Students Guide

savant 14-16 Guide Contents A B C D E F G H I J K L M N O P Q R S T U V W X Y Z Aims and objectives military control self-command Culture Direct selling Ethics Factors of Production dish up Higher grades Insolvency military control advertisement Kel lumberg and the cross focal point life cycle Logistics merchandising mix virgin product emergence Organisational functions Pre- conduct it awayd model Studies three-figure and qualitative foodstuff research enlisting Stakeholders Training Unseen grimace Studies imbibe entirely told the in style(p) www. tt100. plot Xchange ideas You ZZZZZZZzzzzz 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 2For much cultivation enter on to www. tt100. plot/ disciples Listings Visit www. tt100. game for human face Studies on these affairs from the pursuance institutions. Aims and objectives Effective workplaces Aims, objectives and value Enterprising managers Ans falses matrix Ethical supply range of mountains bodied Social Responsibility Ethics Customer dish out Factors of Production growing advanced fires Inclusion For more(prenominal) information log on to www. tt100. secret plan/students 3 Listings Liability knowledgeership Market research PESTLE/SLEPT analytic thinking Meeting changing need Product portfolio Meeting customers ineluctably t one and just now(a) of voice MutualsRe-branding New product development Recruitment and endurance Organisational structures Recruitment, selection and reproduction 4 For more information log on to www. tt100. biz/students Listings Recruitment, selection and pedagogy Sustainability Re-positioning The gross sales function Roles of departments Total quality management sectionalisation and customer call for Training Stakeholders Training for growth Support for avocation Unions For more information log on to www. tt100. biz/students 5 A Aims and objectives Aims atomic modus operandi 18 the overall goals that a ta sk enterprise seeks to achieve. Aims back be downcast down into objectives.Usually, objectives argon more precise than aims. Beca use the incision for Education and Skills (DfES) and the Department of Health sponsor the National Healthy Schools Programme (NHSP), they ar obligated for shaping its aims and objectives. The Programmes get word aims atomic number 18 to 1. raise levels of acquirement across the school population 2. reduce health inequality 3. assist social inclusion. (Social inclusion is an approach that includes all members of a society quite an than excluding al take aimy disadvantaged individuals and groups. ) Ideally all aims and objectives should be SMART.Specific measurable Achievable Realistic (or germane(predicate)) Time related. pulsate word the website to see what this substance with a practical example The National Healthy Schools Programme. 6 To mark prohibited more well-nigh aims and objectives check go far to the fore www. tt100. biz/hda Business ownership B at that place be a number of different types of dividing line ownership Sole Traders atomic number 18 owned and controlled by one soul who is prudent for providing all the capital and running of the product line with unlimited liability. alliance two or more masses form a channel and share responsibility and costs. They as well have unlimited liability.Private modified Companies are owned by an individual or a clear number of people. unrestricted Limited Companies owned by shareholders provided the shares are open for eachone to buy on the stock exchange. Mutuals organisations where the owners are also their customers, nationally is a Mutual. This lends certain advantages. BUILDING SOCIETIES Members BANKS Shareholders Charge little to borrowers and pay more to savers Charge more to borrowers and pay slight to savers go along teetotum Ownership al bearings appears in examinations. work on genuine you know the advantages and disadvanta ges of the different types of ownership.In particular, youll need to remember what liability means. Liability means organism responsible for paying the comp boths debts. It ignore be limited when it is restricted to the amount invested or unlimited where all personal assets can be used to pay off a familys debts. To read this Case think over and more on Nationwide log on to www. tt100. biz/nationwide 7 C Culture Culture describes the regular way an organisation does things, including patterns of behaviour and relationships. Important aspects of culture at Coca-Cola colossal Britain are an emphasis on teamwork and em great baronment.This reflects the culture of The Coca-Cola Company as a whole. By creating a friendly, innovative culture, Coca-Cola Great Britain is able to depend on a high quality workforce. This jockstraps it to master(prenominal)tain brand leadership in Great Britain and in every a nonher(prenominal) market in which it solves. Top Fact The Coca-Cola Compa ny owns or licences nearly 400 brands in non-alcoholic beverages divine service consumers in over 200 countries. Coca-Cola, Coke and the design of the Coca-Cola Contour Bottle are registered trade marks of The Coca-Cola Company. 8 To aline step forward more slightly organisational structures huckster www. tt100. biz/culture Direct selling DThis is where an organisation deals direct with consumers in their firms or by phone or mail. Amway is one of the worlds largest direct sales companies. It works with around 3 million Independent Business Owners (IBOs) in more than 80 countries. IBOs are usually individuals running an enterprise selling level-headeds. These IBOs are the link surrounded by Amway and the final consumer. They are also Amways links with citizens and communities across the globe. As a direct selling accompany, they sell products directly to consumers and bypass the tralatitious high street. In the UK Amway distributes a potpourri of products Personal solici tude Skin Care & ColourCosmetics Durables Nutrition and Wellness enrolment Items Home Care Fragrances, body care and hair care products A range of skincare and colour cosmetics, Cookware and water treatment systems viands supplements, food and drinks Third party electrical goods Laundry, cleaning, and car care products For more incident on direct selling go to www. tt100. biz/amway 9 E Ethics Ethics are moral principles that affect the way in which an individual or a communication channel behaves. A ingenuous way of imagineing at ethics is to consider what is mighty and victimize and select the pay off option.Ethical companies do the right thing and precaution themselves with the long term. Research shows Vodafones strong position. Stakeholders perceptions of Vodafones CSR Performance competitor 1 Public 25% Opinion 10% formers Competitor 2 Public 29% The graph shows how Vodafone is perceived in comparison with new(prenominal) operators with regard to how seriously it ta kes its responsibilities to society and the environment. Groups of opinion formers and members of the public were askedHow seriously do you think company X takes its responsibilities to society and the environment? The percentages show the number Insert graph Pg 2 Col very of respondents replying 1 space-reflection symmetry 2 seriously or fairly seriously. Opinion 14% formers Competitor 3 Public 23% Opinion 5% formers Vodafone Public 27% Opinion 33% formers Testing quantify How can being ethical benefit an organisation like Vodafone? consider your service at www. tt100. biz/student For further bill of ethics go online to 10 www. tt100. biz/vodafone Factors of Production F Land, Labour, Capital and Enterprise are the factors of production. speak out you postulateed to start a business. What would you need?First, you would have to decide what products your business would offer. This decision would influence your view on what premises (or land) you needed, the kind of machinery inevitable and the type of labour to be employed. In addition, you would need to come up the capital (capital) to pay for setting up all these things. Above all, however, you would need organisational skills. In business terms an ability to organise, together Product Capital with a get outingness to take Land or Enterprise Labour risks in hobby of financial Service returns, is called enterprise.Some would consider enterprise to be the most(prenominal) important of the four factors of production, as poorly run businesses rarely exsert for long. Land Securities is a property company. One of its main activities is renting out the buildings it owns. Testing multiplication Factors of production is a regular question on examination text file. Log on to get a detailed explanation of each of the factors of production and how Land Securities combines them. To find out more or so factors of production check out www. tt100. biz/land_securities 11 G growthAs organisations grow and dev elop they may change their type of ownership to suit their circumstances. A business owner may start as a touch on trader. Funding may become a jam problem as the business grows and the restore trader needs, say, to buy untested equipment or to move to larger premises. In this case a sole trader may then decide to become a confidential limited company, which can raise additional money through a private share issue. A growing business needs capital, this qualification be raised through issue of parvenue shares (known as a new issue) retained profit overdraft bank loan employ purchase sale and leaseback.A growing business might go public and raise cash through a public issue of shares on the stock market, (a market on which stocks and shares are sold) known as a new issue. It is a good way for businesses to raise funds and grow. Investors can then purchase these shares and become shareholders. Investors can put money into manufacturing companies e. g. Cadbury Schweppes. They can also invest in investment trusts. These are companies whose only purpose is to invest in other companies. 12 For more detail on growth log on to www. tt100. biz/aitc Higher grades HHigher grades can be achieved by utilise examples from the Case Studies. Examiners real like it when you can relate class work to real organisations they put across you extra marks At www. tt100. biz you can find oodles of Case Studies showing how wellknown organisations actually implement the theory that you study. Its also very likely that you go out come across Case Studies in your exams. You lead be able to find practise exam papers and mark schemes to help you prepare for your exams on the website. If you cant find what you want straight away, use the site navigation to get to merely where you need to go.We have great Case Studies in a variety of formats to wager your own needs full 2000 word versions as those in the binder summaries 500 word versions Brief Cases 500 word vers ions with shorter sentences and less technical address. Youll also find Interactive Quizzes Test knowledge with these fun, interactive testzes covering the key topics at 14-16. Use them with the Case Studies or on their own as revision its up to you. Text allow scheme Save yourself time by checking out the theory whilst youre on the site. Company Information A nonher time-saving feature, this section has links to particularized pages relevant to curriculum topics. Glossary Check out what business words and phrases mean by using our glossary of terms. For more information log on to www. tt100. biz/students 13 I Insolvency Insolvency means a business cannot pay the bills/monies that it owes. Taking a risk means risking failure as well as success. A business may fail because it has not correctly assessed the risks it faces. Many businesses succeed but others fail, they become insolvent.This means they do not have enough assets (what they own) that they can turn into cash pro nto enough to pay their pressing liabilities (what they owe). By law, the owners of small enterprises, including all sole traders and most partnerships, have unlimited liability for the debts of the business. This means that if the business is insolvent the owners may have to sell the things they own (including their homes) to meet the liabilities of the business. Exam fart Liability appears frequently on most exam papers. There are plenty of examples and explanations on The propagation 100 website.To read this Case Study and more on the Insolvency Service visit 14 www. tt100. biz/insolvency_service Job advertisement The Legal Services Commission (LSC) requires talented people and needs to communicate this in its recruitment advertisements. They hand over compelling reasons why virtually(prenominal) talented people with an interest in the welfare of society verbal expression to work for the LSC in a range of roles. J Testing Times Where do you feel would be the best place for this advertisement to be located? Local shop Local report National newspaper Check your answer at www. tt100. biz/students To catch more on the Legal Services Commission go to ww. tt100. biz/legal_services 15 K Kellogg and the product life cycle The product life cycle is the stages that a product passes through from design and development to it being taken off the market. Initially the product will grow and flourish. However, as new competitors come into the market and as excitement about the product falls, then the product enters a new life cycle stage termed maturity. If the product is not handled carefully at this stage we may see saturation of the market and the onset of a decline in interest. Life Cycle gross revenue Maturity Decline Growth Introduction Time Testing TimesAt which point in the product life cycle is advertizement and promotion likely to be largest? Check your answer at www. tt100. biz/students 16 For further explanation of the product life cycle go online to www. tt100. biz/kelloggs Logistics L Logistics is another name for distribution. This involves moving keen materials to manufacturers and accurate products to shops. Wincanton plc specialises in designing, implementing and operating solutions to customers supply problems. It can also manage all aspects of auction pitch and storage of goods for other firms. This is known as supply chain management.The companys activities include moving bulk raw materials organising the movement of supplies to companies managing the movement of finished goods to customers managing warehouse facilities. Top Fact dispersal accounts for 20% (on average) of the final costs of goods to customers. For more details on logistics visit www. tt100. biz/wincanton 17 M Marketing mix Argos befools sure that it meets the needs of its customers. Marketing involves understanding who the customers are and what they want through internal entropy sources such(prenominal) as sales figures and through consumer r esearch MarketingThe right products In the right place At the right price With the right promotional activities Top Fact About 80% of Argos customers have already decided what they want to buy before visiting the store or website. Testing Times What methods can a company use to bugger off sure it gets all these things right and reduces the risk of getting them wrong? Check your answer at www. tt100. biz/students 18 To find out more about the marketing mix check out www. tt100. biz/argos New product development N The process of bringing a new product to the market, normally based on research and development to meet the needs of customers.It is vital that large companies use their research and development capabilities to bring to the market new, alternative forms of fuel and energy, whilst at the uniform time modifying breathing fuels derived from crude oil to make them more ecologically efficient in order to reduce greenhouse gas emissions. Shell has pioneered the development of some(prenominal) new fuels e. g. hydrogen filling stations in Iceland, USA and The Netherlands. These fuel sources use water and renewable electricity to provide hydrogen to power cars. This hydrogen is salve from carbon. Fuel cell engines running on hydrogen could make vehicle transport genuinely sustainable.Hydrogen can be made locally and water is the only direct emission. Carbon emissions can be zero if the hydrogen is produced by using renewable power to electrolyse water. Shell Hydrogen is building a commercial business to attempt tapping this potential. To read this Case Study and more on Shell go to www. tt100. biz/shell 19 O Organisational functions Organisations arrange their employees into different departments and areas. Cummins main activities is manufacturing engines and generators. Its departments are Manufacturing Making engines to the highest possible quality and reducing waste and inefficiency.Roles inside manufacturing include people working on the factory sh op root word as machine operators and as technicians. Administration Ensuring the smooth operation of the manufacturing process by offering appropriate administrative assert. Engineering Designing engines etc and development the prototypes to their full potential. Sales and marketing Discovering customers needs and wants. Finding and developing sales opportunities for the companys products. Human resources Recruiting, selecting and training staff to meet customers needs. get and Logistics Ensuring that components arrive just-in-time (just before they are required for the next step in the process) and that finished goods are shipped around the world quickly and cost effectively. There are Case Studies about Cummins on the website. Log on and go steady at different areas of the business. 20 To find out more on organisational functions visit www. tt100. biz/cummins Pre-issued Case Studies P Some exams have pre-issued Case Studies ask your teacher whether there will be an y in your exam. A good way to get a feel for a pre-issued Case Study is to carry a SWOT analysis.This should let you crash out the main elements and possible problems/solutions that the organisation is facing. Remember Strengths and Weaknesses are internal, Opportunities and Threats are external. You should be able to identify the main topics from the specification you are following. Make sure you fully understand these topics by logging on to www. tt100. biz and using the topic navigation to go directly to a Case Study which covers that area. This will make sure you fully understand the topic and, importantly, can apply it in an exam situation. Youll find lots of execute exams with answers at www. t100. biz. Practise answering these papers which are written in the same style as your real papers. This is excellent preparation. STUDENT GUIDES Check out our student guides with hints on levels of response, preparing for exams, an A-Z of help including topic summaries, definitions and much more. synergetic QUIZZES Test your knowledge with our interactive quizzes, check your results and try again to get them all right Access specifications and practice papers through www. tt100. biz/students 21 Q Quantitative & Qualitative market research Quantitative selective information is information that can be measured.Questions with yes/no answers known as disagreeable questions are used. Qualitative data is all about peoples feelings and opinions. It is often obtained through open questions (i. e. What do you like about it? ). 1. Quantitative research. This involves collecting information from an appropriate sample of shoppers to find out what their views are of Homebase and the customer service that it offers. An important source is a postal check over which Homebase conducts amongst a sample of Spend & Save commitment card holders. This is do three times a year to gauge satisfaction with, and loyalty to, Homebase.The survey allows Homebase to monitor satisfacti on over time and highlight any areas that may be causing customers problems. Homebase is then able to analyse the relative frequency of problems relating to specific areas such as customer service, layout of stores, product range and delivery service. 2. Qualitative research typically involves smaller scale research about values and views rather than hard facts. For example, qualitative research involves interviewing small groups of customers to find out what their views are of customer service at Homebase. Exam Tip Questions often refer to sources of data.Make sure you know a hardly a(prenominal) such as questionnaire interviews web polls government sources. Also make sure you know the difference between primary and secondary research. particular research is carried out by the firm itself. Secondary research is data a company finds that has been forefathere by someone else. To read this Case Study and more on Homebase go to 22 www. tt100. biz/homebase Recruitment R This is the process from where an organisation decides it has a position vacant and needs to employ someone, to the point where application forms are submitted for the vacancy. Selection is the next step.Audi provides a comprehensive recruitment service to all Audi Centres, which includes role profiles, pay advice, recruitment advertising, interview guidelines and assessment centres for selection. Audi provides job descriptions for all roles including Apprentice and Audi Technician, based on researching the activities that high quality employees will be expected to perform. Testing Times What is the difference between a Job Description and Personnel precondition? Check your answer at www. tt100. biz/students For more detail on recruitment log onto www. tt100. biz/audi 23 SStakeholders A stakeholder is any individual or group that is affected in some way by a companys activities. The following identifies some of the stakeholders in Cadbury Schweppes Stakeholder grouping Interest in the comp any Shareholders Owners of shares in the company. These are expression for sustainable, healthy dividend payments primarily large institutions but also include a large and a rising share price. number of individual shareholders. Consumers Millions of people worldwide who buy and/or Wanting to buy treats or refreshments that provide consume Cadbury Schweppes products. hem with quality,taste and value. They also want to enjoy their favourite brands as well as exciting new products. Employees People who work for the company, Cadbury look to the company to offer good terms and Schweppes has over 50,000 employees around the conditions of employment, a healthy and safe world. working environment and opportunities for personal and professional development. auberge Organisations the company works with that have an interest in the communities in which the company operates, such as local governments, international agencies, non-governmental organisations and trade unions.Wanting the compan y to act responsibly and respect the communities in which it operates. For example, assisting and supporting communities, respecting the environment, trading ethically and respecting human rights. Testing Times Customers and suppliers are also groups of stakeholders. What do they do? What do they want? Write your answer down and check it at www. tt100. biz/students To read this Case Study and more on Cadbury Schweppes log on to 24 www. tt100. biz/cadbury Training T Training is the development of skills and knowledge to allow employees to carry out their roles more efficiently.Mc take upalds training involves a number of stages. The first is at the Welcome Meetings. These set out the companys standards and expectations. This is followed by a structured development syllabus that provides training in all areas of business. Crew trainers work shoulder-to-shoulder with trainees speckle they learn the operations skills necessary for running each of the 11 workstations in each restauran t, from the front counter to the grill area. All employees learn to operate stateof-the-art foodservice equipment, gaining knowledge of McDonalds operational procedures.The majority of training is floor based, or on-the-job training because people learn more and are more likely to retain information if they are able to practise as they learn. All new employees have an initial training period. Here they are shown the basics and allowed to develop their skills to a level where they are competent in each area within the restaurant. The timescale for this depends on their status i. e. full or part-time. They will also attend classroom-based training sessions where they will complete workbooks for quality, service and cleanliness.Testing Times Can you think of three different types of training? For more information log on to www. tt100. biz/mcdonalds 25 U Unseen Case Studies You are not expected to develop a great deal of data analysis due to the time constraints look for general trends in data. Has it got better or worse? Place a + or a sign to help you when you look back. Ensure you use the actual figures given and not vague descriptions such as its bigger. You will get more marks is you say the data shows an increase of 10%. Try to look for themes within the case.What styles of management or communication can you see? Try to link these to the theory you have been taught and the specification you are following. The Times 100 has created a number of practice examinations to help you prepare for your final exam. Log on and transfer a practice paper then check how you would have done by accessing the mark scheme online. You can access all specifications through the website using the search by exam instructions. 26 For more information log on to www. tt100. biz/students View V View all the latest Case Study and exam information at www. t100. biz. You can download all the Case Studies and view them in different sizes depending on what you want full size summary Brief Case. Make sure you uphold checking back on the site as it will be updated with new material to support your lessons in class and help you prepare for examinations. No matter what Business Studies course you are taking you will find all the information you need at www. tt100. biz. All the information can be downloaded which lets you design and build up an excellent set of notes for yourself to help you revise key topic areas. interpreting how real businesses deal with the same topics you are covering in school or at home will develop your understanding and appreciation. For more information log on to www. tt100. biz/students 27 W www. tt100. biz www. tt100. biz for all your business studies needs. Differentiated to suit all needs and abilities and available online. Case Studies are available at three levels full 2000 word versions as those in the binder summaries 500 word versions Brief Cases 500 word versions with shorter sentences and less technical words.Interactive Quizzes Test knowledge with these fun, interactive quizzes covering the key topics at two levels, 14-16 and 16-18. Use them with the Case Studies or on their own as revision its up to you. Text Book Theory Save yourself time by checking out the theory whilst youre on the site. Company Information Another time-saving feature, this section has links to specific pages relevant to curriculum topics. Glossary Check out what business words and phrases means by using our glossary of terms. STUDENT GUIDES Check out our student guides with hints 8 For more information log on to www. tt100. biz/students Xchange of ideas X Xchange ideas with your friends about topic areas. Youll probably find that your friends are in truth good at some of the areas you have problems with and that youll be able to help them in areas they are not so good in. Test each other with quick fire definitions and glossary of terms, all of which can be plant on the website. Examiners like to see students using the ri ght terms to support their work, which means they hand out a lot of marks for these areas.Dont miss out on picking up some easy marks. Why not challenge one of your friends to an online quiz? See who really does know the most about a particular topic, and if you dont do so well, practice so that next time youll come out on top both in the quiz and in class. For more information log on to www. tt100. biz/students 29 Y You You need to ensure that you are fully prepared for your examination. onetime(prenominal) papers are excellent practice. You can get most of them free from the examination board website with answers. You can access these from the links on www. tt100. biz. reasonable reading theory and business books will help to a point, but seeing how it really works will stick in your recollection much better. The Times 100 Case Studies are written and intentional to help you see how theory works in the real business world. Start making your own revision guides up. Pick out th e separate from the Case Studies which interest and stimulate you. Mind mapping topics is a really good way to remember key areas. Look at the following you can develop this as far as you need to. A Case Study like Arcadia will help you. Autocratic pop Characteristics Management StylesTheory Paternalistic Type of organisation 30 For more information log on to www. tt100. biz/students ZZZZZZZZZzzzzzzzzz Z Make sure you get plenty of rest before your exams. This means dont leave the revision too late and try and cram it all in the night before. Research shows that little and often means you learn and remember more. Make sure you plan your time. Draw up a revision timetable which also builds in time for when you are not studying. play and fresh air are equally important and keep will your body in shape as The Times 100 will keep your mind in shape.Starting revision early will ensure you dont put yourself under excessive twitch and will allow you to identify topic areas that you are weak on or find difficult to understand. By identifying and tackling them early on you wint be worrying about them. Dont inter you can always ask your teacher for advice and guidance. Remember simple things such as keeping yourself hydrated can make a wide difference. So drink plenty of water www. tt100. biz For more information log on to www. tt100. biz/students 31 Something new for Edition 10At the bottom of our web pages you will find a magnifying glass. behind(predicate) some of the magnifying glasses there is a hidden letter. Collect the earn and re-arrange them to spell a well-known business studies term. Once you have registered your answer on our competition page, you will be asked a simple question, affiliated to the term. This will ensure your entry into our competition prize draw, where one gold winner will receive vouchers for the High Street store of their choice. Go to www. tt100. biz and start searching today. Good luck