EDEXCEL GCSE BUSINESS (9-1) KNOWLEDGE BOOK. Student Name: Edexcel GCSE Business Knowledge Book Ed1.indd 1 14/11/ :36

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1 EDEXCEL GCSE BUSINESS (9-) KNOWLEDGE BOOK Student Name: Edexcel GCSE Business Knowledge Book Ed.indd 4//08 6:6

2 Contents THEME - investigating small business. ENTERPRISE AND ENTREPRENEURSHIP. SPOTTING A BUSINESS OPPORTUNITY. PUTTING A BUSINESS IDEA INTO PRACTICE.4 MAKING THE BUSINESS EFFECTIVE.5 UNDERSTANDING EXTERNAL INFLUENCES ON BUSINESS THEME - GROWING THE BUSINESS. GROWING THE BUSINESS. MAKING MARKETING DECISIONS. MAKING OPERATIONAL DECISIONS.4 MAKING FINANCIAL DECISIONS.5 MAKING HUMAN RESOURCE DECISIONS About this book The tutoru Edexcel GCSE Business (9-) Knowledge Book provides a comprehensive series of structured, step by step activities, specifically designed to equip students with the essential knowledge that they need to be successful in their Edexcel GCSE Business exams. By working systematically through the book, students will be able to identify gaps in their own knowledge, whilst building awareness of specialist terminology and concepts which are crucial to exam success. This resource has been developed in conjunction with the Edexcel GCSE Business (9-) specification and accompanying Getting Started guide. Edexcel GCSE Business Knowledge Book Ed.indd 4//08 6:6

3 THEME INVESTIGATING SMALL BUSINESS THEME COVERS: Topic. Enterprise and entrepreneurship Topic. Spotting a business opportunity Topic. Putting a business idea into practice Topic.4 Making the business effective Topic.5 Understanding external influences on business TOPIC. ENTERPRISE AND ENTREPRENEURSHIP 0 GIVE ME THREE: Reasons why business ideas come about: 0 IDENTIFY: Two ways in which new business ideas come about: 0 WHAT IS MEANT BY? Write a definition for the following key terms: RISK REWARD 4 Edexcel GCSE Business (9-) Knowledge Book Not to be photocopied Edexcel GCSE Business Knowledge Book Ed.indd 4 4//08 6:6

4 7 WHAT S THE DIFFERENCE? What s the difference between: FIXED AND VARIABLE COSTS 8 GIVE ME THREE: Fixed costs: Variable costs: 9 WHAT S THE FORMULA? Write the formula for calculating: REVENUE TOTAL COSTS Edexcel GCSE Business Knowledge Book Ed.indd 4//08 6:6

5 PARTNERSHIP BENEFITS DRAWBACKS PRIVATE LIMITED COMPANY BENEFITS DRAWBACKS 9 WHAT IS MEANT BY? Write a definition for the following key terms: FRANCHISING FRANCHISEE FRANCHISOR 0 BENEFITS AND DRAWBACKS: Identify two benefits and two drawbacks of franchising: BENEFITS DRAWBACKS 8 Edexcel GCSE Business (9-) Knowledge Book Not to be photocopied Edexcel GCSE Business Knowledge Book Ed.indd 8 4//08 6:6

6 IDENTIFY AND DESCRIBE: Identify the four elements of the marketing mix and describe why each element is important: IDENTIFY DESCRIBE GIVE ME THREE: Factors influencing the location of a business: TELL ME: Why the marketing mix needs to be balanced based on the competitive environment: 9 Edexcel GCSE Business Knowledge Book Ed.indd 9 4//08 6:6

7 THEME GROWING THE BUSINESS THEME COVERS: Topic. Growing the Business Topic. Making Marketing Decisions Topic. Making Operational Decisions Topic.4 Making Financial Decisions Topic.5 Making Human Resource Decisions TOPIC. GROWING THE BUSINESS 4 5 WHAT S THE DIFFERENCE? What s the difference between: INTERNAL (ORGANIC) AND EXTERNAL (INORGANIC) GROWTH A MERGER AND A TAKEOVER 4 6 BENEFITS AND DRAWBACKS: Identify two benefits and two drawbacks of internal (organic) and external (inorganic) growth: INTERNAL (ORGANIC) EXTERNAL (INORGANIC) BENEFITS DRAWBACKS 6 Edexcel GCSE Business (9-) Knowledge Book Not to be photocopied Edexcel GCSE Business Knowledge Book Ed.indd 6 4//08 6:6

8 4 7 GIVE ME THREE: Methods of internal (organic) growth: 4 8 WHAT IS MEANT BY? Write a definition for the following key term: PUBLIC LIMITED COMPANY 4 9 BENEFITS AND DRAWBACKS: Identify one benefit and one drawback of the following sources of finance for a growing and established business: BENEFIT DRAWBACK RETAINED PROFIT SELLING ASSETS LOAN CAPITAL SHARE CAPITAL STOCK MARKET FLOTATION 7 Edexcel GCSE Business Knowledge Book Ed.indd 7 4//08 6:6