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Conor Horgan
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Decks in this class (71)
1.1a Business Objectives
Mission definition,
Mission statement definition,
What does smart objectives stand for
3
cards
1.1b Costs
Variable costs definition,
Do fixed costs change as output v...,
Total costs formula
5
cards
1.1c Revenue and Profit
Total revenue formula,
Profit formula,
Perfect competition definition
3
cards
1.2a Sole Traders
Sole trader definition,
Advantages of sole traders,
Disadvantages of sole traders
3
cards
1.2b Limited Companies
Do limited companies have limited...,
Who owns limited companies,
Who can ltd companies sell shares to
15
cards
1.2c Shareholding
How many shareholders can there b...,
What must happen in order to buy ...,
Trading of plc shares on stock ex...
16
cards
1.2d Public and Private Sector
What does the private sector cons...,
Why would a business be privatised,
What does the public sector consi...
7
cards
1.2e Non-Profit Organisations
Non profit organisations definition,
What do non profit organisations ...,
Are charities a separate legal st...
10
cards
1.3a Demand
Pestle analysis definition,
Pestle meaning,
Inelastic product examples
9
cards
2.1a Managers and Leaders
Who are more risk averse managers...,
Four main types of management,
Autocratic management features
9
cards
2.1b Leadership Models
What did tannenbaum and schmidt s...,
What are the two factors in tanne...,
Four styles of leadership on tann...
7
cards
2.2a Decision Making
Scientific decision making defini...,
Advantages of scientific decision...,
Disadvantages of scientific decis...
7
cards
2.2c Opportunity Cost
Opportunity cost definition,
Opportunity cost of less market r...
2
cards
2.2d Decision Trees
Decision tree definition,
What do squares represent in deci...,
What do circles represent in deci...
9
cards
2.3a Stakeholder Perspectives
Stakeholder definition,
Internal stakeholder examples,
External stakeholder examples
5
cards
2.3b Communication
Advantages of effective communica...
1
cards
3.1a Marketing Objectives
Marketing definition,
Marketing objectives definition,
Marketing objectives
10
cards
3.2a Primary Market Research
Market research definition,
Primary research definition,
Primary research is also known as
17
cards
3.2b Secondary Market Research
Secondary research definition,
Secondary research is also known as,
Secondary research examples
7
cards
3.2c Analysing Market Data
Value formula,
Volume formula,
Market growth definition
9
cards
3.2d Sampling
Sampling definition,
Advantages of sampling,
Disadvantages of sampling
14
cards
3.2e Extrapolation
Three statistical techniques used...,
What do confidence intervals assess,
What is used to show the accuracy...
12
cards
3.2f Correlation
What does correlation look at,
What is correlation measured with,
Three kinds of correlation
4
cards
3.2g Price Elasticity of Demand
What does ped measure,
Ped formula,
What is the ped if demand is perf...
10
cards
3.2h Price Elasticity of Demand (2)
Should a business aim to have ela...,
What effects ped of a product,
How to ensure products are price ...
3
cards
3.2i Income Elasticity of Demand
What does yed measure,
Yed formula,
What yed does a normal necessity ...
8
cards
3.2j Using Technology to Collect Marketing Data
Technology businesses can use to ...
1
cards
3.2k Collecting Data to Make Marketing Decisions
Marketing definition,
Advantages of marketing,
Disadvantages of marketing
3
cards
3.3a Market Mapping
What does market mapping do,
Advantages of market mapping,
Disadvantages of market mapping
3
cards
3.3b STP: Market Segmentation
What does stp stand for,
Segmentation involves the business,
Market segment definition
4
cards
3.3c STP: Market Segmentation (2)
Market segmentation is used for,
Advantages of market segmentation,
Disadvantages of market segmentation
3
cards
3.3d STP: Target and Positioning
What does targeting involve,
Niche marketing definition,
Advantages of niche marketing
14
cards
3.4a The Marketing Mix
The seven ps,
Main influences of the marketing mix,
Three elements of a product
17
cards
3.4b New Product Development
New product development definition,
Stages of new product development,
Advantages of focusing on core pr...
5
cards
3.4c Product - Boston Matrix
Product portfolio definition,
Boston matrix definition,
Four categories in boston matrix
12
cards
3.4d Product Life Cycle
The product life cycle is short if,
What can product life cycle be us...,
Stages of product life cycle
11
cards
3.4e Pricing Decisions
How does penetration pricing work,
When would penetration pricing work,
How does price skimming work
13
cards
3.4f Promotional Mix
Promotion definition,
Above the line promotion features,
Below the line promotion features
20
cards
3.4g Place
Factors that dictate where a reta...,
Where are the most appealing prod...,
Where are similar products placed...
14
cards
3.4i Influences on an Integrated Marketing Mix
Functions of a business,
Influences of the market mix
2
cards
4.1a Understanding Operational Objectives
Operations management definition,
Operational objectives definition,
Unit cost definition
21
cards
4.2a Unit Costs
What is unit cost also known as,
Lower unit costs can be achieved by
2
cards
4.2b Capacity
Capacity definition,
Capacity utilisation definition,
Capacity shortage definition
11
cards
4.3a Labour Vs Capital
Four factors of production,
Labour intensive definition,
Capital intensive definition
7
cards
4.3b Labour Productivity
Labour productivity definition,
Labour productivity formula,
Ways to improve labour productivity
17
cards
4.3c Technology
Technology definition,
Uses of robots in manufacturing,
Advantages of robotics
11
cards
4.4a Quality / 4.4b Managing Quality
Advantages of better quality,
Quality objectives,
What is quality management concer...
21
cards
4.4c Suppliers
Supplier definition,
Suppliers are important because,
Payment terms definition
9
cards
4.4d Improving flexibility
Ways flexibility can be improved,
Ways to manage supply,
Produce to order definition
29
cards
4.4e Inventory Control
Inventory control definition,
When are low inventory levels useful,
Advantages of low inventory levels
13
cards
5.1a Financial Objectives
Financial objectives definition,
Why do businesses set financial o...,
Financial objectives examples
17
cards
5.2a Contribution
Profit formulae,
Contribution per unit formula,
Total contribution formulae
3
cards
5.2b Break Even
Break even point definition,
Three methods of calculating brea...,
Break even point formula
9
cards
5.2d Cashflow
Cash flow forecasting definition,
Cash flow cycle definition,
Closing balance formula
10
cards
5.2e Working Capital
Working capital definition,
What does working capital cycle w...,
Length of cycle formula
8
cards
5.2f Setting Budgets
Why do businesses use budgets,
Three types of budget,
Key start up costs
10
cards
5.2g Variance Analysis
Variance analysis definition,
Favourable variable analysis defi...,
Adverse variable analysis definition
8
cards
5.3a Sources of Finance
What does internal sources include,
What does external sources include,
Short term finance definition
33
cards
5.4a Improving Cash Flow
Cash flow issues can be improved by,
Good cash flow forecast features
2
cards
5.4b Analysing Profitability
What do income statements identify,
Gross profit margin formula,
Gross profit formula
7
cards
5.4c Methods of Improving Profit
Ways to improve profit,
Net profit formula,
Why increasing quantity sold may ...
6
cards
5.5a Making Financial Decisions
Management accounting definiton,
Financial accounting definition
2
cards
5.5b Internal/External Influences on Financial Objectives
Main reasons markets change rapidly,
Internal factors on a business
2
cards
6.1a Understanding Human Resource Objectives
Human resources management defini...,
Human resources definition,
Reasons human resource management...
14
cards
6.2a Analysing HR performance
Labour turnover definition,
Labour turnover formula,
Advantages of staff leaving
13
cards
6.3a Organisational design
Organisational design definition,
What do organisational charts show,
Span of control definition
29
cards
6.3b HR Flow
A hr plan does what,
Recruitment definition,
Job description definition
24
cards
6.4a Motivational Theories
Motivation definition,
Advantages of a well motivated wo...,
Frederick taylor beliefs
16
cards
6.4b Financial vs Non-Financial Rewards
Ways to improve engagement and mo...,
Financial incentives examples,
Non financial incentives
32
cards
6.4c Job Design
Organisational influences on job ...,
Employee related influences on jo...,
What is the hackman and oldham jo...
8
cards
6.5a Employer-Employee relations
Businesses communicate with emplo...,
Barriers to communication,
Trade union definition
24
cards
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Business Studies AS
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