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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

2.1 The Role of Marketing Flashcards

All 6 cards in this deck

Give one reason why it is important for a business to identify and satisfy customer needs.: Any one of: to provide a product or service that customers will buy; to increase sales; to select the correct marketing mix; to avoid costly mistakes; to be competitive.
Give two reasons why a business promotes its products.: Any two of: to inform or remind customers about the product; to create or increase sales; to create or change the image of the product; to persuade customers to buy the product.
How can failing to understand customer needs threaten a small business's survival?: Customers buy from competitors instead, so sales and revenue fall and the business may not cover its costs.
What is marketing?: The process of identifying and understanding customers, informing them about products and encouraging them to buy, in order to increase sales.
Why is it important for a business to inform customers about its products?: Customers cannot buy a product they do not know exists, so informing them creates awareness and interest.
Give one benefit to a business of increasing its sales.: Higher revenue, which can lead to higher profit.