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

The purpose of legislation: ● principles of consumer law: quality and consumer rights ● principles of employment law: recruitment, pay,...

Different types of technology used by business: ● e-commerce ● social media ● digital communication ● payment systems. How technology...

Who business stakeholders are and their different objectives: ● shareholders (owners), employees, customers, managers, suppliers, local...

The role and importance of a business plan: ● to identify: the business idea; business aims and objectives; target market (market...

What the marketing mix is and the importance of each element: ● price, product, promotion, place. Discover Delve Demonstrate Question...

Factors influencing business location: ● proximity to: market, labour, materials and competitors ● nature of the business activity ● the...

The option of starting up and running a franchise operation: ● the advantages and disadvantages of franchising. Discover Delve...

The types of business ownership for start-ups: ● sole trader, partnership, private limited company ● the advantages and disadvantages of...

The concept of limited liability: ● limited and unlimited liability ● the implications for the business owner(s) of limited and unlimited...

Sources of finance for a start-up or established small business: ● short-term sources: overdraft and trade credit ● long-term sources:...

Calculation and interpretation of cash-flow forecasts: ● cash inflows ● cash outflows ● net cash flow ● opening and closing balances....

The importance of cash to a business: ● to pay suppliers, overheads and employees ● to prevent business failure (insolvency) ● the...

Interpretation of break even diagrams: ● the impact of changes in revenue and costs ● break even level of output ● margin of safety ●...

The concept and calculation of: ● break even level of output ● margin of safety. Discover Delve Demonstrate Question This is a calculate...

The concept and calculation of: ● revenue ● fixed and variable costs ● total costs ● profit and loss Discover Delve Demonstrate Question...

How businesses use market segmentation to target customers: Business aims and objectives when starting up: ● financial aims and...

How businesses use market segmentation to target customers: Understanding the competitive environment: ● strengths and weaknesses of...

How businesses use market segmentation to target customers: ● market mapping to identify a gap in the market and the competition Discover...

How businesses use market segmentation to target customers: ● identifying market segments: location, demographics, lifestyle, income, age...

The use of data in market research: ● qualitative and quantitative data ● the role of social media in collecting market research data ●...

The purpose of market research: ● to identify and understand customer needs ● to identify gaps in the market ● to reduce risk ● to inform...

Identifying and understanding customer needs: ● what customer needs are: price, quality, choice, convenience ● the importance of...

The role of business enterprise and the purpose of business activity: ● to produce goods or services ● to meet customer needs ● to add...