Key term
CCEA AS-Level Business 3210
Enterprise and Entrepreneurship
The Central Purpose of Business Activity
Forms of Business Ownership
Stakeholder Groups
Markets and Market Forces
Quality Management
Topic overviewWhat is quality?Total quality management, quality assurance and quality control definedThe advantages and disadvantages of TQMThe advantages and disadvantages of quality assurance and quality controlISO 9000 certification and the quality policyQuality control and quality assurance reviewedTQM, control and assurance comparedThe approaches to quality, and the case for and against TQMQuality control and quality assurance weighedISO 9000 certification, and how quality is measuredQuality as a dimension of competitiveness
Productivity and Investment
Organisational Design
Topic overviewHierarchy, span of control, chain of command and delegationCentralised, decentralised, tall, flat and matrix structuresCentralisation versus decentralisation, delayering, and the effects of designCentralisation and decentralisation weighedTall and flat structures weighedOutsourcingCentralisation, structure and outsourcing
Investing in People
Topic overviewSuccession planning, skills audits and the factors behind people investmentThe benefits and drawbacks of investing in peopleMethods of recruitment and selectionTraining and appraisal methodsOnline recruitment and selectionOnline training and appraisalInduction training: content, benefits and drawbacksOn-the-job training: methods, advantages and drawbacksOff-the-job training: methods, advantages and drawbacksContinuing professional developmentChoosing a training methodInternal and external methods of recruitmentInternal versus external recruitment weighedThe stages of selection, and the methods usedPsychometric testing: what it measures and what it missesPsychometric testingThe purpose of appraisal, and its benefits and drawbacksTechnology in the appraisal processOnline recruitment and selection technologyOnline training and appraisal technologyThe benefits and drawbacks of online HR processes
Motivation
Topic overviewTaylor's scientific management and Maslow's hierarchyHerzberg's two-factor theory, and the limits of each theoryTaylor and Maslow reviewedHerzberg's hygiene factors and motivators in detailMonetary and non-monetary methods of motivationLeadership styles, and choosing a method of motivationThe monetary methods of paymentThe monetary methods weighed, and calculating commissionJob design, empowerment, team working and flexible workingRecognition and development, and how non-monetary methods link to theory
Principles of Management and Leadership
Market Size, Share and Growth
The Degree of Competition in a Market
Market Research
The Marketing Mix
Elasticity of Demand
The Product Life Cycle
Market Planning and Strategy
E-Business and E-Commerce
Sources of Finance
Break-Even Analysis
Cash Flow
Cash Flow Forecasts
Budgeting
Forms of Business Ownership
- 5 subtopics
- 15 things to know
- Unit AS 1
What Forms of Business Ownership covers
Forms of business ownership is examined in Unit AS 1, Introduction to Business. It covers sole traders, partnerships and limited companies and franchises, the third sector, and the divorce of ownership from control.
Where it is assessed
Unit AS 1
Introduction to Business, written examination, 20% of A level.
Check the CCEA specification ↗The 5 subtopics
Each one has its own page. CCEA AS Business students sit this topic in the first year.
- Sole traders, partnerships and limited companiesPartnership as a form of business ownership, partnership agreement (deed of partnership) and joint and several liability.Open →
- Franchises, the third sector, and the divorce of ownership from controlFranchise as a business model, perpetual succession in the context of a limited company and divorce of ownership and control in larger companies.Open →
- Sole traders and partnershipsSole trader, complete control and shared decision-making in a partnership.Open →
- Limited companies and franchisesLimited company, requirement for limited companies regarding annual accounts and reduced independence for a franchisee.Open →
- Social enterprise, liability, and business use of social mediaSocial enterprise and unlimited liability.Open →
What you need to know
Answer each one before you reveal it.
Your recallNot started
Key term
What is a sole trader, and what are the features of trading that way?
Key term
What is a sole trader?
Key term
What is a limited company?
Key term
How does a private limited company (Ltd) differ from a public limited company in terms of share sales?
Key term
What is a social enterprise?
Key term
What does complete control mean for a sole trader?
Key term
What are the key features of a public limited company (PLC) regarding share capital?
Key term
What characterises the charitable sector?
Key term
How much formality does setting up as a sole trader take, and what is a partnership, its deed and its liability?
Key term
In what sense is a limited company separate from its owners, and how do Ltd and PLC shares differ?
Key term
Define a franchise as a business model.
Key term
What benefits does a franchisee gain from operating a franchise?
Key term
Who receives the profits of a sole trader business after tax has been paid?
Key term
What defines the charitable sector?
Take Forms of Business Ownership further
The same content, four other ways.
Commonly confused
Pairs that lose marks when they are blurred together.
Unlimited liability vs Limited liability
Unlimited liability: personal assets can be claimed to settle what the firm owes. Limited liability: loss is capped at the amount put into shares.
Questions from this topic
Each one with the model answer underneath.
- 1
Who receives the profits of a sole trader business after tax has been paid?
Model answer
The sole trader retains all profits after tax.
- 2
What happens to losses in a sole trader business?
Model answer
The sole trader bears all losses personally.
- 3
What legal formalities are required to set up as a sole trader?
Model answer
Minimal legal formalities are required, and there is no requirement to publish accounts.
- 4
Define a partnership as a form of business ownership.
Model answer
A business owned by two or more people who share responsibility, profits and unlimited liability.
- 5
What is a partnership agreement (deed of partnership)?
Model answer
A document that sets out the terms of the partnership including profit sharing, responsibilities and procedures for disputes.
- 6
What does joint and several liability mean for partners in an ordinary partnership?
Model answer
Each partner can be held personally responsible for all partnership debts, not just their share.
What is inside Levo
Six ways to work the same material.
Forms of Business Ownership revision questions
- Is Forms of Business Ownership examined at AS in CCEA Business?
- Yes. It sits in Unit AS 1, which you take in the first year, so it is on the AS paper as well as counting towards the full A level.
- What does Forms of Business Ownership cover in CCEA AS-Level Business?
- 5 subtopics: sole traders, partnerships and limited companies, franchises, the third sector, and the divorce of ownership from control, sole traders and partnerships, limited companies and franchises and social enterprise, liability, and business use of social media. Each one has its own page with questions and model answers.
- How is Forms of Business Ownership organised?
- By the CCEA 3210 specification, subtopic by subtopic, so it matches the order you are taught it in.
Every question in Forms of Business Ownership, on a schedule.
Attempt a question from memory, write the correct version, then attempt it again. Levo records the jump between your first attempt and your last, and brings each question back on the day you are due to forget it.
Or £46 a year, about £3.83 a month. Cancel anytime.