Welcome to Seneca Revision Notes

1.1.1Business Aims

1.1.2Business Objectives

1.1.3Business Objectives Change Over Time

1.1.4End of Topic Test - Business Aims

1.1.5Diagnostic Misconceptions - Profit

1.2.1Sole Traders & Partnerships

1.2.2Limited Companies

1.2.3Limited Liability

1.2.4Unlimited vs Limited Liability

1.2.5Not For Profit & Franchises

1.2.6Multinational Companies

1.2.7End of Topic Test - Business Ownership

1.2.8Application Questions - Business Ownership

1.2.9Diagnostic Misconceptions - Company vs Business

1.2.10Diagnostic Misconceptions - Owners vs Shareholders

1.3.1Sectors

1.4.1Location

1.5.1Globalisation

1.5.2Exchange Rates

1.6.1Government Objectives

1.6.2The Government & Business Activity

1.6.3Interest Rates

1.6.4Interest Rates - Calculations

1.6.5Diagnostic Misconceptions - Recessions

1.7.1External Factors

1.8.1Measuring Success

1.8.2Reasons for Failure

2.1.1Communication

2.2.1Types of Employment

2.2.2Recruitment Stages

2.2.3Effective Recruitment

2.2.4Legal Controls Over Employment

2.2.5Diagnostic Misconceptions - Internal Recruitment

2.3.1Training

2.4.1Motivation in the Workplace

2.4.2Financial & Non-Financial Methods

2.4.3End of Topic Test - The Workforce

2.4.4Application Questions - The Workforce

2.4.5Diagnostic Misconceptions - Money

2.5.1Organisational Structures

2.5.2Centralised vs. Decentralised Structures

2.5.3Tall & Flat Organisations

2.5.4Functional Areas Within a Business

2.5.5End of Topic Test - Org Structure

3.1.1Internal & External Sources of Finance

3.1.2Factors Affecting Sources of Finance

3.2.1Cash Flow

3.2.2Consequences of Cash Flow Problems

3.2.3Cash Flow - Calculations

3.2.4Solutions to Cash Flow Problems

3.2.5Diagnostic Misconceptions - Cash Flow

3.3.1Costs, Revenue & Profit

3.3.2Profit, Average Unit Cost & Interest

3.3.3Costs - Calculations

3.3.4Revenue - Calculations

3.3.5Break-Even Analysis

3.3.6Profit & Losses - Calculations

3.3.7End of Topic Test - Finance

3.3.8Grade 9 - Finance

3.3.9Diagnostic Misconceptions - Fixed Costs

3.3.10Diagnostic Misconceptions - Break-even

3.4.1Financial Statements

3.4.2Income Statement

3.4.3Understanding Business Performance

3.5.1Business Calculations

3.5.2Gross Profit - Calculations

3.5.3Net Profit - Calculations

3.5.4Business Calculations 2

3.5.5Business Calculations 3

3.5.6Liquidity

4.1.1Market Research

4.1.2Forms of Market Research

4.2.1Customer Needs

4.2.2Satisfying Customer Needs

4.2.3Market

4.2.4The Competitive Environment

4.2.5Market Segmentation

4.2.6Market Mapping - Price vs Quality

4.2.7End of Topic Test - Marketing

4.2.8Application Questions - Marketing

4.2.9Diagnostic Misconceptions - Competition

4.3.1Price

4.3.2Price Penetration

4.3.3Other Forms of Pricing

4.3.4Product Design

4.3.5The Product Life Cycle

4.3.6Extending Existing Products

4.3.7New Products

4.3.8Benefits and Risks of New Products

4.3.9Promotion

4.3.10Public Relations and Sales Promotion

4.3.11Sponsorship & Social Media

4.3.12Product Placements

4.3.13Promotional Mix

4.3.14Place

4.3.15Place 2

4.3.16Place 3

4.3.17M-Commerce

4.3.18Benefits & Drawbacks of M-Commerce

4.3.19End of Topic Test - Marketing Mix

4.3.20Grade 9 - Marketing Mix

4.3.21Diagnostic Misconceptions - Decreasing Price

4.3.22Diagnostic Misconceptions - Advertise vs Promote

4.3.23Diagnostic Misconceptions - Social Media

5.1.1Economies of Scale

5.1.2Diagnostic Misconceptions - Economies of Scale

5.2.1Production Processes

5.2.2Flow and Batch Production

5.2.3Production Efficiency

5.2.4Technology & Production

5.2.5Diagnostic Misconceptions - JIT vs JIC

5.3.1Factors of Production

5.4.1Importance of Quality

5.4.2Identifying Quality

5.4.3Total Quality Management

5.4.4End of Topic Test - Operational Decisions