AQA GCE Specification 2007 - Littleover Community School

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Business Studies - Advanced Subsidiary and Advanced, <strong>2007</strong> examination12 AS Module 3External Influences andObjectives and StrategyExternalInfluencesThis module section comprises external business influences which affect the decisionmakingprocesses on areas of Subject Content given in AS Modules 1 and 2.Candidates must have an awareness of how the business environment providesopportunities and imposes constraints on the pursuit of short-term and long-termobjectives.12.1 Economic Opportunities andConstraintsThe market and competitionDifferent market conditions: excess capacity versus capacity shortage;degree of competition in the market; fair versus unfair competition.Macro-economic issues inrelation to business,including:• The business cycle• Interest rates• Exchange rates• Inflation• Unemployment12.2 GovernmentalOpportunities andConstraintsUK and EU law (outlineknowledge only)12.3 Social and OtherOpportunities andConstraintsSocial responsibilitiesBusiness ethicsTechnological changeCauses (durables, stock levels and investment decisions), phases andimplications, eg business opportunities during upturn.Variations and their effects on demand, overheads, the pound (£) andinvestment decisions.Degree of fluctuation: direct and indirect effects upon the economyand business opportunities.Causes, importance of expectations, effects of inflation and deflationon firms, RPI.Types (structural and cyclical) and effects.Awareness of the purpose and degree of impact of laws regardinghealth and safety, employment, consumer protection and competition.Responsibilities to employees, customers and other stakeholders.Morality in decision-making; potential conflict of ethics with profit.Business opportunities (new products or process); fear and cost ofchange; effect on staff.20 klm
Advanced Subsidiary and Advanced, <strong>2007</strong> examination - Business StudiesObjectivesand StrategyThis module section draws together all the other modules, and the items given belowshould be seen as integrating themes which emphasise the interactive nature of thebusiness world. Emphasis in this section is on the strategic importance of clearobjectives.12.4 Starting a Small Firm This section considers the differing needs, problems andopportunities of manufacturing and tertiary businesses.Identifying an opportunityLegal structurePractical problems ofstart-upsSmall budget research and marketing; identifying a profitable productor service; protecting it (patents and copyright).Sole trader, private limited company, public limited company; limitedor unlimited liability; divorce of ownership and control.Finance, location, building a customer base, cash flow, business plan.12.5 Business ObjectivesCorporate aims and goalsShort versus long-termobjectivesConflicting and common aimsof stakeholders12.6 Business StrategySWOT analysisPurpose of agreeing aims from which objectives can be derived.Circumstances in which each may apply; implications for decisionmakingthroughout the business.Shareholders, staff, customers, suppliers, residents, the state; differingstakeholder and organisational objectives and priorities.Purpose and method; application in a wide range of functional andintegrated/corporate situations; value in gaining a full understandingof the market and the competitive forces within it.klm 21
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AQA GCE Specification 2007 - Littleover Community School

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