Business National 5 Assignment Management

Unit 1.1 Business Activity

a)      Role of Business Organisations

§  Sectors of Economy (Private, Public & Third)

§  Sectors of Industry (Primary, Secondary & Tertiary)

§  Types of Business Organisations (Sole Traders, Partnerships, Ltd. & plc, Charities, Social Enterprises, and Public Corporations – i.e. BBC)

b)      What makes a Business successful?

§  Factors of Production (Land, Labour, Capital & Enterprise)

§  Customer Satisfaction (Customer complaints, After sales service)

c)      Objectives of Businesses

§  Survival

§  Growth

§  Profit Maximisation

§  Provide a Service

§  Social Responsibility

Unit 1.2 Business Influences

d)      Internal Factors

§  Finance

§  Labour/Human Resources

§  Technology

e)      External Factors

§  Political

§  Economic

§  Social

§  Technological

§  Environmental

§  Competitive

f)       Stakeholders

§  Owners/Shareholders

§  Managers

§  Employees

§  Banks

§  Customers

§  Suppliers

§  Government


Unit 2.1 Marketing

a)      Market Research

§  Market Segments

§  Field & Desk Research

§  Methods of Market Research (Questionnaire, Interviews, Telephone Survey, Postal Survey, Focus Groups, Consumer panels, Hall Test, Observation)

b)      Product Life Cycle

§  Stage by Stage

§  Extension Strategies

c)      Marketing Mix

§  Product (New Product Development, Branding)

§  Price (Pricing Strategies)

§  Place (Location decisions, Channels of Distribution)

§  Promotion (Methods of Promotion)

d)      Ethical Marketing

e)      Marketing and ICT

§  Tesco Clubcard

§  Spam email

Unit 2.2 Operations

a)      Choosing suppliers

§  Purchasing mix (Quality, quantity, reliability, price etc)

b)      Stock Control

§  Types of Stock

§  Over and Under Stocking

§  Stock Control Diagram

c)      Production Methods

§  Job

§  Batch

§  Flow

d)      Ethical and environmental

§  Wastage

§  Packaging

e)      Quality

§  Methods of Quality (Quality Control, Quality Assurance, TQM, Benchmarking, Quality Standards, Quality Circles)

f)       Technology and Operations

§  Automated Stock Control – use of Barcodes

§  EPOS - Checkout

§  CAD – designing the product

§  CAM – 3D printers


Unit 3.1 Human Resources

a)      Recruitment

§  Stages in Recruitment

§  Internal v External Recruitment

b)      Selection

§  Stages in Selection

§  Selection Methods

c)      Training

§  Induction

§  On the Job

§  Off the job

d)      Motivation

§  Maslow's Hierarchy of Needs

§  Theory X & Y

§  Non-financial methods

e)      Legislation

§  Health & Safety at Work Act

§  Equality Act

§  National Minimum Wage Act

Unit 3.2 Finance

a)      Sources of Finance

§  Bank Loan

§  Overdraft

§  Hire Purchase

§  Mortgages

§  Government Grants

b)      Break Even

§  Fixed & Variable Costs

§  Break Even Charts

§  Break Even Point & the Margin of Safety

c)      Cash Budgets

§  Interpretation of Cash Budgets

§  Cash Flow Problems & Solutions

d)      Profit and Loss Statements

§  Sales & Cost of Goods Sold

§  Gross Profit & Net Profit

e)      Technology in Finance

§  Spreadsheets

§  EPOS

§  Online Banking

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