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BUSINESS
STUDIES REVISION ACTIVITIES
Understanding the Scenario!
What type of
business is it?Who are the owners? What experience do they have?
What are the
issues/questions the
owners have?
Why was the business set up?
What is its purpose?
Are there any other
important clues?
WHAT IS THE DIFFERENCE BETWEEN…?
Primary research Secondary research
Qualitative data Quantitative data
Gross profit Net profit
Cash flow Profit
Sales Revenue Turnover
Fixed cost Variable cost
Current asset Fixed asset
Asset Liability
Batch production Flow production
WHAT IS THE DIFFERENCE BETWEEN…?
Franchisor Franchisee
Bank loan Mortgage
Creditors Debtors
Hire Purchase Leasing
Overdraft Bank loan
Share capital Debentures
Profit and Loss Account
Balance Sheet
Bank loan Selling shares
LINKS - MARKETINGHow does … Influence ….
Price Promotion
Place Price
Product Price
Product Promotion
Place Promotion
Product Place
ETHICS AND SUSTAINABILITYDefine
Explain
Examples
Benefits to a business
CALCULATIONS & FORMULAEProfit
Sales Revenue/Turnover
Total Costs
Net Cash Flow
ANALYSISSituation (Cause) Results (What is the Effect on a business?)
Business increases prices
Negative cash flow
Decrease in profit
Staff leaving
Selling online (e-commerce)
New competitor
Costs increase
Poor customer service
Quality issues
De-motivated staff
PRODUCTIONBatch Job Flow Lean
OBJECTIVES
SMALL BUSINESS LARGE BUSINESS
STAKEHOLDERS INTERESTS• OWNERS
• EMPLOYEES
• MANAGERS
STAKEHOLDERS INTERESTS
• SUPPLIERS
• COMMUNITY
• CUSTOMERS
Explain Reason:Why could this option be a good/poor one?
Chain of argument:Impact on this business given it’s circumstances
PositiveOn the one hand it would be good for xxx because….(theory)
This could result in….
Negative However…
Conclusion (worth 5 marks!)
Overall I think…
I have chosen this option (instead of xxxxxx) because…• It is most realistic• Cheapest to implement• Fits in with the organisations objectives• Avoids having to….• It could lead to…
An alternative could be….
PLANNING YOUR ANSWER (9 MARKS)
Explain Reason:Why could this option be a good/poor one?
Chain of argument:Impact on this business given it’s circumstances
Positive
Negative
Conclusion (worth 5 marks!)
PLANNING YOUR ANSWER (9 MARKS)
Explain Reason:Why could this option be a good/poor one?
Chain of argument:Impact on this business given it’s circumstances
Positive
Negative
Conclusion (worth 5 marks!)
PLANNING YOUR ANSWER (9 MARKS)
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