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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

Changing & Differing Objectives Flashcards

All 6 cards in this deck

Give three reasons a business's aims and objectives may change as it evolves.: Any three of: the business grows from a start-up into an established firm; new legislation; changes in the economy; new technology; more competition; poor performance; changing environmental expectations.
How can increased competition in a market change a business's aims?: Aims may shift from growth towards survival.
How can technology change a business's aims and objectives?: New technology can prompt aims to create new innovative products or services, e.g. selling online or using new payment systems.
How can poor performance change a business's aims and objectives?: It may lead to new aims focused on improving sales, revenue, profit or productivity.
Give two reasons why aims and objectives differ between businesses.: Any two of: their size (e.g. a new business aims to survive, an established one aims for profit or growth); the level of competition; the owner's personal reasons for running the business.
Give one reason a growing business may stop aiming for growth.: It may be as big as the owner can control well; growing further could weaken control and customer service, so it aims to keep or improve profit instead.