This unit enables students to develop an understanding of raising and managing finance, and measuring business performance. It outlines the importance of using resources efficiently within a business to ensure that goods or services can be delivered effectively and efficiently, and to a high quality. Students also consider the external influences that have an impact on businesses, including economic and legal factors.
Unit 5: Marketing and promotion
5.1 Role and function of marketing and promotion
5.2 Market segmentation and targeting
5.3 Product as part of the marketing mix
5.4 Price as part of the marketing mix
5.5 Place as part of the marketing mix
5.6 Promotion as part of the marketing mix
Unit 3: Customer care and working procedures
3.1 Deal with customers and colleagues – “the moment of truth”
3.2 Identify the essential personal skills required when working in the travel and tourism industry
3.3 Follow basic procedures when handling customer enquiries, making reservations and payments
3.4 Use reference sources to obtain information
3.5 Explore the presentation and promotion of tourist facilities
Growing economies
International trade and business growth
Factors contributing to increased globalisation
Protectionism a) Reasons for protectionism.
Trading blocs
1 Production, productivity and efficiency
2 Capacity Utilisation
3 Inventory control a) Interpretation of inventory control diagram.
4 Quality Management