1
Q
Competitive Environment
A
The degree to which a business is affected by rivals that operate in the same market.
2
Q
Impact of competition on businesses
A
+ Increased innovation - focusing on USP’s.
+ Improved customer service.
+ Expand product range.
- Fall in prices.
- Increased costs of promotion.
3
Q
Market size
A
The number of buyers and sellers in a market.
4
Q
Large markets
A
+ Larger customer base.
- Higher costs of promotion.
- More competition.
5
Q
Small markets
A
+ Less competition.
- Limited demand.
- Few economies of scale.
- Threat of new entrants.
A Level Business
flashcards
Decks in class (79)
# Cards
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Paper 1348
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Paper 2362
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Paper 1 Simple17
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3.1.2 Theories of Corporate Strategy21
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3.2.1 Business Growth18
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2.5.1 Economic Influences26
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3.4.4 Business Ethics14
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3.2.3 Organic Growth4
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3.2.2 Inorganic growth21
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3.2.4 Reasons for staying small6
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3.4.3 Shareholders vs Stakeholders22
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2.5.3 Competitive Environment5
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2.5.2 Legislation10
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3.1.4 Impact of External Influences15
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3.3.2 Investment Appraisal9
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3.3.3 Decision Trees3
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3.3.4 Critical Path Analysis5
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3.4.1 Corporate Influences8
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3.4.2 Corporate Culture8
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3.6.1 Causes and Effects of Change7
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3.6.2 Key Factors In Change5
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3.6.3 Scenario Planning7
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1.4.4 Motivation in theory and practice25
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1.4.1 Approaches To Staffing23
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1.4.5 Leadership10
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1.5.6 Entrepreneur to Leader8
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1.2.1 Demand9
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1.2.2 Supply10
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1.2.3 The Market1
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1.2.4 PED9
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1.2.4 YED7
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2.1.4 Business Planning10
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2.1.3 Liability4
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2.1.1/2 Sources Of Finance24
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2.2.2 Sales, Revenue And Profit11
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2.2.3 Breakeven And Contribution12
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2.2.1 Sales Forecasts19
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2.2.4 Budgeting13
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2.3.1 Profit14
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2.3.2 Liquidity Ratios23
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3.5.2 Ratio Analysis10
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3.5.1 Interpretation of Financial Accounts7
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3.5.3 Human Resources20
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2.4.1 Production, productivity, and efficiency25
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2.4.2 Capacity Utilisation8
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2.4.3 Stock Control17
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2.4.4 Quality Management16
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3.1.1 Corporate Objectives9
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1.5.1 & 1.5.2 Entrepreneurs27
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1.5.3 Business Objectives9
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1.5.4 Forms of Business14
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1.5.5 Business Choices5
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1.1.1 The Market26
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1.1.2 Market Research19
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1.1.3 Market Positioning15
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1.3.1 Product and Service Design9
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1.3.2 Branding & Promotion27
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1.3.3 Pricing Strategies17
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1.3.4 Distribution14
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1.3.5 Marketing strategy14
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4.3.2 Global Niche6
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4.3.1 Global Marketing11
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4.3.3 Cultural & Social Factors5
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1.4.2 Recruitment, Selection and Training16
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1.4.3 Organisational Design14
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4.1.4 Protectionism6
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4.1.5 Trading Blocs9
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4.2.5 Global competitiveness8
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4.2.3 Assessment Of A Country As A Production Location9
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4.4.1 Impact of MNC's10
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4.4.2 Ethics4
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4.2.4 Reasons for Joint Ventures and Mergers5
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4.4.3 Controlling MNC's6
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4.1.1 Growing economies8
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4.1.2 Factors Contributing to Increased Globalisation7
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4.1.2 International Trade and Business Risk8
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4.2.1 Conditions That Prompt Trade2
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4.2.2 Assessment Of A Country As A Market4
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2.3.3 Business Failure2
