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Business Studies
Business studies is the study of how businesses work. The main focus is on how businesses can be successful. There are many different factors that contribute to a business’s success. One area is strategy, a business needs to have a good strategy to succeed. Marketing is another important factor, a business needs to market its products or services in a way that will attract customers. The external environment is also important a business needs to be aware of what is happening in the world around it so that it can make changes if necessary. Finance is one of the most important factors, a business needs to have enough money to keep running and grow. People are key, a business needs good employees who are committed to the company and who are willing to work hard. Learn more by reading our business theory topics below.
Stakeholders
Stakeholders are individuals, groups, or organizations with a vested interest in a business's activities and outcomes. They can be categorized as internal or external,...
Mission
A mission is the fundamental purpose that drives an organization's existence and operations. It acts as a guiding principle, influencing decision-making processes and actions...
Sectors of Industry
The economy is typically categorized into distinct sectors based on the nature of economic activities within them. These sectors include primary, secondary, tertiary, quaternary,...
Risk
Risk is the potential for loss or harm inherent in any decision or action. It is a fundamental aspect of life, present in all...
Growth
Growth is a fundamental concept crucial for personal development and success. It encompasses the process of increasing in size, expanding, or developing physically, mentally,...
Enterprise
Enterprise refers to the capacity and willingness to undertake risks and manage projects or business ventures. It encompasses creativity, innovation, and the drive to...
Decision Making
The decision-making process is a complex cognitive function that involves choosing a course of action from multiple options. This process is fundamental to human...
Culture
Culture is defined as the collective beliefs, customs, arts, and way of life of a specific society or group. It encompasses values, traditions, language,...
Business Start-Up
Market research is a critical component of starting and running a successful business. It involves collecting and analyzing data about the target market, including...
Business Strategy
Business strategy is a long-term plan of action designed to achieve specific goals or objectives. It involves defining a company's direction and allocating resources...
Business Organisation
Business organization is the systematic arrangement and coordination of activities within a company to achieve its objectives. This process involves structuring, planning, and allocating...
Business Expansion
Business expansion is a strategic decision that requires thorough analysis and planning. Companies may choose to expand for various reasons, including meeting increased customer...
Business Planning
Business planning is a critical process for organizations of all sizes and stages. It creates a strategic roadmap outlining goals, objectives, and strategies for...
Aims and Objectives
Aims and objectives are crucial elements in planning and strategy development for businesses, organizations, and personal growth. Although often used interchangeably, they have distinct...
Roles and Responsibilities
In organizations of all types and sizes, roles and responsibilities form the foundation of workplace structure and functionality. Roles refer to the specific positions...
Protecting People
In the modern era, comprehending various safety and security risks is essential. These risks encompass natural disasters like hurricanes, earthquakes, and wildfires, as well...
Organising People
Organizing people within an organization is essential for business success and efficiency. Well-organized teams collaborate more effectively towards shared objectives, resulting in increased productivity....
Developing People
Employee development is a critical component of organisational success and growth. Investing in employee skills and knowledge enhances job performance and increases job satisfaction....
Supply Chain
Supply chain management is the comprehensive oversight and optimization of the flow of goods, services, information, and finances from suppliers through manufacturers, wholesalers, and...
Research and Development
Research and development (R&D) is a vital process for organizations of all sizes, from startups to multinational corporations. It involves creating new knowledge and...