Entrepreneurship and risk, business objectives, and the roles and characteristics of entrepreneurs.
Market types, market research methods, market size and share, and segmentation.
The 4Ps, the product life cycle, pricing strategies, and branding and promotion.
Types of business ownership, limited liability, and stakeholders and their objectives.
Demand and supply for a business, market conditions, and competition.
Production methods, productivity and efficiency, capacity utilisation, and stock control.
Quality control and assurance, total quality management, and lean production.
Internal and external, short- and long-term sources of finance, and choosing the right source.
Fixed and variable costs, revenue and profit, and break-even analysis and the margin of safety.
Cash flow versus profit, cash-flow forecasts, and the income statement and balance sheet.
Profitability and liquidity ratios, and using ratios to assess business performance.
Recruitment and training, motivation theories, and financial and non-financial motivators.
Organisational structures, spans of control, communication, and leadership styles.
Economic, legal, social, technological, environmental and competitive influences on business.
Internal and external growth, economies of scale, strategy tools, and managing change.
Globalisation, multinationals, international trade, and the impact of operating globally.
Payback period, average rate of return (ARR), and net present value (NPV) using discounted cash flow.
Scientific vs intuitive decisions, risk and uncertainty, decision trees, and critical path analysis.
Porter's generic strategies, Porter's five forces, distinctive capabilities, and corporate planning.
Emerging economies, protectionism and trade blocs, global marketing, and the ethics of globalisation.