Why businesses exist, the role of the entrepreneur, risk and reward, and business objectives.
Sole traders, partnerships, Ltd and plc companies, franchises and limited vs unlimited liability.
Stakeholders and their objectives, location, methods of growth and economies of scale.
Primary and secondary research, quantitative and qualitative data, segmentation and market mapping.
Product life cycle, pricing strategies, distribution and promotion working together.
Internal and external, short and long term sources of finance and how to choose between them.
Fixed and variable costs, revenue and profit, and break-even analysis with charts.
Cash vs profit, cash-flow forecasts, the income statement and profit margins.
Organisational structures, recruitment and selection, and methods of training.
Financial and non-financial motivation, and Maslow's and Herzberg's theories.
Job, batch and flow production, stock control, suppliers and managing quality.
Economic factors, government and law, ethics and CSR, and globalisation.