Author: Jack Turner

Making human resource decisions GCSE Business Studies; is the final topic in this course. Watch the lessons and take the tests we have prepared to ensure you are ready for the exam.

2.5.1 Organisational structures

Different organisational structures and when each are appropriate:
● hierarchical and flat
● centralised and decentralised.
The importance of effective communication:
● the impact of insufficient or excessive communication on efficiency and motivation
● barriers to effective communication.
Different ways of working:
● part-time, full-time and flexible hours
● permanent, temporary, and freelance contracts
● the impact of technology on ways of working: efficiency, remote working.

2.5.2 Effective recruitment

Different job roles and responsibilities:
● key job roles and their responsibilities: directors, senior managers, supervisors/team leaders, operational and support staff.
How businesses recruit people:
● documents: person specification and job description, application form, CV
● recruitment methods used to meet different business needs (internal and external recruitment).

2.5.3 Effective training and development

How businesses train and develop employees:
● different ways of training and developing employees: formal and informal training, self-learning, ongoing training for all employees, use of target setting and performance reviews.
Why businesses train and develop employees:
● the link between training, motivation and retention
● retraining to use new technology.

2.5.4 Motivation

The importance of motivation in the workplace:
● attracting employees, retaining employees, productivity.
How businesses motivate employees:
● financial methods: remuneration, bonus, commission, promotion, fringe benefits
● non-financial methods: job rotation, job enrichment, autonomy.

Making financial decisions GCSE Business Studies; in this topic we will learn that making financial decisions can make or break a business.

2.4.1 Business calculations

The concept and calculation of:
● gross profit
● net profit
Calculation and interpretation of:
● gross profit margin
● net profit margin
● average rate of return.

2.4.2 Understanding business performance

The use and interpretation of quantitative business data to support, inform and justify business decisions:
● information from graphs and charts
● financial data
● marketing data
● market data.
The use and limitations of financial information in:
● understanding business performance
● making business decisions.

Making operational decisions GCSE Business Studies is where focusing on why business need to make operational decisions. Watch the lessons and take the tests to help you get good grades.

2.3.1 Business operations

The purpose of business operations:
● to produce goods
● to provide services.
Production processes:
● different types: job, batch, flow
● the impact of different types of production process: keeping productivity up and costs down and allowing for competitive prices.
Impacts of technology on production:
● balancing cost, productivity, quality and flexibility.

2.3.2 Working with suppliers

Managing stock:
● interpretation of bar gate stock graphs
● the use of just in time (JIT) stock control.
The role of procurement:
● relationships with suppliers: quality, delivery (cost, speed, reliability), availability, cost, trust
● the impact of logistics and supply decisions on: costs, reputation, customer satisfaction.

2.3.3 Managing quality

The concept of quality and its importance in:
● the production of goods and the provision of services: quality control and quality assurance
● allowing a business to control costs and gain a competitive advantage.

2.3.4 The sales process

The sales process:
● product knowledge, speed and efficiency of service, customer
engagement, responses to customer feedback, post-sales service.
The importance to businesses of providing good customer
service.

Making marketing decisions GCSE Business Studies; watch the below lessons and take the tests we have prepared for you to get good grades.

2.2.1 Product

The design mix:
● function, aesthetics, cost.
The product life cycle:
● the phases of the product life cycle
● extension strategies.
The importance to a business of differentiating a product/service.

2.2.2 Price

Price:
● pricing strategies
● influences on pricing strategies: technology, competition, market segments, product life cycle.

2.2.3 Promotion

Promotion:
● appropriate promotion strategies for different market segments: advertising, sponsorship, product trials, special offers, branding
● the use of technology in promotion: targeted advertising online, viral advertising via social media, e-newsletters.

2.2.4 Place

Place:
● methods of distribution: retailers and e-tailers (e-commerce).

2.2.5 Using the marketing mix to make business decisions

How each element of the marketing mix can influence other
elements.
Using the marketing mix to build competitive advantage.
How an integrated marketing mix can influence competitive
advantage.

Growing the business GCSE Business Studies is the first topic in theme two of your course. Watch the lessons and take the online tests we have prepare to help you get good grades.

2.1.1 Business growth

Methods of business growth and their impact:
● internal (organic) growth: new products (innovation, research and development), new markets (through changing the marketing mix or taking advantage of technology and/or expanding overseas)
● external (inorganic) growth: merger, takeover. The types of business ownership for growing businesses:
● public limited company (plc)
Sources of finance for growing and established businesses:
● internal sources: retained profit, selling assets
● external sources: loan capital, share capital, including stock market flotation (public limited companies).

2.1.2 Changes in business aims and objectives

Why business aims and objectives change as businesses evolve:
● in response to: market conditions, technology, performance, legislation, internal reasons.
How business aims and objectives change as businesses evolve:
● focus on survival or growth
● entering or exiting markets
● growing or reducing the workforce
● increasing or decreasing product range.

2.1.3 Business and globalisation

The impact of globalisation on businesses:
● imports: competition from overseas, buying from overseas
● exports: selling to overseas markets
● changing business locations
● multinationals.
Barriers to international trade:
● tariffs
● trade blocs.
How businesses compete internationally:
● the use of the internet and e-commerce
● changing the marketing mix to compete internationally.

2.1.4 Ethics, the environment and business

The impact of ethical and environmental considerations on businesses:
● how ethical considerations influence business activity: possible trade-offs between ethics and profit
● how environmental considerations influence business activity: possible trade-offs between the environment, sustainability and profit
● the potential impact of pressure group activity on the marketing mix.

Understanding external influences on business is the final topic for theme one of GCSE Business studies for which we have put together many resources to help you understand this topic. Watch the lessons and take the online tests below to help you get good marks.

1.5.1 Business stakeholders

Who business stakeholders are and their different objectives:
● shareholders (owners), employees, customers, managers, suppliers, local community, pressure groups, the government.
Stakeholders and businesses:
● how stakeholders are affected by business activity
● how stakeholders impact business activity
● possible conflicts between stakeholder groups.

1.5.2 Technology and business

Different types of technology used by business:
● e-commerce
● social media
● digital communication
● payment systems.
How technology influences business activity in terms of:
● sales
● costs
● marketing mix.

1.5.3 Legislation and business

The purpose of legislation:
● principles of consumer law: quality and consumer rights
● principles of employment law: recruitment, pay, discrimination and health and safety.
The impact of legislation on businesses:
● cost
● consequences of meeting and not meeting these obligations.

1.5.4 The economy and business

The impact of the economic climate on businesses:
● unemployment, changing levels of consumer income, inflation, changes in interest rates, government taxation, changes in exchange rates.

1.5.5 External influences

The importance of external influences on business:
● possible responses by the business to changes in: technology, legislation, the economic climate.

Making the business effective GCSE Business Studies; please watch the lesson below and take the tests to get you ready for your upcoming exam.

1.4.1 The options for start-up and small businesses

The concept of limited liability:
● limited and unlimited liability
● the implications for the business owner(s) of limited and unlimited liability.
The types of business ownership for start-ups:
● sole trader, partnership, private limited company
● the advantages and disadvantages of each type of business ownership.
The option of starting up and running a franchise operation:
● the advantages and disadvantages of franchising.

1.4.2 Business location

Factors influencing business location:
● proximity to: market, labour, materials and competitors
● nature of the business activity
● the impact of the internet on location decisions: e-commerce and/or fixed premises.

1.4.3 The marketing mix

What the marketing mix is and the importance of each element:
● price, product, promotion, place.
How the elements of the marketing mix work together:
● balancing the marketing mix based on the competitive environment
● the impact of changing consumer needs on the marketing mix
● the impact of technology on the marketing mix: e-commerce, digital communication.

1.4.4 Business plans

The role and importance of a business plan:
● to identify: the business idea; business aims and objectives; target market (market research); forecast revenue, cost and profit; cash-flow forecast; sources of finance; location; marketing mix.
The purpose of planning business activity:
● the role and importance of a business plan in minimising risk and obtaining finance.

Putting a business idea into practice is a fun topic which we have covered in the lessons below. Watch each lesson and take the tests to get yourself ready for the exam.

1.3.1 Business aims and objectives

What business aims and business objectives are.
Business aims and objectives when starting up:
● financial aims and objectives: survival, profit, sales, market share, financial security
● non-financial aims and objectives: social objectives, personal satisfaction, challenge, independence and control.
Why aims and objectives differ between businesses.

1.3.2 Business revenues, costs and profits

The concept and calculation of:
● revenue
● fixed and variable costs
● total costs
● profit and loss
● interest
● break even level of output
● margin of safety.
Interpretation of break even diagrams:
● the impact of changes in revenue and costs
● break even level of output
● margin of safety
● profit and loss.

1.3.3 Cash and cash-flow

The importance of cash to a business:
● to pay suppliers, overheads and employees
● to prevent business failure (insolvency)
● the difference between cash and profit.
Calculation and interpretation of cash-flow forecasts:
● cash inflows
● cash outflows
● net cash flow
● opening and closing balances.

1.3.4 Sources of business finance

Sources of finance for a start-up or established small business:
● short-term sources: overdraft and trade credit
● long-term sources: personal savings, venture capital, share capital, loans, retained profit and crowd funding.