in this presentation we cover: What business aims and business objectives are Understand SMART objectives Financial aims and objectives: survival, profit, sales, market share, financial security Non-financial aims and objectives: social objectives, personal satisfaction, challenge, independence and control. Why aims and objectives differ between businesses. Activity

in this presentation we cover: The concept of limited liability: limited and unlimited liability the implications for the business owner(s) of limited and unlimited liability. The types of business ownership for start-ups: sole trader, partnership, private limited company the advantages and disadvantages of each type of business ownership. The option of starting up and running a franchise operation: the advantages and disadvantages of franchising.

in this presentation we cover: The role and importance of a business plan: To identify: the business idea; business aims and objectives; target market (market research); forecast revenue, cost and profit; cash-flow forecast; sources of finance; location; marketing mix. The purpose of planning business activity: The role and importance of a business plan in minimising risk and obtaining finance.

in this presentation we cover: The concept and calculation of: revenue fixed and variable costs total costs profit and loss interest break even level of output margin of safety Interpretation of break even diagrams: the impact of changes in revenue and costs break even level of output margin of safety profit and loss.

in this presentation we cover: What the marketing mix is and the importance of each element: price, product, promotion, place. How the elements of the marketing mix work together: balancing the marketing mix based on the competitive environment The impact of changing consumer needs on the marketing mix The impact of technology on the marketing mix: e-commerce, digital communication.

We will identify and understand customer needs: price quality choice convenience We will learn the importance of identifying and understanding customers needs: