfExternal environment1
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EXAMINATION TECHNIQUE (2)Coursework
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EXAMINATION TECHNIQUE (4)Command wo
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EXAMINATION TECHNIQUE (6)Pre-issued
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●●●●●EXAMINATION TECHNIQU
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Non pre-issued case studies●●
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Check yourself answers2 FORMS OF BU
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Check yourself answers4 RECRUITMENT
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Check yourself answers6 MOTIVATION
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Check yourself answers8 SOURCES OF
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Check yourself answers10 BREAK EVEN
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Check yourself answers12 1 ANSWER B
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Check yourself answers14 MARKETING
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Check yourself answers16 PRODUCTION
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Check yourself answers18 LOCATION (
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PerfectBoundAn e-book from HarperCo
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About the PublisherAustraliaHarperC
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