 
AS Business Studies Course Overview
Business Studies is the study of how a business uses the resources it has to produce goods and services which satisfy consumers’ needs and wants and result in fulfilling its own objectives.
The AS units of the course focus on small to medium-sized businesses operating within national, as opposed to international markets.
Unit 1 covers the issues involved in a business start-up, such as research and planning, as well as the factors that determine success.
Unit 2 focuses on how established businesses might improve their effectiveness by making tactical decisions at a functional level
This course enables you to focus on the dynamic nature of the contemporary business world; provides opportunities for research into topical business issues and offers opportunities for the development and application of a full range of academic skills.
Unit 1 - Planning and Financing a Business
Starting a Business
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Enterprise
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• enterprise and entrepreneurs
• the importance of risk and rewards such as
profit
• the notion of opportunity cost
• motives for becoming an entrepreneur
• government support for enterprise and
entrepreneurs.
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Generating and Protecting Business Ideas
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• sources of business ideas
• the identification of a product or market niche
• franchises
• copyright, patents and trademarks.
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Transforming Resources into Goods and Services
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• inputs, outputs and the nature of the
transformation of resources into finished
products
• adding value.
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Developing Business Plans
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• the purpose and contents of business plans
• sources of information and guidance.
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Conducting Start-up Market Research
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• methods of primary and secondary market
research
• qualitative and quantitative research
• size and types of samples
• factors influencing the choice of sampling
methods.
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Understanding Markets
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• the nature and types of markets
• the importance of demand
• types of market segmentation
• market size, growth and share.
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Choosing the Right Legal Structure for the Business
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• sole traders, partnerships, private limited
companies and public limited companies
• not-for-profit businesses.
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Raising Finance
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• sources of finance available to start businesses
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Locating the Business
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• factors influencing start-up location decisions.
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Employing People
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• types of employees used in small businesses
• using consultants and advisors.
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Financial Planning
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Calculating Costs, Revenues and Profits
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• fixed, variable and total costs
• price, total revenue and profit.
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Using Break-Even Analysis to Make Decisions
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• contribution and contribution per unit
• calculation of break-even output
• construction of break-even charts
• analysing the effects of changing variables on break-even charts.
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Using Cash Flow Forecasting
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• the nature of cash flow
• how to forecast cash flow
• the structure of a cash flow forecast
• why businesses forecast cash flow.
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Setting Budgets
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• income, expenditure and profit budgets
• the process of setting budgets
• problems in setting budgets.
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Assessing Business Start-ups
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• objectives of business start-ups
• strengths and weaknesses of a business idea and/or plan
• why start-ups can be risky
• why start-up businesses may fail.
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Unit 2 - Managing a Business
Finance
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Using Budgets
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• the benefits and drawbacks of using budgets
• the calculation and interpretation of favourable
and adverse variances
• using variance analysis to inform decision making
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Improving Cash Flow
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• causes of cash flow problems
• methods of improving cash flow.
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Measuring and Increasing Profit
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• the calculation and understanding of net profit margins
• the calculation and understanding of return on capital
• methods of improving profits/profitability
• the distinction between cash and profit.
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People in Business
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Improving Organisational Structures
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• key elements of organisational structure
• workforce roles
• how organisational structure affects business performance.
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Measuring the Effectiveness of the Workforce
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• methods of measuring workforce performance.
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Developing an Effective Workforce: Recruitment, Selection, Training
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• the recruitment process
• internal and external recruitment
• selecting the best employees
• how recruitment and selection can improve a workforce
• methods of training.
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Developing and Retaining an Effective Workforce: Motivating Employees
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• using financial methods to motivate employees
• improving job design
• empowering employees
• working in teams
• theories of motivation
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Operations Management
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Making Operational Decisions
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• operational targets
• calculating and managing capacity utilisation
• operational issues dealing with non-standard orders and matching production and demand.
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Developing Effective Operations: Quality
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• the meaning of quality
• the distinction between quality control and
quality assurance
• systems of quality assurance
• quality standards.
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Developing Effective Operations:
Customer Service
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• methods of meeting customer expectations
• monitoring and improving customer service
• the benefits of high levels of customer service.
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Working with Suppliers
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• choosing effective suppliers
• the role that suppliers play in improving
operational performance.
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Using Technology in Operations
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• types of technology in operations management
• issues in introducing and updating technology.
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Marketing and the Competitive Environment
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Effective Marketing
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• the purpose of marketing
• niche and mass marketing.
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Designing an Effective Marketing Mix
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• influences on the marketing mix
• the importance of an integrated marketing mix.
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Using the Marketing Mix: Product
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• influences on the development of new goods and services
• unique selling points (or propositions)
• product portfolio analysis
• product life cycle.
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Using the Marketing Mix: Promotion
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• elements of the promotional mix
• influences on the choice of promotional mix.
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Using the Marketing Mix: Pricing
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• pricing strategies
• pricing tactics
• influences on pricing decisions.
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Using the Marketing Mix: Place
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• choosing appropriate outlets/distributors
• types of distribution channels.
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Marketing and Competitiveness
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• the possible impacts of market conditions and degree of competition
• determinants of competitiveness
• methods of improving competitiveness.
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