Contracts

Contracts of Employment

A contract of employment is a legal agreement between a business and an employee. It contains information on the pay of the employee, their roles, the start and end date of their employment and the hours they will work. It also gives information on sick leave, holiday pay and maternity or paternity leave. There are different types of employment (and contracts):

Part-time

A part time contract is a form of employment where people work less hours per week than people with a full-time job.
These employees usually work in shifts and usually work under 30 hours per week.
Part-time employment contracts can be better for both businesses and employees because they offer more flexibility. If the business is only busy at certain times of the week or certain months in the year then part-time contracts can be helpful.

Full-time

A full-time contract is a contract where the employee will work a minimum number of hours. This number is defined by the contract.
Full-time employment contracts give businesses more control over the hours that employees work. Employees work a minimum number of hours each week and this gives businesses and employees certainty.
For employees, although part time contracts offer greater flexibility, full time contracts offer certain benefits that are not typically offered by part time contracts.

Zero-hour contracts

Zero-hour contracts are contracts where a business does not have to give a person any work at all and the employee doesn’t have to accept any work offered to them.
They are beneficial for businesses because they provide the maximum amount of flexibility. This means they are less likely to waste money on unnecessary labour costs.
However, they can be bad for employee motivation because the employees won’t feel a high level of commitment to a company.

The Value of Outsourcing

Outsourcing is when a business uses another business to make part of its product or provide part of its service.

Advantages of outsourcing

Outsourcing can provide cost savings because a third-party business may be able to create or produce a product or service at a lower cost than the original business.

Disadvantages of outsourcing

Outsourcing can lead to quality problems if the business which is outsourced to does not uphold the same quality standards.
The business may lose its influence on quality control.

1Exploring Business

2Marketing Campaigns

2.1Marketing

2.1.1Setting Marketing Objectives

2.1.2Customer Needs

2.1.3The Market

2.1.4Competition & The Market

2.1.5Consumer Behaviour

2.1.6Market Research

2.1.7Forms of Market Research

2.1.8Market Segmentation

2.1.9Cultural & Social Factors in Marketing

2.1.10Promotional Decisions 3

2.1.11Pricing Strategies

2.2Marketing Mix

2.2.1Marketing Mix

2.2.2Product Life Cycle

2.2.3Pricing Decisions & Price Skimming

2.2.4Pricing Decisions & Price Penetration

2.2.5Promotional Decisions

2.2.6Promotional Decisions 2

2.2.7Promotional Decisions 3

2.2.8Market Mapping

3Business Finance

3.1Sources of Finance

3.1.1Internal Finance

3.1.2External Finance

3.1.3External Finance 2

3.1.4Sources of Business Finance

3.2Financial Planning

3.2.1Revenue

3.2.2Costs

3.2.3Cash & Cash Flow

3.2.4Cash & Cash Flow 2

3.2.5Break-Even Analysis

3.2.6Profits

3.3Financial Statements

3.3.1Balance Sheets

3.3.2Income Statements

3.3.3Liquidity

4International Business

4.1Globalisation

4.1.1Growing Economies

4.1.2Specialisation & Trade

4.2International Business

4.2.1Internationalisation

4.2.2International Trade

4.2.3MNCS

4.2.4Conditions that Prompt Trade

4.2.5Assessment of a Country

4.3International Economic Environment

4.3.1Globalisation

4.3.2Factors Contributing to Globalisation

4.3.3Protectionism

4.3.4The EU & the WTO

4.3.5Trading Blocs

4.4Factors Affecting International Business

4.4.1Global Competitiveness

4.4.2Ethics of Global Business

4.4.3Controlling MNCs

4.4.4Cultural & Social Factors in Marketing

5Principles of Management

5.1Management & Leadership

5.1.1Managers

5.1.2Management Theories

5.1.3Managing Organisational Culture

5.1.4Management Style

5.2Theories of Motivation

5.2.1Motivating & Engaging Employees

5.2.2Taylor's Theory

5.2.3Mayo's Theory

5.2.4Maslow's Theory

5.2.5Herzberg's Theory

5.3Managing Change

5.3.1Change

5.3.2Key Factors in Change

5.3.3Scenario Planning

5.3.4Managing Change

5.3.5Managing Strategic Implementation

6Business Decision Making

6.1Business Principles & Practices

6.1.1Influences in External Environments

6.1.2Product Decisions

6.1.3Competitive Environment

6.1.4Corporate Strategy

6.1.5Quantitative Sales Forecasting

6.1.6Legislation

6.2Quality Management

6.2.1Importance of Quality

6.2.2Measuring Quality

6.2.3Total Quality Management

6.2.4Evaluating TQM

6.3Human Resources

6.3.1Contracts

6.3.2Recruitment

6.3.3Training a Workforce

6.4Documents & Business Decisions

6.4.1Sales Forecasts

6.4.2Managing Strategic Implementation

6.4.3Problems with Strategy

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