7.1 Business objectives Topic Different enterprises have different aims and objectives 7.2 Action plans Topic The purpose and importance of action plans Contents of action plans Methods of monitoring action plans The importance of updating action plans 7.3 Business plans Topic The purpose and importance of business plans Contents of business plans Methods of monitoring business plans Reasons for updating business plans

9.1 Sources of help and support Topic Formal sources and the assistance they offer Informal sources and the assistance they offer Suitability of different sources of help and support for the enterprise

1.2 - The Market 1.2.1 - Demand 1.2.2- Supply 1.2.3 - Markets 1.2.4 - Price elasticity of demand 1.2.5 - Income elasticity of demand

4.1 Opportunities Topic How opportunities arise, including: • changing needs or wants for a product or service • change in the ability to meet needs or wants • advances in technology • changes in government policy. 4.2 Risk Topic Risks involved in enterprise Identify risks Analyse the implications of each risk Decide if the risk is worth taking or not Plan how to manage the risks Attitudes to risk 4.3 Legal obligations Why laws and regulations to protect stakeholders are needed in the areas of: • employment • production • marketing and selling • finance. The impact of laws and regulations on all stakeholders in these areas 4.4 Ethical considerations Topic How an enterprise may have an impact on communities and society Ethical considerations within enterprise (i.e. choosing to run an enterprise following moral values and beliefs) The impact of ethical considerations on the operation of an enterprise

8.1 The purpose of marketing Topic Marketing to achieve enterprise aims Marketing from the perspective of customers 8.2 Market research Topic Methods of identifying potential customers The effectiveness of methods for different enterprises 8.3 Customer retention Topic The reasons for retaining customers Methods of measuring customer satisfaction and retention Methods of retaining existing customers 8.4 Marketing communications Topic Methods of marketing communication to reach intended customers Selecting appropriate methods for different enterprises

6.1 Sources of finance Topic Advantages and disadvantages of different sources of: • start-up funding • funding for continuing trade and expansion 6.2 The concept of trade credit Advantages and disadvantages of trade credit 6.3 Financial terms Cash flow forecast Break-even Income statement 6.4 Financial records The purpose and importance of keeping accurate financial records

1.1 Meeting customer needs 1.1.1 - The market 1.1.2 - Market research 1.1.3 - Market positioning

1.4 - Managing people 1.4.1 - Approaches to staffing 1.4.2 - Recruitment, selection and training 1.4.3 - Organisational Design 1.4.4 - Motivation in theory and practice 1.4.5 -Leadership

1.5 Entrepreneurs and leaders 1.5.1 - Role of an entrepreneur 1.5.2 - Entrepreneurial motives and characteristics 1.5.3 - Business objectives 1.5.4 - Forms of business 1.5.5 - Business choices 1.5.6 - Moving from entrepreneur to leader

2.1 - Raising finance 2.1.1 - Internal finance 2.1.2 - External finance 2.1.3 - Liability 2.1.4 - Planning

1.3 Marketing mix and strategy 1.3.1 - Product/service design 1.3.2 - Branding and promotion 1.3.3 - Pricing strategies 1.3.4 - Distribution 1.3.5 - Marketing strategy

2.4 - Resource Management 2.4.1 - Production, productivity and efficiency 2.4.2 - Capacity utilisation 2.4.3 - Stock control 2.4.4 - Quality management

2.5 External influences 2.5.1 - Economic influences 2.5.2 - Legislation 2.5.3 - The competitive environment

2.3 Managing finance 2.3.1 - Profit 2.3.2 - Liquidity 2.3.3 - Business failure

2.2 Financial planning 2.2.1 - Sales forecasting 2.2.2 - Sales, revenue and costs 2.2.3 - Break-even 2.2.4 - Budgets

The market 1 Demand 2 Supply 3 Markets 4 Price elasticity of demand (PED) 5 Income elasticity of demand (YED)

Marketing mix and strategy 1 Marketing objectives and strategy 2 Product/service design 3 Promotion and branding 4 Pricing strategies 5 Distribution

Meeting customer needs 1 The market 2 Market research 3 Market positioning

1 Economic Influences 2 Legislation 3 The competitive environment

1 Profit 2 Liquidity 3 Business failure