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Business Studies

Developing a plan including external influences

Developing a plan including external influences Developing a plan including external influences in order to set out a route map to help in achieving business...

The basic economic problem and opportunity cost

The basic economic problem is that resources are scarce relative to the purposes for which they could be put. As a result, choices have...

Primary secondary and tertiary activity

Business activity can be conveniently divided up into: Extractive (primary) Manufacturing (secondary) Services (tertiary). Extractive industries like farming take out things which are already provided by nature, for...

Relationship between size risk and profit

In the 1970s and 80s size was very important to a successful business. Large organisations sought to benefit from economies of scale in order...

Growth and decline of businesses

Businesses grow in a number of ways - e.g. by increasing sales and profits, employing more staff, operating from more outlets, producing on a...

Economic growth

Economic growth is important if businesses are to grow and prosper. It relates to growth in the output of the economy as a whole....

Methods of growth economies of scale

Businesses can grow either organically i.e. through internal growth where profits are ploughed back into the business or through external growth such as through...

Enterprise culture

To be enterprising, one must be willing to take risks and think creatively to find innovative solutions to problems. The term culture refers to...

Decision making and stakeholders

Decision making lies at the heart of business activity. Typical decisions include: what to produce, and how how much to produce, and what selling techniques to...

Financial information and decision making

The finance department of a company generates a variety of financial information that is helpful in decision making, including: Profit and Loss accounts provide details...

Decision tree analysis

Decision trees are graphical representations of alternative choices that can be made by a business, which enable the decision maker to identify the most...

Corporate and organisational culture

It is widely recognised that different organisations have distinctive cultures. A commonly used definition of organisational culture is 'the way we see and do...

Devising and implementing a strategy

A strategy is a long-term plan for the whole organisation. Igor Ansoff defined corporate strategy as 'The positioning and relating of the firm/organisation to...

Developing a global strategy

Today we live in a global economy in which the time taken for people to move between continents has been significantly reduced and in...

Resources and assistance for a business

Businesses require inputs of time, information, people, raw material, premises, capital, labour and paperwork. You can see from this list that considerable managerial skills...

Business ownership

An organisation is a decision-making unit that sets out to achieve particular business objectives. A business organisation will produce a product or service that...

Business failure

Start up businesses have a very high failure rate in this country with as many as 1 in 3 failing in their first three...

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...

Business plan

A business plan is a description of a business and its plans for the next one to three years. The plan sets out the...

The planning process

Plans are developed in order to set out a route map to help in achieving objectives. Whilst the plan is made by managers with...

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