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Eduqas A-Level Business A510QS
Enterprise, Business Plans and Location
Topic overviewEnterprise, entrepreneurs and SMEsNeeds, wants and spotting a business opportunityThe role of the entrepreneur in setting up and running a businessFinancial and non-financial motives of entrepreneursCharacteristics and skills of entrepreneursEntrepreneurs, SMEs and the sectors of the UK economyStakeholders and their interestsBusiness plans and sources of adviceChoosing a business location
Markets, Demand and Market Research
Topic overviewMarkets and competitionTypes of marketMarket size, market share and market trendsMarket segmentationMarket structures and degrees of competitionConsumer protectionDemand and the factors that shift itSupply and the factors that shift itEquilibrium price and shifts in the marketPrice and income elasticity of demandPrimary and secondary market researchQualitative and quantitative dataSampling and bias in market research
Business Structure and Sources of Finance
Topic overviewThe private sector and the public sectorAims of private sector businessesSole traders and partnershipsPrivate and public limited companiesUnlimited and limited liabilityChoosing a legal structureNot-for-profit organisationsInternal and personal sources of start-up financeBorrowing, equity and grants for a small business
Revenue, Costs and Break-Even
Topic overviewRevenue, costs and profitFixed, variable and semi-variable costsDirect costs, indirect costs and overheadsCalculating revenue, costs and profitContribution and its usesCalculating the break-even pointBreak-even charts and the margin of safetyWhat-if analysis of changes in costs and revenueThe usefulness and limits of break-even
Marketing and the Marketing Mix
Topic overviewThe purpose of marketing and market orientationThe marketing mix and the four PsProduct, brand, USP and differentiationThe product life cycleExtension strategiesThe product life cycle and cash flowThe Boston matrixPricing strategiesChoosing the right pricing strategyPromotion above the line and below the linePlace and distribution channelsThe marketing mix in different contextsNew technology in marketing
Financial Planning and Accounts
Topic overviewThe role of the finance departmentBudgets and the purpose of budgetingThe benefits and drawbacks of budgetsInternal sources of financeExternal sources of financeChoosing the right source of financeCash flow and cash flow forecastsConstructing and interpreting a cash flow forecastCash flow problems and how to improve cash flowThe income statement, gross profit and net profitGross and net profit margins
People in Organisations
Topic overviewThe role of the human resource departmentThe flexible workforceNew technology and changing working patternsWorkforce planningThe recruitment process, job analysis and job descriptionsInternal and external recruitmentMethods of selecting employeesMethods of trainingThe value of training to a businessAppraisal and its methodsMeasuring workforce performanceOrganisational structures and the chain of commandDelegation, empowerment and delayering
Motivation, Management and Employee Relations
Topic overviewMotivation and the benefits of a motivated workforceTaylor and scientific managementMayo and the Hawthorne studiesMaslow's hierarchy of needsHerzberg's two factor theoryExpectancy theories of Vroom, Porter and LawlerFinancial methods of motivationNon-financial methods of motivationManagement, management by objectives and Theory X and YLeadership and leadership stylesLeadership theories and choosing a styleEmployment rights, contracts and equal opportunitiesTrade unions, industrial conflict and dispute resolution
Operations Management
Topic overviewOperations management and added valueJob, batch and flow productionProductivity and how to raise itCapacity utilisationTechnology in operations: IT, CAD, CAM and roboticsLean production, kaizen and just-in-timeQuality control and quality assuranceTotal quality managementPurchasing, suppliers and methods of stock controlStock control diagrams and stock levelsInnovation, research and developmentInternal and external economies of scaleDiseconomies of scale and the survival of small firms
Data and Market Analysis
Topic overviewPresenting and interpreting business dataIndex numbers and comparing figures over timeCalculating price elasticity of demandInterpreting price elasticity and its effect on revenueIncome elasticity of demandSales forecasting and the reliability of a forecastMoving averages and time-series analysisCorrelation, scatter graphs and extrapolationQualitative forecasting techniques
Analysing Business Performance
Topic overviewBudget variances and how to calculate themAnalysing and evaluating budget variancesThe balance sheet and how it is constructedWorking capital, capital employed and depreciationLiquidity ratios: the current ratio and the acid testReturn on capital employed and gearingComparing accounts over time and between businessesEvaluating the financial position of a businessNon-financial measures of performance and vision statements
Aims, Objectives and Strategy
Topic overviewAims, objectives and SMART targetsMission and vision statementsStrategy, tactics and corporate plansSWOT analysisPorter's Five ForcesThe Ansoff matrixOrganic growthExternal growth: mergers and takeoversHorizontal and vertical integrationFranchising as a method of growthRationalisation and relocationOutsourcing production
Decision-Making and Investment Appraisal
Topic overviewTypes of business decisionScientific and intuitive decision-makingDecision trees: constructing and calculatingEvaluating decision tree analysisCritical path analysis: building the networkInterpreting and evaluating critical path analysisCost benefit analysisPayback and the average rate of returnDiscounted cash flow and net present valueChoosing between investmentsSpecial orders
Change and Risk Management
Topic overviewCauses of change in a businessInternal and external causes of changePlanned and unplanned changeEffects of change on a businessManaging change and Storey's four approachesResistance to change and how it is overcomeEvaluating change and its impact on stakeholdersTypes of risk a business facesRisk assessment, prevention and insuranceContingency planning and crisis management
PEST Factors and the External Environment
Topic overviewPolitical factors and the role of governmentTaxation and subsidiesFiscal and monetary policyEconomic growth, GDP and the business cycleInflation and how it is measuredInterest rates and exchange ratesUnemploymentDemographic changeSocial and cultural changeTechnological factors and automation
Ethical, Legal and Environmental Factors
Topic overviewBusiness ethics and ethical objectivesEthical issues facing a businessCorporate social responsibilityEthics, profitability and stakeholder viewsCompany law, intellectual property and pay lawEmployment, discrimination and health and safety lawConsumer, competition and data protection lawEnvironmental costs of business activityControlling environmental costs and business responses
International Trade, Globalisation and the European Union
Topic overviewInternational trade and why it happensFree trade and protectionismTrading blocs and the single marketEntering new international marketsGlobalisation and its causesThe effects of globalisation on businessStrategies for global growthGlocalisation and adapting to local marketsMultinational companiesThe European Union and the single European marketThe euro, the Eurozone and membership
Ethical, Legal and Environmental Factors
- 9 subtopics
- 27 things to know
- Component 3
What Ethical, Legal and Environmental Factors covers
Ethical, Legal and Environmental Factors is examined in Component 3, Business in a Changing World. It covers business ethics and ethical objectives, ethical issues facing a business, corporate social responsibility, ethics, profitability and stakeholder views, company law, intellectual property and pay law, employment, discrimination and health and safety law, consumer, competition and data protection law, environmental costs of business activity and controlling environmental costs and business responses.
The 9 subtopics
Each one has its own page.
- Business ethics and ethical objectivesBusiness ethics, what is legal and what is ethical and ethical objective.Open →
- Ethical issues facing a businessFair trade, animal rights as an ethical issue in business and tax avoidance.Open →
- Corporate social responsibilityCorporate social responsibility, triple bottom line and social audit.Open →
- Ethics, profitability and stakeholder viewsWhether acting ethically costs a business money or earns it, the arguments on each side, and why different stakeholders answer the question differently.Open →
- Company law, intellectual property and pay lawMain source of company law in the United Kingdom, main duties of a company director and intellectual property.Open →
- Employment, discrimination and health and safety lawThe Acts that govern hiring, dismissal, equal treatment and a safe workplace, what each requires of an employer, and what it costs to comply.Open →
- Consumer, competition and data protection lawThe standard goods must meet, the prohibition on distorting a market, and the duties that attach to holding personal data — with the rights an individual holds in return.Open →
- Environmental costs of business activityEnvironmental cost of business activity, business activity destroying the natural environment and polluter pays principle.Open →
- Controlling environmental costs and business responsesPressure group and environmental audit.Open →
What you need to know
Answer each one before you reveal it.
Your recallNot started
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What duties govern personal data, and what rights does an individual hold over it?
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What is the National Living Wage?
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What do the Working Time Regulations 1998 require?
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Name four areas in which ethical issues commonly arise for a business.
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What is meant by corporate social responsibility?
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Explain the possible conflict between ethics and profitability.
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What is meant by an environmental cost of business activity?
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Name three ways in which the environmental costs of business can be controlled.
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What is meant by business ethics?
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What ethical issues arise from a business's treatment of its workers?
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Give three examples of corporate social responsibility in practice.
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Give two ways in which ethical behaviour raises a business's costs.
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What is the main source of company law in the United Kingdom?
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Which areas of business activity does employment law regulate?
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Why does the law protect consumers rather than leaving the matter to the market?
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What is meant by an externality?
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How does government use taxation to control environmental damage?
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Distinguish between what is legal and what is ethical.
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What is meant by a sweatshop, and why is it an ethical concern?
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What are the four levels of Carroll's pyramid of corporate social responsibility?
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Give two ways in which ethical behaviour can raise a business's revenue.
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What must a business do to be formed as a company?
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Why does employment law set standards that a contract cannot reduce?
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Which Act sets out the main rights of a consumer buying goods in the United Kingdom?
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How does business activity cause air pollution?
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How does government use regulation to control environmental damage?
Take Ethical, Legal and Environmental Factors further
The same content, four other ways.
Questions from this topic
Each one with the model answer underneath.
- 1
What is meant by business ethics?
Model answer
Business ethics is the study of what is morally right and wrong in the conduct of a business. Ethical decisions go beyond what the law strictly requires.
- 2
Distinguish between what is legal and what is ethical.
Model answer
A legal action is one permitted by the law of the country concerned. An ethical action is one judged morally right, whether or not the law demands it.
- 3
What is meant by an ethical objective?
Model answer
An ethical objective is a target a business sets itself on grounds of principle rather than profit. Paying every supplier within thirty days is a common example.
- 4
Give three examples of ethical objectives a business might set.
Model answer
A business might commit to paying all its staff a genuine living wage. Sourcing only from audited suppliers and refusing to test on animals are two further examples.
- 5
What is an ethical code of practice?
Model answer
A code of practice is a written statement of the standards a business expects of its employees. The code covers matters such as gifts, bribery, conflicts of interest and confidentiality.
- 6
Why do businesses publish ethical codes?
Model answer
A published code tells employees, customers and investors what standards the firm claims to hold. The code also gives managers a reference point when a difficult decision arises.
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Ethical, Legal and Environmental Factors revision questions
- What does Ethical, Legal and Environmental Factors cover in Eduqas A-Level Business?
- 9 subtopics: business ethics and ethical objectives, ethical issues facing a business, corporate social responsibility, ethics, profitability and stakeholder views, company law, intellectual property and pay law, employment, discrimination and health and safety law, consumer, competition and data protection law, environmental costs of business activity and controlling environmental costs and business responses. Each one has its own page with questions and model answers.
- How is Ethical, Legal and Environmental Factors organised?
- By the Eduqas A510QS specification, subtopic by subtopic, so it matches the order you are taught it in.
Every question in Ethical, Legal and Environmental Factors, on a schedule.
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