Business

Entrepreneurs and Enterprise

Factors of Production

Business Sectors

Private, Public and Third Sector

Local, National and Global Markets

Legal Structures

Limited vs Unlimited Liability

Franchising

Franchisors vs Franchisees

Co-operatives

Business Functions

Business Size Measures

SMEs vs Large Enterprises

External Growth

Joint Ventures

Strategic Alliances

Aims and Objectives Hierarchy

SMART Objectives

Strategic, Tactical and Operational Objectives

Communicating Objectives

Changing Objectives

Stakeholders

Stakeholder Objectives

Stakeholder Conflict

Stakeholder Influence

Mission Statements

Corporate Social Responsibility (CSR)

Strategy, Tactics and Implementation

Business Plans

Plan–Do–Review Cycle

Strategic Review

Risk and Reward

Quantifiable vs Unquantifiable Risk

Uncertainty (Internal vs External)

Opportunity Cost

Contingency Planning

Crisis Management

Porter’s Five Forces

Porter’s Generic Strategies

Competitive Advantage

Performance Measures

Financial Performance Measures

Non-financial Performance Measures

Forecasting (Purpose and Types)

Qualitative Forecasting Methods

Quantitative Forecasting Methods

Seasonal and Cyclical Variation

Correlation and Trend Extrapolation

Time Series (Moving Averages)

Decision Making (Factors and Timescales)

Quantitative vs Qualitative Decisions

Decision Trees

Expected Value and Probabilities

Ansoff’s Matrix

Conflicting Decision Tools

Evaluating Business Success

Markets and Competition

Market Size and Market Growth

Market Structures (Monopoly, Oligopoly, Monopolistic Competition)

Demand, Supply and Equilibrium

Demand and Supply Diagrams

Excess Demand and Excess Supply

Market Forces

Physical vs Digital Markets

Competition Strength and Market Entry/Exit

Barriers to Entry and Exit

Market Dominance

Mergers and Acquisitions

Organic Growth

Regulation of Dominance (UK)

Globalisation

Drivers of Globalisation

Multinationals and Global Strategies

Global Branding

International Trade

Barriers to Trade

Exchange Rates and Currency Conversions

Free Trade

Trading Blocs

European Union Impacts

Single European Currency (Euro)

Single European Market

Emerging Markets

Political Factors

Economic Indicators

Taxation (Direct and Indirect)

Government Expenditure

Subsidies

Monetary, Fiscal and Supply-side Policy

Interest Rates and Exchange Rates

GDP

Business Cycle Phases

Social Factors

Technological Factors

Digital Revolution

Ethical Factors (Law vs Ethics)

Ethical Trading and Working Practices

Legal Factors (Key Business Legislation Areas)

Environmental Factors

Environmental Policy

Sustainability

Causes of Change

Internal vs External Change Drivers

Types of Change

Barriers to Change

Impacts of Change

Change Management

Lewin’s Change Model

McKinsey 7-S Model

Kotter’s 8-Step Model

Leadership and Change

External Change Consultants

Accounting and Finance Objectives

Sources of Finance

Internal vs External Finance

Short-term vs Long-term Finance

Finance Choice Factors (Time, Legal Structure, Quantitative, Qualitative, External)

Accounting Concepts

True and Fair View

GAAP (Awareness)

Accounting Conventions

Costs, Revenue and Profit

Fixed vs Variable Costs

Direct vs Indirect Costs

Overheads

Cost Centres and Profit Centres

Costing Methods (Absorption vs Marginal)

Break-even Analysis

Contribution and Margin of Safety

Break-even Charts

Target Profit

Stepped Fixed Costs

Special Order Decisions

Investment Appraisal

Payback

ARR

NPV

Budgets

Variance Analysis (Favourable vs Adverse)

Cash Flow

Cash-flow Forecasts vs Statements

Cash-flow Problems and Solutions

Working Capital

Working Capital Cycle

Income Statements

Gross, Operating and Net Profit

Statements of Financial Position

Non-current Assets and Depreciation

Straight-line vs Reducing-balance Depreciation

Asset Valuation (Including Intangibles)

Working Capital and Net Assets

Shareholders’ Equity

Ratio Analysis

Liquidity Ratios

Solvency Ratios

Efficiency Ratios

Profitability Ratios

Shareholder Ratios

External Influences on Accounting and Finance

Financial Strategy

HR Objectives

Organisational Structures

Chain of Command and Span of Control

Centralisation vs Decentralisation

Delegation and Delayering

Structural Models (Functional, Product, Matrix, Divisional)

Tall vs Flat Structures

Organisational Culture

Communication (Formal vs Informal)

Communication Methods (Verbal/Non-verbal)

Communication Media (Written, Face-to-face, Electronic, Social, Mass)

Communication Models (Source–Message–Medium–Barriers–Receiver–Feedback)

Workforce Planning

Flexible Working Practices

Recruitment

Job Descriptions and Person Specifications

Internal vs External Recruitment

Selection Methods (CVs, Forms, Interviews, Testing, Work Trials, References)

Training

On-the-job vs Off-the-job

Induction

Apprenticeships

Training Needs Analysis (TNA)

Appraisal

Appraisal Methods (Peer, Self, 360°, Target Setting)

Workforce Performance Measures (Absenteeism, Labour Turnover, Productivity, PRP)

Redundancy and Dismissal

Fair vs Unfair Dismissal

Grievance Procedures

Employment Tribunals

Functions of Management

Constraints on Management

Leadership Theories

Trait Theory

Behavioural Theories

Contingency Theories

Adair’s Three Circles

Leadership Styles

Motivation Theories

Maslow and Herzberg

McClelland

Vroom Expectancy

Locke Goal-setting

Management by Objectives

Employer–Employee Relations

Employment Legislation in Practice

Employee Participation

Industrial Democracy

Works Councils

Trade Unions

Changing Union Membership and Influence

External Influences on HR

Human Resources Strategy

Marketing Objectives

Marketing Resources

SWOT Analysis

Market Research

Primary vs Secondary Research

Sampling Methods

Trial Marketing

Market Analysis (Quantitative vs Qualitative)

Market Share and Market Growth

Standard Deviation (Interpretation and Use)

Responding to Market Data

Consumer Buying Behaviour

Impulse vs Planned Purchases

Niche vs Mass Marketing

Marketing Models (AIDA, DAGMAR/Hierarchy of Effects, ATR)

Customer vs Product Orientation

Customer Service and Buyer Behaviour

Market Segmentation

B2B vs B2C Marketing

Product Life Cycle

Extension Strategies

Marketing Mix

Marketing Strategy (Local vs National vs Global)

Product Decisions

USP

Branding

Product Portfolio Tools (Boston Matrix, Value Analysis, Product Portfolio Analysis)

Pricing Strategies

Price Elasticity, Income Elasticity, Cross Elasticity

Distribution Strategies

Channels of Distribution

Online vs Physical Distribution

Patterns of Distribution

Promotion Strategies

Above-the-line vs Below-the-line

Digital and Social Media Promotion

Drip and Viral Marketing

Advertising Elasticity of Demand

Service Marketing (7Ps additions)

External Influences on Marketing

Marketing Strategy

Operations Objectives

Added Value

Innovation and R&D

Product vs Process Innovation

Methods of Production (Job, Batch, Flow, Cell)

Specialisation and Division of Labour

Service Operations and Customer Service

Project Management

Gantt Charts

Critical Path Analysis (CPA)

PERT

Qualitative Factors in Project Management

Productivity

Economies and Diseconomies of Scale

Capacity Utilisation

Capacity Management

Stock Control

Stock Control Charts

JIT and Kanban

EOQ

Quality Management

Quality Control vs Quality Assurance

TQM

Benchmarking

External Quality Standards (BS, EN, ISO)

Wastage Measures

Technology in Operations

Location Decisions

Logistics and Supply Chain

Warehousing and Distribution Centres

Outsourcing and Subcontracting

Offshoring and Re-shoring

External Influences on Operations

Operations Strategy