Business Studies Collins Revision Guide. - StudyGuide.PK

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Check yourself<strong>Business</strong> plans1 What is a business plan? (2)2 How is a business plan used after the business has beguntrading? (2)3 Which of the following items would not appear on a businessplan? (2)A Names, addresses and contact numbers of ownersB <strong>Business</strong> structure: sole trader, partnership, etc.C Value of goods sold last monthD Market researchE Copies of recent advertisements4 What information is needed concerning the assets owned bythe business? (2)5 Name two financial forecasts included in the business plan. (2)6 Why would a bank manager want to see if enough marketresearch had been done? (2)7 What must the financial data be on a business plan? (2)8 What should the owners investigate regarding the competition? (2)9 Give four reasons why future owners and managers would wantto see a business plan. (4)9The answers are on page 110.35
BREAK EVEN (1)Types of costs●When a business makes a product or gives a service there is a widerange of inputs that go into it. The business has to pay for theseand they are known as costs.MilkTeaElectricitySugarLabourWaterCup and saucerTea pot●●●●Fixed costs (FC) are those costs that do not vary directly withoutput. In making the cup of tea the cost of the teapot will stay thesame whether we make one cup of tea or three cups. Even if wemake no tea today we will still have paid for the teapot.Typical fixed costs include:■ rent or costs of premises■ rates■ interests on loans■ equipment.Variable costs (VC) are those costs that vary directly with output. Inmaking the cup of tea, the cost of the tea will vary according to howmany cups we make. One cup of tea uses one tea bag; three cups usethree tea bags. If we make no tea we will not use any tea bags at all.Typical variable costs include:■ ingredients or parts■ packaging■ wages of production workers.36
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 16 and 17: OBJECTIVES AND GROWTH (3)Growth●
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 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
Page 66 and 67: MARKETING MIX (5)Advertising media
Page 68 and 69: MARKETING MIX (7)Place●●In the
Page 70 and 71: Check yourselfMarketing mix1 Explai
Page 72 and 73: ●●●PRODUCT LIFE CYCLE (2)Not
Page 74 and 75: ●PRODUCTION METHODS (1)Production
Page 76 and 77: PRODUCTION METHODS (3)Batch product
Page 78 and 79: PRODUCTION METHODS (5)Stock control
Page 80 and 81: PRODUCTION METHODS (7)Use of techno
Page 82 and 83: ●●●●●QUALITY CONTROL (1)Q
Page 84 and 85: ●●●●●QUALITY CONTROL (3)K
Page 86 and 87: LOCATION (1)Factors affecting the c
Page 88 and 89: 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
Page 110 and 111:
Check yourself answers4 RECRUITMENT
Page 112 and 113:
Check yourself answers6 MOTIVATION
Page 114 and 115:
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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