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Business

GCSE · OCR

QuestionsFlashcards

1.1 Business Enterprise & Entrepreneurship
- The Purpose of Business Activity
  8
- The Nature of Enterprise
  11
1.2 Business Planning
- Why Write a Business Plan?
  4
- The Business Plan
  10
1.3 Business Ownership
1.4 Business Aims & Objectives
- Aims & Objectives
  8
- Changing & Differing Objectives
  6
1.5 Stakeholders in Business
- Stakeholders
  9
- Stakeholder Considerations
  12
1.6 Business Growth
- Organic Growth
  6
- External Growth
  12

3.1 The Role of Human Resources
3.2a Organisational Structures
- Different Organisational Structures
  10
- Organisation Charts
  8
3.2b Different Ways of Working
3.3 Communication in Business
3.4 Recruitment & Selection
3.5 Motivation & Retention
3.6 Training & Development
- Training & Development Methods
  15
- The Importance of Training & Development
  13
3.7 Employment Law

4.1 Production Processes
- Methods of Production
  15
- Technology in Production
  10
4.2 Quality of Goods & Services
- Quality
  9
- Methods of Ensuring Quality
  10
4.3 The Sales Process & Customer Service
- The Sales Process
  16
- Customer Service
  11
4.4 Consumer Law
4.5 Business Location
4.6 Working with Suppliers
- Procurement
  9
- Logistics & Supply Decisions
  9

5.1 The Role of Finance
5.2 Sources of Finance
- Financing Business Activity
  14
- Choosing Appropriate Sources of Finance
  24
5.3 Revenue, Costs, Profit & Loss
5.4 Break-Even
- The Importance of Break-Even
  7
- Using Break-Even
  2
5.5 Cash & Cash Flow
- The Importance of Cash
  10
- Cash Flow Forecasting
  15

6.1 Ethical & Environmental Considerations
- Ethical Considerations
  16
- Environmental Considerations
  15
6.2 The Economic Climate
6.3 Globalisation

Aims & Objectives Flashcards

All 8 cards in this deck

Name five aims and objectives a business might have.: Profit, survival, growth, providing a service and market share.
What is a business aim?: The overall target or goal that a business works towards.
What is a business objective?: A specific step or target a business needs to achieve in order to meet its overall aim.
Why is survival usually the main financial aim of a new business?: A new business has start-up costs and few regular customers at first, so it must cover its costs and keep a positive cash flow before it can aim for profit.
Give two objectives a business focused on growth might set.: Any two of: increase sales or profit; widen the product range; enter new markets; increase market share; open more outlets; take on more staff; take over other businesses.
What does the objective 'providing a service' mean?: The business aims to meet customers' or the community's needs rather than to maximise profit, e.g. a charity or a village shop.
Give one risk of a business trying to maximise its profit.: Customers may feel they are being overcharged and buy elsewhere, so sales fall.
Why may an increase in sales not lead to higher profit?: Any one of: the business may have cut its prices to win the extra sales, so it earns less on each one; its costs may have risen faster than its revenue.