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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

7.2 The Impact of Risk & Reward on Business Activity Flashcards

All 8 cards in this deck

Give two activities a business can undertake to minimise risk.: Any two of: preparing a business plan; carrying out market research; training employees; carrying out risk assessments.
Give one risk faced by a business operating in a changing market.: Any one of: increasing competition reducing sales; bad publicity from negative media attention; falling demand as customer tastes change.
True or false? Taking a risk when starting a business guarantees a reward.: False. The business may fail and the entrepreneur may make a financial loss instead.
What is risk in business?: The chance that a business decision will lead to loss or failure, e.g. a new product launch that does not sell.
What is reward in business?: The benefit a business gains from taking a risk, e.g. higher profit, increased sales or a larger market share.
Which parts of a business are affected by a risk the business takes?: All the business functions: marketing, operations, finance and human resources.
True or false? A business decision with a higher level of risk usually offers the chance of a higher reward.: True. So a business must weigh the possible reward against the possible loss before deciding.
Why does borrowing to pay for a decision add to its risk?: The loan must still be repaid even if the decision fails and the hoped-for profit never comes.