AS Theme 2 Pre Learning - Homewood School & Sixth Form Centre

BUSINESS STUDIES

AS Pre Learning Booklet Theme 2

2015/ 2016

HOMEWOOD SCHOOL AND SIXTH FORM CENTRE

Mrs.

Stokes

Business Studies AS Business information and contract

This pre learning document is for your use only. I will check the booklet is kept up to date and that you have completed the activities in preparation for the lesson.

You can either print off the document and then keep it in your folder or you can keep an electronic copy of the work. I would recommend that you that you keep the document in an area that you can access both at home and at school. There is a website called “Drop Box” that is free and you can access it anywhere that there is Wi-Fi and an internet.

The document is based on the content and knowledge of the whole AS level course. As discussed in the induction lesson, this pre –learning has been designed with teaching content outside of lessons, so that during the lesson we can focus on application and analysis tasks rather than simply learning content.

The pre learning document has been made so that you can work independently and that you can then bring your information into the classroom to use in the lesson. This being said, without the pre learning having been completed, you will struggle to understand the content of the lesson. You will also have less to contribute to the lesson and to other members in the class.

As your teacher, I would like to complete the pre learning as discussed in lessons before, to participate in classroom discussions and also to complete homework when set. I would also like you to prepare for any formal assessments and to complete a review after each section to ensure understanding.

The terms of this contract are above and therefore should you agree please sign your name below on the line and get the teacher to sign to agree to their part of the contract.

Teacher name: .

Student name: .

THEME 2 AS BUSINESS 1

AS Business

Theme 2

2.1

Raising finance

2.1.1

Internal finance

Definitions of key terms

 Owner’s capital

 Personal savings

 Retained profit

 Sale of assets

Pre learning:



Read through the web link and take relevant notes http://www.bbc.co.uk/schools/gcsebitesize/business/finance/sourcesoffinancerev2.s

html

Review of topic:

How confident are you with the topic: RAG (colour please)

What have you found a challenge?

What are you going to do to help improve this area:

What can the teacher do?


2.1.2

External finance


 Family and friends

 Banks

 Peer to peer funding

 Business angels

 Crowd funding

 Other businesses

 Loans

 Share capital

 Venture capital

 Overdrafts

 Leasing

 Trade credit

 Grants

Pre learning



Read through the web-links and take relevant notes http://smallbusiness.chron.com/examples-external-financing-alternatives-

69025.html

 http://www.tutor2u.net/revision_notes_accounting.asp#head2







2.1.3

Liability


 Limited liability

 Unlimited liability

Pre learning



Read through the web – link and then print off the document ready for the lesson

 https://mattg99.wordpress.com/2011/12/24/limited-and-unlimited-liability-gcsebusiness-studies-revision/







2.1.4

Planning


 Business plan

 Cash- flow forecasts

 Total Inflows

 Total Outflows

 Total receipts

Pre learning



Sit down with a family member and ask them if they could go through their running costs of the household. Please also ask them for wages/salaries per month. They can make it up if wanted but keep it rough. Bring in the findings to the class.



If you do not want to do this please research averages monthly costs of a family of four.







AS Business

Theme 2

2.2

Financial planning

2.2.1 Demand


 Sales forecasts

 Consumer trends

 Economic variables

 Actions of competitors

Pre learning



Research the following topics and then complete the test – bring your results into the lesson

 http://www.tutor2u.net/business/quiz/buss1/budgeting/quiz.html







2.2.2 Sales, Revenue and Costs


 Sales volume

 Sales revenue

 Fixed costs

 Variable costs

 Total revenue

Pre learning



Research the formulas for sales revenue and total revenue



Find key terms definition



Bring examples of each – Fixed and variable costs – to the lesson







2.2.3 Break Even


 Selling price

 Variable cost per unit

 Total fixed costs

 Total revenue

 Contribution

 Contribution per unit

 Margin of safety

Pre learning



Research the formulas for break even and contribution



Find key terms definition







2.2.4 Budgets


 Budget

 Historical figures

 Zero based

 Variance analysis

Pre learning



Read through the article

 http://beta.tutor2u.net/business/blog/revision-quiz-using-budgets







AS Business

Theme 2

2.3

Managing finance

2.3.1 Profit


 Gross profit

 Profit and loss account

 Operating profit

 Profit for the year (net profit)

 Cash

 Profit

 Gross profit margin

 Net profit margin

 Operating profit margin

Pre learning



Copy out the mind map from the web link

 http://www.bized.co.uk/sites/bized/files/images/costrevprof1map.gif



Then complete the activity (as many tasks as you can get through) and bring to the lesson

 http://www.bized.co.uk/educators/level2/finance/lesson/costrevprof1.htm







2.3.2 Liquidity


 Balance sheet

 Current ratio

 Acid test ratio

 Working capital

 Liquidity

Pre learning



Read through the liquidity ratios webpages and bring the information to class – print off if easier

 http://www.s-cool.co.uk/a-level/business-studies/ratio-analysis/revise-it/ratioanalysis-introduction







2.3.3 Business failure


 Internal factors

 External factors

 Financial factors

 Non-financial factors

Pre learning



Read through the articles/webpages and bring your opinions to the class

 http://www.forbes.com/fdc/welcome_mjx.shtml

 http://www.businessknowhow.com/startup/business-failure.htm

 http://www.theguardian.com/small-business-network/2014/oct/28/top-reasonssmall-businesses-fail







AS Business

Theme 2

2.4

Resource management

2.4.1 Production, productivity and efficiency


 Job

 Batch

 Flow

 Cell

 Output per unit

 Productivity

 Competitiveness

 Efficiency

 Minimum average cost

 Labour intensive production

 Capital intensive production

Pre learning



Read through the web links and take notes/print off

 http://www.bbc.co.uk/schools/gcsebitesize/business/production/methodsofproducti onrev1.shtml

 http://beta.tutor2u.net/business/reference/cell-production

 http://www.bbc.co.uk/schools/gcsebitesize/business/production/breakevenanalysisr ev1.shtml

 http://beta.tutor2u.net/business/reference/capital-and-labour-intensity







2.4.2 Capacity Utilisation

L.Os


 Capacity utilisation

 Underutilisation

 Overutilization

Pre learning



Read through the web link and bring notes to class

 http://beta.tutor2u.net/business/reference/capacity-utilisation







2.4.3 Stock control


 Stock control

 Buffer stock

 Just in Time

 Waste minimisation

 Lean production

Pre learning



Read through the web link and bring notes to class

 http://www.bbc.co.uk/schools/gcsebitesize/business/production/organisingproducti onrev1.shtml







2.4.4 Quality management


 Quality

 Control

 Assurance

 Circles

 Total quality management

 Continuous improvement (Kaizen)

Pre learning



Read through the web link and bring notes to lesson

 http://www.bbc.co.uk/schools/gcsebitesize/business/production/locationanddistribut ionrev2.shtml







AS Business

Theme 2

2.5

External Influences

2.5.1 Economic influences


 Inflation

 Consumer price index

 Exchange rate

 Appreciation

 Depreciation

 Interest rates

 Taxation and government spending

 The business cycle

Pre learning



Read through the web links and take notes

 http://businesscasestudies.co.uk/first-group/managing-external-influences/politicaland-economic-factors.html

 http://businesscasestudies.co.uk/first-group/managing-external-influences/socialand-technological-factors.html

 http://businesscasestudies.co.uk/first-group/managing-externalinfluences/environmental-and-legal-factors.html

 http://businesscasestudies.co.uk/first-group/managing-externalinfluences/conclusion.html







2.5.2 Legislation


 Consumer protection

 Employee protection

 Environmental protection

 Competition policy

 Health & safety

Pre learning



Read through the slide share and take notes

 http://www.slideshare.net/tutor2u/buss4-business-legislation

 http://www.bbc.co.uk/schools/gcsebitesize/business/people/interviewrev1.shtml







2.5.3 The competitive environment


 Competition

 Market size

Pre learning



Read through the article on the web link and then bring the notes to class

 http://businesscasestudies.co.uk/mcdonalds-restaurants/staying-ahead-in-acompetitive-environment/the-competitive-environment.html







AS Theme 2 Pre Learning - Homewood School & Sixth Form Centre

BUSINESS STUDIES

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BUSINESS STUDIES

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