Learning Objectives Students should be able to: Understand the consequences to business of quality issues. Analyse why a business may implement Total quality management (TQM). Understand the costs and benefits of maintaining quality

Learning Objectives Students should be able to: Understand the term and formula for ARR Understand why ARR is a useful tool for businesses to inform decision making. Calculate ARR in a given situation then recommend an appropriate action.

Learning Objectives Students should be able to understand: Difference between variable, fixed and total costs are. The concepts of revenue, costs and profit/loss. The main investment projects that businesses undertake i.e. Investment in new machinery, buildings & vehicles Understand areas of strength or weakness to support revision.

Learning Objectives: Students should be able to: Understand the meaning of the term break-even output and interpret break-even charts Identify the break-even level of output and margin of safety from a break-even chart Evaluate the value of using break-even analysis to a business.

Lesson Objectives: Students should be able to understand: Gross Profit Margin and how to calculate it. Net Profit Margin and how to calculate it. Be able to apply both formulas to a business to aid decision making.

This resource includes the following: 3.3.1 - Production Processes 3.3.2 - The role of procurement / JIT worksheet / Supplier selection worksheet 3.3.3 - The concept of Quality 3.3.4 - Good customer services