BUSINESS

STUDIES REVISION ACTIVITIES

Understanding the Scenario!

What type of

business is it?Who are the owners? What experience do they have?

What are the

issues/questions the

owners have?

Why was the business set up?

What is its purpose?

Are there any other

important clues?

WHAT IS THE DIFFERENCE BETWEEN…?

Primary research Secondary research

Qualitative data Quantitative data

Gross profit Net profit

Cash flow Profit

Sales Revenue Turnover

Fixed cost Variable cost

Current asset Fixed asset

Asset Liability

Batch production Flow production

WHAT IS THE DIFFERENCE BETWEEN…?

Franchisor Franchisee

Bank loan Mortgage

Creditors Debtors

Hire Purchase Leasing

Overdraft Bank loan

Share capital Debentures

Profit and Loss Account

Balance Sheet

Bank loan Selling shares

LINKS - MARKETINGHow does … Influence ….

Price Promotion

Place Price

Product Price

Product Promotion

Place Promotion

Product Place

ETHICS AND SUSTAINABILITYDefine

Explain

Examples

Benefits to a business

CALCULATIONS & FORMULAEProfit

Sales Revenue/Turnover

Total Costs

Net Cash Flow

ANALYSISSituation (Cause) Results (What is the Effect on a business?)

Business increases prices

Negative cash flow

Decrease in profit

Staff leaving

Selling online (e-commerce)

New competitor

Costs increase

Poor customer service

Quality issues

De-motivated staff

PRODUCTIONBatch Job Flow Lean

OBJECTIVES

SMALL BUSINESS LARGE BUSINESS

STAKEHOLDERS INTERESTS• OWNERS

• EMPLOYEES

• MANAGERS

STAKEHOLDERS INTERESTS

• SUPPLIERS

• COMMUNITY

• CUSTOMERS

Explain Reason:Why could this option be a good/poor one?

Chain of argument:Impact on this business given it’s circumstances

PositiveOn the one hand it would be good for xxx because….(theory)

This could result in….

Negative However…

Conclusion (worth 5 marks!)

Overall I think…

I have chosen this option (instead of xxxxxx) because…• It is most realistic• Cheapest to implement• Fits in with the organisations objectives• Avoids having to….• It could lead to…

An alternative could be….

PLANNING YOUR ANSWER (9 MARKS)

Explain Reason:Why could this option be a good/poor one?

Chain of argument:Impact on this business given it’s circumstances

Positive

Negative

Conclusion (worth 5 marks!)

PLANNING YOUR ANSWER (9 MARKS)

Explain Reason:Why could this option be a good/poor one?

Chain of argument:Impact on this business given it’s circumstances

Positive

Negative

Conclusion (worth 5 marks!)

PLANNING YOUR ANSWER (9 MARKS)