Limited liability- When the owners posessions are not at risk even if their business has debt. Stakeholders- Those that have a stake or interest in the performance of a business. Penetration pricing- A low price on a product to gain market share.
Loss leaders- A low price…. Cost plus pricing- Adding a percentage of profit to a products selling price. Business plans help to reduce risk and reassure stakeholders [Stakeholders: Tall structure- Businesses that have lots of layers within the business structure. Key Terms Business- Something that provides a good or a service.
Setting up a business involves risks and reward. Entrepreneur- Someone that starts up a business. Centralised structure- A business that makes decisions by a few people in the centre of the business. Next Taking a calculated risk A new business starts out with few, if any, customers and is likely to face competition from existing firms.
Public limited companies- Businesses that can sell shares on the stock exchange. Flat structure- Businesses that have few layers within the business structure.
Franchising- Big named businesses allowing entrepeneurs to sell products under their name. Qualitative data- Data that is opinions and views.
Public sector businesses- Businesses owned by the government. They launch products they believe customers want and competitors cannot match. Drawing up a business plan forces owners to think about their aims, the competition they will face, their financial needs and their likely profits.
Sole trader- A business owned by one person. Profit is the reward for risk-taking.
A business plan Most small businesses have very limited resources. Market research- Researching the market. Analysis is when a business interprets information. Quantitative data- Data that is in numerical form. Organisational charts- Charts showing the structure of a business. Decentralised structure- A business that spreads decision making.
Research is costly and can seem like a poor use of time. All the people and groups who have an interest in a business. Businesses are more likely to succeed if their strategy is carefully planned There is an alternative.
Product life cycle- The life cycle a product goes through in terms of levels of demand.GCSE Business Revision Material. Home; Subjects; Business; Revision Material; Mrs Roberts Revision Plan; Students are advised to buy an AQA GCSE Business Revision Guide or AQA GCSE Business Textbook.
Alternatively your teachers will be uploading resources to Insight each week to help you revise the content. Tip 3: Give a full definition.
Business Studies (Key Definitions) / 5. Hide Show resource information. Business Studies; Finance; GCSE; Business plan- The plan for a business as to where they want to go and how they will get there. GCSE Business Studies AQA Unit 2 revision notes.
/ 5. Taking a calculated risk. A new business starts out with few, if any, customers and is likely to face competition from existing firms. To succeed it needs to plan its launch carefully and work out.
GCSE AQA Business studies Unit 1 - Revision. Uploaded by wizlan. Related Interests. Business Economics; Business; Finance (General) Any business plan is only as good as the information on which it is based. It is a good guide, but is only a plan Definition Adding Value. For a start-up there are usually two kinds of business plan - a simple one and a detailed one.
Some businesses need to produce both. GCSE Business Exam Technique Advice. Collections. Theories & Models for AQA A Level Business. Student Revision Workshops Contributor. tutor2u, Home based. BUSINESS STUDIES GCSE; Revision Guide Unit 2: BUSINESS AND PEOPLE (Exam = 1 hour) Unit 3: PRODUCTION, FINANCE AND THE EXTERNAL BUSINESS ENVIRONMENT (Exam = .Download