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Augmented reality brings subjects to life

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Business Studies Year 13 revision Day 22 - Statement of comprehensive income

Business Studies Year 13 revision Day 22 - Statement of comprehensive income

On day 22 of the Year 13 Recap, we review the statement of comprehensive income (income statement) and what stakeholders of the business can learn from looking at it.

The statement of comprehensive income is a financial document that summarises the ins and the outs in relation to a business’s cash flow over the course of the trading year.

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Business Studies Year 13 revision day 21 - Statement of financial position

Business Studies Year 13 revision day 21 - Statement of financial position

On Day 21 of the Year 13 Recap we review the basic aspects of the statement of financial position (balance sheet).

For businesses, the statement of financial position is one of the most important accounts produced over the course of the trading year. This is because it represents a financial snapshot of the wealth position of that business over the year and importantly focuses on three important elements – assets, liabilities, and capital.

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Business Studies Year 13 revision Day 20 - Network Analysis

Business Studies Year 13 revision Day 20 - Network Analysis

On Day 20 of the Year 13 Recap we recap the basics of network analysis diagrams and how they can be used to identify the critical path of projects. 

Project management is a term that relates to how efficiently and effectively businesses can run a project, and crucially, the ability of the firm to deliver the project on time. The bigger a business becomes, the bigger the scale and might of their projects.

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Business Studies Year 13 revision Day 19 - Net Present Value

Business Studies Year 13 revision Day 19 - Net Present Value

On day 19 of the Year 13 Recap we focus on the Net Present Value which is the final recognised investment appraisal method in A-level Business.

How often have you heard the phrase ‘Time is Money’? Well, this phrase links succinctly into finding the net present value of an investment project. This is because a fixed sum of money today is always worth more to an individual than the same fixed sum of money in a years time.

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Business Studies Year 13 revision Day 18 - Average rate of return

Business Studies Year 13 revision Day 18 - Average rate of return

On day 18 of the Year 13 Recap we are turning our attention to the second of three investment appraisal procedures - Average Rate of Return (ARR).

The ARR of an investment project is a procedure used by businesses to try and quantify the profitability of an investment project undertaken. This done by dividing the total return the project is expected to generate by the number of years the investment will last for.

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Business Studies Year 13 revision Day 17 - Payback Period

Business Studies Year 13 revision Day 17 - Payback Period

On day 17 of the Year 13 Recap we begin our review of investment appraisal methods with payback periods.

A business can never be sure that an investment will generate the returns that are expected to generate. This can often complicate the decision-making process behind investing because businesses have many alternative projects to invest in, but only enough resources to invest in one.

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Business Studies Year 13 revision Day 16 - Decision trees

Business Studies Year 13 revision Day 16 - Decision trees

On day 16 of the Year 13 recap we review the basics behind constructing decision trees and how they can be used to aid investment appraisals. 

Nothing is ever certain in business. When a business has a range of different investment opportunities to undertake, tough decisions must be made regarding which project the business should allocate their resources to.

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Business Studies Year 12 revision Day 15 - Strategic Direction, Ansoff's Matrix

Business Studies Year 12 revision Day 15 - Strategic Direction, Ansoff's Matrix

On day 15 of our Year 13 recap we review Ansoff’s Matrix and how it can be applied to outline the risks involved in making strategic choices and decisions.

The challenge for a lot of businesses is how to stay relevant in an ever-changing competitive environment. Businesses are often tasked with having to invent and launch new products to the market or improve their existing product range.

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Business Studies Year 13 revision Day 14 - Strategic Direction, Porter's Strategic Matrix

Business Studies Year 13 revision Day 14 - Strategic Direction, Porter's Strategic Matrix

On day 14 of the Year 13 Recap we review the general business strategies outlined in Porter’s Strategic Matrix.

Whenever a business is designing and implementing a strategy, the management team of a business need to decide upon the direction that the business wants to take to succeed in achieving that strategy. Often, this involves a business working out where it is going to position itself in the marketplace in relation to its targeted customer base. Michael Porter stated that there are four general strategies available to any business in any industry. The matrix is used by businesses as a framework for identifying the strategic position they will be taking going forward.

Here Jack takes you through the revision slide on Porter’s Strategic Matrix:

 

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Business Studies Year 13 revision Day 13 - Digital Technology

Business Studies Year 13 revision Day 13 - Digital Technology

On day 13 of the Year 13 Recap we review the role that digital technology plays in helping businesses develop and become more competitive in the marketplace.

Digital technology might sound like a rather abstract term, but it essentially refers to any piece of equipment that a business uses which contains a computer chip.

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Business Studies Year 13 revision Day 12 - Innovation

Business Studies Year 13 revision Day 12 - Innovation

On day 12 of the Year 13 recap we focus on the innovation pressures that business face and the different approaches a business can take to encourage innovation within the business.

Innovation drives improvements in product standards and helps a business source a selection of different cost efficiencies, through improvements in the production process.

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Business Studies Year 13 revision Day 11 - Causes of change

Business Studies Year 13 revision Day 11 - Causes of change

 On Day 11 of the Year 13 recap, we review the factors that can cause strategic change within a business.

Change can be disruptive, in the sense, that it can destabilise the processes and operations of a business and unsettle staff members along the way.

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Business Studies Year 13 revision Day 10 - Strategic change

Business Studies Year 13 revision Day 10 - Strategic change

On day 10 of the Year 13 recap we review the disruption that is caused when a business must commit to making a strategic change.

The environment in which businesses operate, both internally and externally, is constantly changing and evolving. This means that a business cannot maintain a static strategy, it must be prepared to make changes to its existing strategy to react to the changing market conditions.

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Business Studies Year 13 revision Day 9 - Corporate cultures

Business Studies Year 13 revision Day 9 - Corporate cultures

On day 9 of the Year 13 recap we review the different corporate cultures that can emanate within a business and how the culture of a business shapes the strategic direction of the business going forward.

The organisational culture of a business shapes the ethos and vision of the company because it reflects not only the organisational hierarchy of the business, but also the behaviours, attitudes and spirit that circulates within the stakeholders of the company.

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Business Studies Year 13 revision Day 8 - Corporate Social Responsibility

Business Studies Year 13 revision Day 8 - Corporate Social Responsibility

On day 8 of the Year 13 Recap we review the topic of corporate social responsibility (CSR) and why it matters for a business.

All private sector organisations are in this game for one reason and that is to make a profit. However, businesses also need to respect the fact that they have several different social responsibilities.

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Business Studies Year 13 revision Day 7 - Shareholder vs Stakeholder concept

Business Studies Year 13 revision Day 7 - Shareholder vs Stakeholder concept

On day 7 of the Year 13 Recap we take a look at the distinction between the shareholder and stakeholder concept for a business.

Stakeholders of a business represent the individuals who have a vested interest in the business because they are influenced by the decisions that a business makes.

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Business Studies Year 13 revision Day 6 - Porter's Five Forces Model

Business Studies Year 13 revision Day 6 - Porter's Five Forces Model

On day 6 of the Year 13 Recap we look at Porter’s Five Forces Model.

This model was devised to illustrate the range of competitive pressures that a business can expect to face when entering an industry. These competitive pressures are all interrelated and affect the overall rivalry between firms in any given market.

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Business Studies Year 13 revision Day 5 - PESTLE Analysis part 2

Business Studies Year 13 revision Day 5 - PESTLE Analysis part 2

On day 5 of the Year 13 Recap we continue our review of the business acronym PESTLE and focus on the final three components – technological, legal and environmental threats to opportunities.

Businesses must cope with quite dramatic and dynamic changes within the market. One area in which change is a prominent factor is the quality and uptake in technology within firms.

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Business Studies Year 13 revision Day 4 - PESTLE analysis part 1

Business Studies Year 13 revision Day 4 - PESTLE analysis part 1

On day 4 of the Year 13 recap we begin our review of the business acronym PESTLE and discuss the relevance of the first three components.

PESTLE is an acronym that businesses use to analyse the possible threats to future opportunities. This means that businesses take a wide and expansive perspective of some of the changes in the external environment which can impact their own performance.

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Business Studies Year 13 revision Day 3 - SWOT Analysis

Business Studies Year 13 revision Day 3  - SWOT Analysis

On day 3 of our Year 13 recap we take a look at SWOT analysis and why it matters for a business.

If a business is to deliver a balanced performance across different aspects and departments of the company then it needs to identify what the business does well and what the business can improve on. This is crucial because a business is only as productive as its least productive division.

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