As Revision Checklist Section 1 and 2

8/2/2019 As Revision Checklist Section 1 and 2

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AS Revision Checklist Section 1

Entrepreneurship What qualities does an entrepreneur have?

Why become one and what help is available

to one?

Generating Product Ideas Where do they come from? What is a nichemarket? What is a franchise? How can an

idea be protected?

Types of Industry Primary, Secondary and Tertiary

businesses, the transformation process

Market Research Types of market research (primary and

secondary), what is sampling? Methods for

sampling such as random and stratified

Understanding Markets Types of market, demand, market growth,

share and size (formulae), segmentation

Legal StructuresSole trader, partnerships, Ltd, PLC’s and

not for profit businesses

Raising Finance, Location and

Employing People

Sources of finance (loans, overdrafts,

business angels) what factors are important

when considering location, what factors may

an entrepreneur consider when employing

people?

Calculating costs, revenues and

profits

Fixed, Variable and Total costs

Price, Revenue and Profit (formulae)

Break Even Analysis Work out by formula, contribution formula,

changes in variables and lines on the chart.

Not likely to be asked to do break evenfrom scratch but may be asked to analyse!

Cash Flow Forecasting How are these calculated? (May be asked to

fill in blank spaces so must practice!) Why

do businesses use them?

Setting Budgets 3 types of budget (income, expenditure and

profit) Why set budgets? What are the

issues with setting budgets?

Assessing Business Start Up’s What is the risk? Use SWOT analysis

Strengths, Weaknesses, Opportunities and

Threats. Why do businesses fail?

Business Planning What are the stages in business planningand what sections does one include? Who

can help and where can the information be

taken from for this?



AS Revision Checklist Section 2

Using Budgets Look at the benefits and drawbacks of

budgets

. Calculate and interpret variance e.g

Favourable and Adverse

. using variances to help make decisions

Improving Cash Flow Improving cash flow

. what causes cash flow problems

. how to improve cash flow

Measuring and increasing Profit Measuring and increasing profits

. calculation and understanding of net

profit. calculation and understanding of

return on capital

. how to improve profits and

profitability

. understand difference between cash

and profit

Organisational Structures key elements of structures and

workforce roles, how structure affects

performance

Measuring the effectiveness of the

work force

In what ways can a business measure

performance of its employees?

Formulae for labour productivity,

absenteeism, days lost to health and

safety issues and labour turnover

Recruitment, selection and training Recruitment process, internal and

external recruitment, selection and its

importance and training methods

Motivation Maslow, Herzberg, Mayo and Taylor.

How can a business motivate its

employees? (financially, job

empowerment, job design and teams)



Operations Management – making

operational decisions

operational targets, capacity utilisation

calculating non-standard orders, and

matching production with demand

Quality Quality control and quality assurance,

TQM and ISO 9000.

Customer Service How do we meet customer

expectations? What is good customer

service? Why does it matter? How

does it benefit a business and how can

it be improved? – monitoring

Working With Suppliers What do we consider when choosing a

supplier? How can they help or hinder

success?

Technology 4 main types of technology and

advantages and disadvantages of using

technology

Effective marketing What is the purpose of marketing and

why do businesses do it? Niche and

Mass

Marketing Mix Product (product life cycle and Boston

Matrix), place, price, promotion

Marketing and competitiveness impact of market conditions and

competition, what determines

competitiveness, how to improve it

Documents

As Revision Checklist Section 1 and 2