GCSE Business / Level 2 Business Revision Notes

GCSE / Level 2 Revision Notes

Quick links:
Enterprise and Entrepreneurs
Business Organisation & Objectives	The External Environment
Marketing	Finance
Managing People in a Business	Production and Operations

Enterprise and Entrepreneurs
What is enterprise?	Objectives of a business startup
Qualities of an entrepreneur	Sources of new business ideas
Risks and rewards of enterprise	Creative thinking by entrepreneurs
Invention	Innovation
Planning a startup	Contents of a startup business plan
Franchising for startups	Social enterprise
Adding value	Beating the competition as a new business

Business Organisation & Objectives
Aims and objectives of business	Starting a business
Departments in a business	Financing a new business
Growing a business	Sole traders
Partnerships	Limited companies
Franchises	Co-operatives
Span of control	Stakeholders and ethics

The External Environment
Introduction to the external environment	Economic sectors
The Business / Economic cycle	Business and globalisation
Government spending	Government taxation
Exchange rates	Interest rates - introduction
Effects of interest rate changes on business	Business and the Environment
Labour market and unemployment	Business and the law
Business and technology	Business ethics - introduction
Business ethics in practice	Europe and business

Marketing
What is marketing ?	Kinds of market
Marketing orientation	Market segmentation - introduction
Marketing's role in business	Market segments
Market mapping	Understanding customers
Marketing strategy - introduction	The marketing mix
How products are distributed	Marketing online - E-commerce
Distribution channels	Distribution intermediaries
Personal selling
Introduction to products	Brands
Product life cycle	Product portfolio - the Boston Matrix
Product differentiation & USPs	SWOT analysis & marketing
Promotion - introduction & overview
Promotion - advertising	Promotion - direct marketing
Promotion - sales promotion	Public relations and sponsorship
Marketing research - introduction
Marketing research - questionnaires	Marketing research - primary research
Quantitative & qualitative market research
Pricing - introduction	Pricing strategies
Pricing objectives

Finance
Introduction to finance	Why businesses need finance
Startups - finance considerations	Startups - Personal sources of entrepreneurs
Startup - cash flow problems	Causes of cash flow problems
Handling a cash flow problem
Understanding demand	Understanding business revenues
Introduction to cash flow	The cash flow forecast
Estimating revenues
What is profit?	How is profit used by a business?
How a business handles a loss
Business costs - overview
Breakeven	Breakeven and contribution
	Analysing financial performance
Balance sheet	Profit and Loss account
Sources of finance	Bank loans and overdrafts
Shares as a source of finance	Other external sources of finance
Depreciation	Why businesses need credit

Managing People in a Business
Communication in a business	Effective communication
Communication barriers	Management styles
Employee representation	Functions in a business
Organisation structures and charts	Span of control
	Delayering
Centralisation	Decentralisation
Motivating employees - introduction	Motivation - financial rewards
Methods of pay	Staff retention
Motivation - non financial rewards	Motivation - main theories
Recruitment - introduction	Recruitment - methods
Recruitment - interviews	Recruitment - job applications
Recruitment - workforce planning	Appraisal
Groups at work - trade unions	Handling industrial disputes
Training - introduction	Training - types of training
Employment legislation

Production and Operations
Choosing a business location	Stages of production
Economies of scale	Diseconomies of scale
Production efficiency	Improving business efficiency
The production process	Flow production method
Job production method	Batch production method
Lean production - introduction	Lean production - methods
Quality - introduction	Quality management - methods
Stock control

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