Students Guide

disciple 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 Business ownership floriculture Direct selling Ethics Factors of mathematical crossroadionion Growth Higher grades Insolvency project advertizement Kellogg and the product feel cycle Logistics Marketing mix New product set appearment Organisational theatrical intents Pre-issued persona Studies Quantitative and Qualitative foodstuff search Recruitment Stakeholders Training Unseen Case Studies View t break through ensemble the latest www. tt one C. p jalopy 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 to a greater extent selective information log on to www. tt100. plot/students Listings Visit www. tt100. plot for Case Studies on these topics from the following organisations. Aims and objectives Effective workplaces Aims, objectives and values Enterprising managers Ansoffs matrix Ethical supply trai n Corporate Social Responsibility Ethics Customer gain Factors of Production Developing rawborn give the axes Inclusion For more information log on to www. tt100. secret plan/students 3 Listings Liability Ownership Market look into PESTLE/SLEPT analysis Meeting changing regards Product portfolio Meeting customers motivations Quality MutualsRe-branding New product development Recruitment and selection Organisational structures Recruitment, selection and bringing up 4 For more information log on to www. tt100. game/students Listings Recruitment, selection and training Sustainability Re-positioning The sales function Roles of departments Total timberland management Segmentation and customer look ats Training Stakeholders Training for cometh bet on for business Unions For more information log on to www. tt100. game/students 5 A Aims and objectives Aims atomic numeral 18 the boilersuit goals that a business seeks to achieve. Aims arse be broken consume into objective s.Usuall(a)y, objectives argon more precise than aims. Because the segment for Education and Skills (DfES) and the Department of Health sponsor the National Healthy Schools Programme (NHSP), they atomic number 18 responsible for geological formation its aims and objectives. The Programmes key aims argon to 1. raise trains of achievement across the school population 2. curve health inequality 3. promote social inclusion. (Social inclusion is an approach that includes all members of a society preferably than excluding already disadvantaged individuals and separates. ) I atomic reactorly all aims and objectives should be SMART.Specific Measurable Achievable Realistic (or relevant) beat related. specify the website to see what this performer with a practical testple The National Healthy Schools Programme. 6 To drive bug out more near aims and objectives check out www. tt100. game/hda Business ownership B on that read/write head atomic number 18 a number of different t ypes of business ownership Sole Traders are owned and controlled by one person who is responsible for providing all the capital and prevailning of the business with un limited liability. Partnership ii or more people form a business and share responsibility and costs. They also view as unlimited liability.Private Limited Companies are owned by an individual or a be gnomishd number of people. Public Limited Companies owned by shareholders but the shares are open for anyone to buy on the stock exchange. Mutuals organisations where the owners are also their customers, Nationwide is a Mutual. This brings certain advantages. BUILDING SOCIETIES Members BANKS Shareholders Charge less(prenominal) to borrowers and yield more to savers Charge more to borrowers and pay less to savers Top Tip Ownership always appears in examinations. Make sure you know the advantages and disadvantages of the different types of ownership.In particular, youll need to call what liability means. Liabilit y means being responsible for paying the companys debts. It chamberpot be limited when it is restricted to the heart invested or unlimited where all personal assets prat be used to pay off a companys debts. To read this Case Study and more on Nationwide log on to www. tt100. biz/nationwide 7 C Culture Culture describes the typical way an organisation does things, including patterns of behaviour and relationships. Important aspects of culture at Coca-Cola Great Britain are an emphasis on teamwork and empowerment.This reflects the culture of The Coca-Cola come with as a whole. By creating a friendly, innovative culture, Coca-Cola Great Britain is able to depend on a in mettle nigh spirits quality workforce. This alleviates it to maintain brand leadership in Great Britain and in every other grocery in which it operates. Top Fact The Coca-Cola Company owns or licences nearly 400 brands in non-alcoholic beverages serving follow uprs in over 200 countries. Coca-Cola, Coke and th e institution of the Coca-Cola Contour Bottle are registered trade marks of The Coca-Cola Company. 8 To decide out more rough organisational structures visit www. tt100. biz/culture Direct selling DThis is where an organisation deals manoeuvre with consumers in their homes or by phone or mail. Amway is one of the worlds largest collide with sales companies. It full treatment with around 3 million Independent Business Owners (IBOs) in more than 80 countries. IBOs are usually individuals running an enterprise selling goods. These IBOs are the link between Amway and the final consumer. They are also Amways links with citizens and communities across the globe. As a direct selling company, they sell products now to consumers and bypass the traditional high street. In the UK Amway distributes a variety of products Personal Care strip Care & ColourCosmetics Durables Nutrition and Wellness Catalogue Items Home Care Fragrances, body treat and hair care products A range of skincare and colour cosmetics, Cookware and water treatment systems food for thought supplements, food and drinks Third party electrical goods Laundry, cleaning, and car care products For more detail on direct selling go to www. tt100. biz/amway 9 E Ethics Ethics are moral principles that run into the way in which an individual or a business be defys. A simple way of looking for at ethics is to consider what is sound and wrong and select the right option.Ethical companies do the right thing and concern themselves with the long term. Research shows Vodafones strong position. Stakeholders perceptions of Vodafones CSR Performance Competitor 1 Public 25% feel 10% formers Competitor 2 Public 29% The graph shows how Vodafone is perceive in comparison with other operators with regard to how seriously it takes its responsibilities to society and the environment. Groups of opinion formers and members of the usual were askedHow seriously do you think company X takes its responsibilities to soci ety and the environment? The percentages show the number Insert graph Pg 2 Col very of respondents replying 1 Para 2 seriously or fairly seriously. view 14% formers Competitor 3 Public 23% Opinion 5% formers Vodafone Public 27% Opinion 33% formers examination eons How smoke being ethical benefit an organisation give care Vodafone? stamp down your get along at www. tt100. biz/student For further explanation of ethics go online to 10 www. tt100. biz/vodafone Factors of Production F Land, Labour, gravid and Enterprise are the factors of production. Suppose you wanted to leap out a business. What would you need?First, you would dedicate 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 essential and the type of labour to be employed. In addition, you would need to find the money (capital) to pay for setting up all these things. Above all, however, you would need organisationa l skills. In business terms an ability to organise, to loafher Product Capital with a pass oningness to take Land or Enterprise Labour ventures in pursuit of financial aid returns, is called enterprise.Some would consider enterprise to be the most important of the four factors of production, as poorly run businesses rarely survive for long. Land Securities is a property company. One of its main activities is renting out the buildings it owns. interrogatory Times Factors of production is a regular question on examination document. Log on to get a detailed explanation of each of the factors of production and how Land Securities combines them. To find out more roughly factors of production check out www. tt100. biz/land_securities 11 G GrowthAs organisations grow and develop they may change their type of ownership to suit their circumstances. A business owner may start as a sole trader. Funding may become a pressing problem as the business grows and the sole trader needs, say, to buy new equipment or to move to larger premises. In this fictitious character a sole trader may then decide to become a private limited company, which terminate raise additional money by means of a private share issue. A maturation business needs capital, this might be raised through issue of new shares (known as a new issue) retained profit overdraft bank loan hire purchase sale and leaseback.A growing business might go public and raise funds 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 basin 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 subroutine 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 using examples from the Case Studies. Examiners authentically like it when you can relate class work to reliable organisations they give you extra marks At www. tt100. biz you can find loads of Case Studies showing how wellknown organisations positively implement the conjecture that you study. Its also very likely that you go out come across Case Studies in your exams. You will be able to find practice exam papers and mark objects 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 exactly where you need to go.We bear great Case Studies in a variety of formats to meet your own needs all-inclusive 2000 news program versions as those in the binder summaries 500 word versions Brief Cases 500 word versions with shorter sentences and less technical words. Youll also find Interactive Quizzes Test knowledge with these fun, synergistic quizzes masking piece the key topics at 14-1 6. Use them with the Case Studies or on their own as fiat its up to you. textual matter Book supposition 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 course of instruction 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 copious assets (what they own) that they can turn into cash speedily enough to pay their pressing liabilities (what they owe). By law, the owners of small enterprises, including all sole traders and most partnerships, have u nlimited 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 Tip Liability appears frequently on most exam papers. There are plenty of examples and explanations on The Times 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 mission (LSC) requires talented people and needs to communicate this in its recruitment advertisements. They provide compelling reasons why umteen talented people with an interest in the welfare of society look 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 newspaper National newspaper Check your retort at www. tt100. biz/students To learn more on the Legal Services Commission go to ww. tt100. biz/legal_se rvices 15 K Kellogg and the product life cycle The product life cycle is the phases 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 care fully at this stage we may see saturation of the market and the onset of a decline in interest. Life pass Sales Maturity Decline Growth Introduction Time Testing TimesAt which station in the product life cycle is advertising 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 raw materials to manufacturers and finish products to shops. Wincanton plc specialises in designing, impl ementing and operating solutions to customers supply problems. It can also manage all aspects of delivery 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 Distribution 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 makes sure that it meets the needs of its customers. Marketing involves discernment who the customers are and what they want through internal data initiations such as sales figures and through consumer search 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 in front visiting the store or website . Testing Times What methods can a company use to make 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, ordinarily based on look 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 same time modifying existing fuels derived from pure(a) oil to make them more ecologically efficient in order to reduce greenhouse bungle emissions. Shell has pioneered the development of several 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 free from carbon. give notice cell engine s 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 adjust if the hydrogen is produced by using renewable power to electrolyse water. Shell Hydrogen is building a moneymaking(prenominal) business to begin 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 within manufacturing include people working on the factory shop dump as machine operators and as technicians. Administration Ensuring the smooth operation of the manufacturing process by offering get administrative support. Engineering Designing engines etc and create the prototy pes 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. Purchasing and Logistics Ensuring that components arrive just-in-time (just ahead 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 look 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 instructor whether there will be any in your exam. A good way to get a feel for a pre-issued Case Study is to lease a SWOT analysis.This should let you pick out the main elements and possible problems/solutions that the organisation is facing. Remember Strengths and Weakne sses 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 forthwith 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 practice 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. scholarly person 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 more more. INTERACTIVE 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 Quantitati ve & Qualitative market research Quantitative data is information that can be measured.Questions with yes/no answers known as closed questions are used. Qualitative data is all about peoples feelings and opinions. It is a great deal obtained through open questions (i. e. What do you like about it? ). 1. Quantitative research. This involves appeal 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 survey which Homebase conducts amongst a sample of Spend & Save loyalty card holders. This is through with(p) three times a year to gauge delight with, and loyalty to, Homebase.The survey allows Homebase to monitor satisfaction over time and highlight any areas that may be causing customers problems. Homebase is then able to collapse the 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 few such as questionnaire interviews web poll government sources. Also make sure you know the difference between primary and secondary research. autochthonic research is carried out by the firm itself. Secondary research is data a company finds that has been through with(p) 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, wh ich 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 Specification? 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 company Shareholders Owners of shares in the company. These are Looking for sustainable, healthy dividend payments chiefly large institutions but also include a large and a rising share price. number of individual shareholders. Consumers Millions of people worldwide who b uy and/or lacking(p) 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 Looking 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. Society 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 company 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.McDonalds 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 programme that provides training in all areas of business. Crew trainers work shoulder-to-shoulder with trainees while they learn the operations skills necessary for running each of the 11 workstations in each restaurant, from the front counter to the grill area. every last(predicate) 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 stick out you think of three different types of training? For more information log on to www. tt100. biz/mc beginneralds 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 worsened? 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 download 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 come about 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.Seeing 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 really 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 found on the website. Examiners like to see students using the right terms to support their work, which means they hand out a lot of marks for these areas.Dont miss out on picking up some prospering marks. Why not challenge one of your friends to an online quiz? See who really does know the most about a particula r 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 brisk for your examination. Past papers are excellent practice. You can get most of them free from the examination climb on website with answers. You can access these from the links on www. tt100. biz.Just reading theory and business books will help to a point, but seeing how it really works will stick in your memory much better. The Times 100 Case Studies are written and designed to help you see how theory works in the real business world. Start making your own revision guides up. Pick out the move 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 Democratic Characteristics M anagement 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 set forth 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. Exercise 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 pressure 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 wont be worrying about them. Dont forget you can always ask your teacher for advice and guidance. Remember simple things such as keeping yourself hydrated can make a colossal 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 some of the magnifying glasses there is a hidden letter. Collect the letters 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, connected to the term. This will ensure your entry into our competition prize draw, where one lucky winner will receive vouchers for the High Street store of their choice. Go to www. tt100. biz and start searching today. dandy luck