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Business Studies Recap Day 24 - Analysing Break Even Charts

 On day 24 of the Year 12 recap, our analysis of break-even points continues by looking at break-even charts.

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Business Studies Recap Day 23 - Break Even Analysis

On day 23 of the Year 12 Recap we look at break-even points for a business and why it is important for any business to reach this particular point.

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Business Studies Recap Day 22 - Budgeting

On day 22 of our Year 12 Recap we are looking at how businesses go about budgeting and planning for the trading year ahead.

 

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Business Studies Recap Day 21 - Sources of Finance

On day 21 of the Year 12 Recap we turn our attention towards the finances of a business and specifically how a firm acquires the finances it needs to invest and grow.


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Business Studies Recap Day 20 - Revenue, Costs and Profits

 On day 20 of the Year 12 Recap we look at some of the basic cash flow concepts of a business – revenue, costs and profits.

 

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Business Studies Recap Day 19 - Financial Objectives

 

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Business Studies Recap Day 18 - Motivational Theories

 On Day 18 of our Year 12 Recap we take a look at the motivational theories put forward by the most influential pieces of literature available in the academic study of business.

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Business Studies Recap Day 17 - Job Design

On Day 17 of the Year 12 Recap we look at job design and why it is important for a business to adapt the requirements and responsibilities of a job to suit the types of workers that fill that position within a business.

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Business Studies Recap Day 16 - Organisational Structure

On day 16 of the Year 12 Recap we are looking at the different organisational structures that a business can have.

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Business Studies Recap Day 15 - Human Resources Data

 On day 15 of the Year 12 Recap we look at the different types of data that can be collected relating to the human resources department of the business.

 

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Business Studies Recap Day 14 - HR Management

 On day 14 of the Year 12 Recap we are turning our attention towards the different approaches in which human resources can be managed within a business.

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Business Studies Recap Day 13 - HR Objectives

 On day 13 of the Year 12 Recap we turn our attention to the Human Resources (HR) department of the business and discuss the objectives that a business should have in mind when managing the business’s workforce.


For most businesses, it is crucial to have some element of human input into the production process to combine with the level of sophistication that technology brings the company. However, unlike technology and machines, humans cannot be calibrated to a specific setting and left unmonitored. The management team of a business needs to organise, motivate and develop their staff to maximise performance and ensure the company can achieve its corporate objectives. This can be a challenging aspect of running a business; as every worker reacts to workplace policies in a different way.

Here Jack guides you through the HR objectives revision slide:

 

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Business Studies Recap Day 12 - Price and Income Elasticity of Demand

 On day 12 of the Year 12 Recap we look at elasticity and the different forms of elasticity you need to be comfortable with at A-level Business.


 

Elasticity measures the responsiveness of a change in one variable to a change in another variable. The business application of elasticity is that a firm can use the price elasticity of demand (PED) and income elasticity of demand (YED) to their advantage when deciding upon their own strategy. If a firm knows the PED value of their product they have an insight behind the expected net impact on business revenue from a change in price. This forms the basis for a firm’s pricing strategy. The YED value helps a firm establish the expected change in demand from a change in household disposable income. This elasticity measure is important for a firm to be able to recognise how well placed it is in operating in different economic scenarios and events.

Here Jack guides you through the elasticity revision slide:


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Business Studies Recap Day 11 - Pricing Strategies


  On day 11 of the Year 12 Recap, we look at the different pricing strategies that firms can charge.

 



If firms are to maximise the commercial success of a product, the right price for the product needs to be charged. However, this can often be more difficult for a firm than you might expect. The right price to set is not a static decision which can be taken – it depends on the competitive environment, the business’s current strategy and the external environment the business operates in. Therefore, firms have many different pricing strategies available to them that they can adopt.

 

Here Jacob guides you through the revision slide on pricing strategies:

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Business Studies Recap Day 10 - Product Life Cycle

 On day 10 of the Year 12 Recap, we look at the product lifecycle.

 

Product Life Cycle - Business Studies revision

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Business Studies Recap Day 9 - The Marketing Mix

 Day 9 of our Year 12 recap looks at the Marketing Mix.

 

The Marketing Mix Business Studies revision

 

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Business Studies Recap Day 8 - Niche and Mass Marketing

On day 8 of our Year 12 Recap, we will look at the distinction between niche and mass marketing campaigns when a business is launching a new product.

Business Studies Niche and Mass Marketing

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Business Studies Recap Day 7 - Market Research

On day 7 of our Year 12 Recap we look at market research and how a business can take certain marketing measures to improve the performance of the business’s products or services.

Business Studies Market Research

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Business Studies Recap Day 6 - Marketing Objectives

On day 6 of our Year 12 Recap, we turn our attention to the business department of marketing and what better way to start off than by looking at marketing objectives.

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Business Studies Recap Day 5 - Management and Leadership

On day 5 of the Year 12 Recap, we look at the distinction between management and leadership in a business.

 

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