
BTEC First Business Student Book
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Content
- Cover
- Contents
- About this book
- How to use this book
- Study skills
- Unit 1: Enterprise in the Business World
- A1: Finding information
- Sources of information
- Reliability of sources
- A2: Factors to consider in the current business environment
- National factors
- Local factors
- Impact of factors
- A3: Trends affecting business
- Social trends
- Technology trends
- Environmental trends
- Ethical trends
- A4: Size of business and type
- Types of business
- B1: How business ideas can be successful
- Successful business ideas
- B2: Business ideas
- Researching the market
- Selecting a product or service
- Targeting customers
- Meet the needs of your target customer
- Benefits versus features
- B3: Assessing the suitability of a business idea
- The resources required
- Selecting the most appropriate idea
- Likelihood of success or failure
- Identification of major barriers to entry
- B4: Producing an initial plan for a business idea
- What is a rationale?
- Supporting evidence
- C1: Choice of business format
- Social enterprises
- C2: Sources of help and support in developing a new business
- Sources of help
- Support networks
- C3: Business model
- Unit 2: Finance for Business
- A1: Understand the costs involved in business
- Understand and identify the costs of a business
- Understand, define and identify different types of running costs
- A2: Understand how businesses make a profit
- Understanding revenue
- Understanding expenditure
- Understanding profit
- B 1: Understand the planning tools businesses use to predict when they will start making a profit
- Calculating break-even point using a formula
- Break-even charts
- Present break-even information graphically
- Analyse the effect on the break-evenpoint if the figures change
- The importance of break-even analysis and risks of ignoring it
- B2: Understand the tools businesses use to plan for success
- The purpose of budgeting
- Budgeting and budgetary control
- Cash flow forecasting
- The purpose of cash flow forecasting
- Cash inflows and outflows
- The purpose of a cash flow forecast
- Impact of timings of inflows and outflows
- The benefits of cash flow forecasts and risks of not completing them
- Completing and analysing a cash flow forecast
- C1: Understand how businesses measure success
- Making a profit
- Looking at financial statements
- Income statement (profit and loss account)
- Statement of financial position (balance sheet)
- Preparing a statement of financial position
- C2: Understand how businesses can be more successful
- Identify ways in which a business can increase profits
- Analyse financial statements and suggest actions to take
- Unit 3: Promoting a Brand
- A1: The importance of branding to businesses
- What is a brand?
- Why businesses use branding
- Types of branding
- Adding value
- Benefits of successful branding
- Unsuccessful branding
- A2: Promotion in businesses
- Why businesses need to promote themselves
- Activities used in the marketing mix
- Benefits of promotion to businesses
- A3: Elements of the promotional mix and their purposes
- Advertising
- Sales promotion
- Personal selling
- Public relations activities
- Direct marketing
- A4: Promotional activities in business
- Types of market
- Market segmentation
- The use of promotional activities in business
- The AIDA model
- B1: Branding methods and techniques
- Planning ideas for a brand for a business
- B2: Promoting a brand
- Promoting a brand image
- Planning a promotional campaign
- Unit 4: Principles of Customer Service
- A1, A2 & A3: Customer service in business
- The meaning of customer service
- Different customer service roles in a business
- The different types of customer service businesses have
- A4 & A5: Providing customer service
- Customer satisfaction
- Consistent and reliable customer service
- A6 & A7: Good customer service and customer expectations
- The effect of good customer service
- Different ways of exceeding customer expectations
- A8: Providing effective customer service
- Organisational procedures
- The purpose of organisational procedures
- A9: Customer service requirements
- Complying with legislative and regulatory requirements
- B1: Who are your customers?
- Customers
- Factors that impact on different customer service expectations
- B2: Customer service skills
- Skills required to deliver consistent and reliable customer service
- B3: Customer service skills
- Developing customer service skills
- B4: Limits of authority and customer queries
- Unit 5: Sales and Personal Selling
- A1: The role of sales staff
- Selling
- Providing information
- Dealing with routine enquiries
- Representing the organisation
- A2 & A3: Knowledge and skills
- What knowledge and skills do sales people need?
- A4: The process of personal selling
- B1: Demonstrate personal selling skills
- Preparing for the sales process
- Maintaining an appropriate appearance
- Maintaining an appropriate attitude
- Dealing with different types of customers
- Communicating with customers
- Different types of communication
- Closing techniques
- Preparing the sales area
- Awareness of personal space
- B2: Demonstrate personal selling processes
- Recording information
- Closing techniques
- Customer care and after-sales services
- Dealing with enquiries
- Handling complaints or problems
- Overcoming barriers to closing the sale
- Repeat sales
- Up-selling
- Liaison with other departments
- Methods of recording
- Unit 6: Introducing Retail Business
- A1: The nature of retailing
- What is retail?
- Wholesalers and manufacturers
- The supply chain
- Retail channels
- A2 & A3: Sub-sectors and ownership
- Retail sub-sectors
- Retail business ownership
- A4: Retail outlets
- Organising retailers by size
- Types of retail outlet
- A5 & A6: Aspects of retailing
- Non-outlet retailing
- Location
- A7 & A8: What makes retail businesses function?
- Jobs in retail business
- Supporting retail business
- A9 & A10: Retail targets and performance
- Aims and objectives
- Measuring performance
- B1: Retail business in the UK
- Retail business and the external environment
- The benefits of retail developments to communities and customers
- B2: Doing business with the rest of the world
- The relationship between UK retailers and international markets
- Unit 7: Providing Business Support
- A1 & A2: Providing business support
- Types of support
- The purpose of providing business support
- B1: Using office equipment for different purposes
- Types of office equipment
- B2: Working safely
- Using office equipment safely
- C1 & C2: Organising and providing support for meetings
- Types of meeting
- Organising meetings
- C3 & C4: Supporting meetings and following up meetings
- Supporting tasks
- Follow-up activities
- Other tasks
- Unit 8: Recruitment, Selection and Employment
- A1: Organisational structures and functional areas
- Understanding organisational structures
- A1: Functional areas
- Sales
- Production
- Purchasing
- Administration
- Customer service
- Distribution
- Finance
- Human resources (HR)
- ICT (Information and Communications Technology)
- Marketing
- Research and development (R & D)
- A1: Purposes of functional areasand links between them
- Supporting business aims and objectives
- Links between functional areas
- A2: Job roles and responsibilities
- What do people at these levels do?
- Impact on roles of different organisational structures
- B1: Recruitment
- Why vacancies arise in a business
- Ways of recruiting staff
- Types of recruitment
- Cost and legal considerations
- B2, B3 & B.4: Job descriptions and person specifications
- Contents of a job description
- Contents of a person specification
- B5: Applying for jobs
- Application forms
- Curriculum vitae
- Letters of application
- Other requirements
- Pre-application tests
- Next steps after applying for a job
- C1: Job interviews
- Before the interview
- Behaviour during the interview
- C2: Personal audit
- Personal audit
- C3: Career development
- Information and advice
- Developing a career plan
- Unit 9: Principles of Marketing
- A1: Principles of marketing
- Defining marketing
- The importance of marketing
- How businesses use marketing
- Marketing and corporate objectives
- SMART objectives
- A2: What is a market?
- Types of market
- Related market activities
- Different types of markets
- Business models
- Business orientation and choice of model
- A3: Principles of branding
- The distinctive nature of branding
- The different dimensions of a distinctive brand
- The benefits of building brands
- B1: Researching the market
- Types and sources of data
- The uses of different types of data
- The use and benefits of situational analysis
- B2: Using market research in businesses
- Understand the purpose of research and analysis
- B3: The value of market research to businesses
- Interpreting key research findings
- The desirability of different levels of market share
- PESTLE analysis
- C1: The 4 Ps of the marketing mix
- Product
- Price
- Elasticity of demand
- Place
- Promotion
- Consistency and the marketing mix
- The difference between ebusiness and ecommerce
- Benefits of ebusiness and ecommerce
- C2: Factors affecting the marketing mix
- Influences on the marketing mix
- Evaluating the effectiveness of a marketing mix
- Unit 10: Using Business Documentation
- A1: The purpose of written communication in business contexts
- Purposes and formats of different types of business documents
- A2: Business contexts and business documents
- Formal and informal documents used in a business context
- The influence of internal audiences, external stakeholders and the public
- Selecting appropriate documents to meet the business context
- Impact of effective and ineffective written communication in businesses
- B1: Planning and selecting appropriate business documents
- C1: Produce business documents for communication in a business
- Steps involved in producing business documents
- C1: Document conventions
- Memos and emails
- Notices and reports
- Business letters
- Unit 11: Building Successful Business Teams
- A1: Effective teams
- What is a team?
- A1: What makes a team effective?
- Characteristics
- Stages in team development
- A1: Team roles
- Belbin's Team Roles
- A2: Effective teamworking
- Team behaviours
- The benefits of effective team working
- B1: Roles and responsibilities of the team leader
- Team leader responsibilities
- How the team leader contributes to overall effectiveness
- B2: Attributes and qualities of an effective leader
- C1: Effective teamworking skills
- Teamworking skills
- Potential barriers to effective team performance
- C2: Developing effective teamworking skills
- Unit 12: Introducting Law and Consumer Rights
- A1: Role of civil law and its courts
- Civil law
- Civil courts
- Civil procedure
- Case management
- Alternative methods of resolving disputes and their uses
- A2: Role of criminal law and its courts
- Criminal law
- Criminal courts
- The adversarial system
- Types of offence
- Bail or remand
- Mode of trial
- At the trial
- A3: Working in the law
- B1: How contract and negligence relate to consumers
- Contract
- Negligence
- B2: How legislation protects consumers
- Contracts for the sale of goods
- Contracts for the provision of services
- Negligence or defective goods
- Breaches of criminal law
- C1: Situations and legal remedies
- Situations where consumers may have a legal claim
- The rights and duties of buyers and sellers
- Remedies and their benefits
- Unit 13: Financial Planning and Forecasting
- A1: Calculating breakeven
- The concept of breakeven
- Definition of breakeven point
- Methods of calculating breakeven
- A2: Breakeven analysis
- The concept of breakeven analysis
- Identifying areas of profit and loss
- Margin of safety
- Costs (fixed, variable, total)
- Contribution
- Total revenue
- Presenting and interpreting breakeven information graphically
- The relevance of breakeven analysis to a business
- B1: Preparing a cash flow forecast
- Identifying cash inflows
- Identifying cash outflows
- Cash balances
- B2: Analysing a cash flow forecast
- The purpose of analysing a cash flow forecast
- How cash flow forecasting can be used to manage business finances
- C1: The use of budgets in business
- The purpose of budgets in business
- Types of business budgets and their differences
- C2: Controlling budgets
- Budgetary control
- How budgetary control is used in businesses
- The benefits of budgetary control for a business
- C3: Using variance analysis to inform business decisions
- The concept of variance
- The concept of variance analysis
- Identifying favourable and adverse variances
- The cause and significance of variances
- How variances affect business decisions
- Unit 14: Business Online
- A1: Online business activity
- Range of online business activities
- Types of online presence
- Types of activity
- Complementing offline activities
- Types of website
- A2: Doing business online
- Purpose of doing business online
- Achievement of business aims and objectives
- Provision of effective communication
- The customer interface
- Relationship marketing
- Advantages and disadvantages of having an online presence
- How businesses operate online
- Market presence
- A3: Researching trends and changes in the online business environment
- Changes in media format including the growth of social media
- The impact of growth of social media on online business activity
- Changes in technology
- Online advertising
- Effect of the current online business environment on the achievement of business aims
- B1: Planning and implementation
- B2: Operational risks
- B3: Staffing
- B4: Finance
- B5: Distribution
- C1: Using a website to operate a business online
- Why businesses use websites
- C2: Types and features of business websites
- Types of websites
- Platforms and compatibility
- Construction features
- Interactive features
- Aesthetics
- C3: User experience of websites
- How features improve user experience
- D1: Design a website to meet a client brief
- Planning the design of a website to meet a business need
- D2: Ensuring that a client brief is met
- Feedback from others
- Assessing the suitability of the website
- The importance of revising website designs
- Unit 17: Visual Merchandising in Retail Business
- A1: Visual merchandising activities
- A2: How size and sub-sector affect visual merchandisers
- The effect of size
- The effect of sub-sectors
- A3: Responsibilities of visual merchandisers
- B1: Visual merchandising techniques
- Psychological techniques
- Display techniques
- Visual techniques
- B1: Visual merchandising tools
- B2: Using visual merchandising techniques and tools successfully
- Benefits of successful visual merchandising
- C1 & C2: Apply visual merchandisingtechniques
- Supporting design ideas
- Planning a positive retail environment
- Planning a positive retail environment
- C3: Designing a product display
- Realistic product display designs
- Links to existing planograms
- Glossary
- Index
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