total costs
fixed costs + variable costs
profit
total revenue - total costs
total contribution - fixed costs
variable costs
variable costs per unit x number of units sold
total revenue
selling price per unit x number of units sold
market capitalisation of a business
number of issued shares x current share price
expected value of a decision with two possible outcomes - A - B
(pay off A x probability) + (pay off b x probability)
Probability A + probability B = 1.0
In a decision tree, net gain
expected value - initial cost of decision
what is market size volume
the quantity of goods and services produced in a particular market over a period of time
what is market size value
total sales revenue generated from selling all of the goods and services produced in a particular market over a period of time
what is sales volume
the quantity of goods and services produced by a particular business over a period of time
what is sales value
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Formulae and key data11
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3.1.1 The nature and purpose of business24
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3.1.2 Different business forms81
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3.1.3 Businesses operate within an external environment44
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3.2.1 Management, leadership and decision making34
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3.2.2 Management decision making39
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3.2.3 The role and importance of stakeholders35
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3.3.1 Setting marketing objectives14
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3.3.2 Markets and customers77
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3.3.3 Segmentation, targeting, positioning46
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3.3.4 Using the marketing mix91
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3.4.1 Setting operational objectives36
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3.4.2 Analysing Operational Performance12
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3.4.3 Increasing efficiency and productivity54
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3.4.4 Improving quality13
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3.4.5 Managing inventory and supply chains27
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3.5.1 Setting financial objectives58
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3.5.2 Analysing Financial Performance68
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3.5.3 Sources of Finance36
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3.5.4 Improving Cash Flow and Profits7
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3.6.1 Setting human resource objectives19
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3.6.2 Analysing HR Performance31
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3.6.3 Improving organisational design and HR flow116
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3.6.4 Improving motivation and engagement56
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3.6.5 Improving employee-employer relations24
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3.7.1 Mission, Strategy, Corporate & functional objectives69
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3.7.2 Internal: Financial ratio analysis1
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3.7.3 Internal: Overall performance44
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3.7.4 External: Political and legal change91
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3.7.5 External: Economic change118
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3.7.6 External: Social and Technological86
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3.7.7 External: The Competitive Environment36
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3.7.8 Analysing strategic options: investment appraisal24
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3.8.1 Strategic direction: Markets and Products66
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3.8.2 Strategic positioning: Choosing how to compete45
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3.9.1 Assessing a change in scale132
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3.9.2 Assessing Innovation38
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3.9.3 Assessing Globalisation and Internationalisation49
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3.9.4 Assessing greater use of digital technology37
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3.10.1 Managing Change72
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3.10.2 Managing organisational Culture46
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3.10.3 Managing Strategic Implementation33
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3.10.4 Problems with strategy and why strategies fail22
