1. Understanding Business Activity

1.1 Business Activity

The Nature of Business Activity

The Process of Adding Value

1.2 Classification of Businesses

Classification Using the Economic Sector

Classification Using the Public & Private Sector

1.3 Enterprise & Business Growth

Characteristics of Successful Entrepreneurs

Business Plans & Government Support

Measuring Business Size

Types of Business Growth

Overcoming Business Growth Issues

Reasons for Businesses to Remain Small

Why Businesses Fail

1.4 Types of Businesses

The Main Types of Ownership

Deciding on the Business Ownership Model

Public Sector Businesses

1.5 Business & Stakeholder Objectives

Business Objectives

Stakeholder Objectives

2. People in Business (HR)

2.1 Motivating Employees

The Benefits of Motivated Employees

Motivational Theories

Financial Methods of Motivation

Non-Financial Methods of Motivation

2.2 Organisation & Management of People

Organisational Charts & Roles

The Role of Management

Leadership Styles

Trade Unions

2.3 Recruitment, Selection & Training

Recruitment Methods

Choosing the Right Employee

Part-time Versus Full-time

Types of Training

Downsizing the Workforce

The Impact of Legislation on Employment

2.4 Internal & External Communication

Types of Communication Methods

Communication Barriers

3. Marketing

3.1 Customers, Marketing & Competition

The Role of Marketing

The Dynamic Nature of Markets

Niche & Mass Marketing

The Process of Market Segmentation

3.2 Market Research

The Role of Market Research

Primary Market Research

Secondary Market Research

Presenting & Using Market Research Data

3.3 The Marketing Mix

Product: Products & Brand Image

Product: The Product Life Cycle

Price: Types of Pricing Methods

Price: The Significance of Price Elasticity of Demand

Place: Types of Distribution Channels

Promotion

Technology & the Marketing Mix

3.4 Marketing Strategy

Developing Appropriate Marketing Strategies

The Impact of Legislation on Marketing

Entering Foreign Markets

Joint Ventures & Licensing

4. Operations Management

4.1 Production of Goods & Services

The Meaning of Production

The Concept of Lean Production

The Main Production Methods

The Impact of Technology on Production

4.2 Costs, Break-even & Production Scale

Different Types of Costs

Economies of Scale

Diseconomies of Scale

Break-even Charts

Break-even Calculations

The Limitations of Break-even Analysis

4.3 Quality Management

Quality Control & Assurance

4.4 Location Decisions

Different Location Needs for Manufacturing & Service Businesses

Influences on the Choice of Production Location

5. Financial Management

5.1 Business Finance

The Need for Business Finance

Internal & External Sources of Finance

Short-term & Long-term Sources of Finance

Choosing the best type of Finance

5.2 Cash-flow Forecasts & Working Capital

Using Cash-flow Forecasts

Solving Short-term Cash-flow Problems

The Importance of Working Capital

5.3 Income Statements

The Importance of Profit

The Main Features of an Income Statement

Using Income Statements to make Decisions

5.4 Statement of Financial Position

The Main Features of a Statement of Financial Position

Using the Statement of Financial Position to make Decisions

5.5 Analysing the Accounts

Profitability & Liquidity

Using Profitability Ratios to Analyse Performance

Using Liquidity Ratios to Analyse Performance

How Stakeholders use the Accounts

6. External Influences on Business Activity

6.1 Economic Issues

The Business Cycle

Government Impact on Business: Economic Objectives

Government Impact on Business: Taxes, Spending & Interest Rates

6.2 Environmental & Ethical Issues

Environmental Concerns: Externalities

Environmental Concerns: Pressure Groups

Ethical Issues to Consider

6.3 Business & Globalisation

The Importance of Globalisation

Tariffs & Quotas

The Importance of Multi National Companies (MNCs)

Benefits & Drawbacks to Countries of Hosting MNCs

The Impact of Exchange Rate Changes