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OCR Cambridge National in
Business and
Enterprise
(Level 1/2)
R063
Setting up and running an
enterprise
Introduction
Setting up an enterprise can be a very
rewarding thing to do.
Whether you are looking to provide a
service, supply a product or run an
event you will need to take the
initiative and use your skills
to make it a success.
Research
What type of enterprise will work?
You will need to find out if your idea is viable by
researching; one way of doing this is by carrying
out a SWOT analysis.
Strengths
Weaknesses
Opportunities
Threats
Once you have decided if your idea is a
viable idea you will need to create a plan.
Business Plan
You will learn how to produce plans to show that
you have thought about the following points:
• Target market
• Researching the market
• Prices and offers
• Advertising
• Suppliers
• Location
Communication Skills
Setting up a business or organising an event
requires you to be able to communicate well.
You will learn about:
• Verbal communication
• Remote communication
• How to write memos,
reports, prepare agendas
and minutes
• Giving a presentation to
an audience
Working together
Getting the best out of those you work with
requires good relationships. You will learn
about team-working, negotiation skills, how to
assign task to others and ensuring the best use
of your resources.
Working together
Being able to receive feedback and take
criticism is also necessary if your venture is to
be a success.
Costs
Many profitable enterprise initiatives fail
because of cash flow. Knowing how to keep
your accounts, order stocks, pay wages and
make sure your customers
pay on time are key to the
continued success of your
enterprise.
Your enterprise will at
least need to be able
to break even.
You will learn . . .
What an enterprise activity is
How to collaborate with others
How to set targets and
allocate resources
How to plan for success
How to look after your
customers
How to advertise your
services and products
How to estimate the costs
and revenues
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