A level Business

Business objectives o Measurement and importance of profit o Different forms of business; benefits and drawbacks o Role of shareholders o Influence on share price / significance of share price changes o Impact of the external environment on costs and demand

o Types of management and leadership styles; Blake Mouton Tannenbaum Schmidt o Scientific decision making o Decision trees; understanding, interpretation and calculation o Opportunity cost o Influences on decision making o Stakeholders; power and interest

o Operational objectives o Adding value o Importance of efficiency and labour productivity o Use of technology to improve operational efficiency o Operations data; labour productivity, unit costs, capacity & capacity utilisation o Importance of capacity and capacity utilisation o Lean production and Just in Time o Importance of quality o Consequences of poor quality o Quality assurance o Flexibility and mass customisation o Methods of matching supply and demand o Inventory control o Inventory co