Business in Action

Outcome 1

The learner will:

Give an overview of how small businesses operate by:

1.1   Outlining reasons for individuals setting up in business
1.2   Describing skills and qualities of entrepreneurs when developing a business
1.3   Selecting a type of small business and outlining its features
1.4   Describing sources of business finance and support when setting up a small business

Outcome 2

The Learner will:

Give an overview of how small businesses satisfy customer needs by:

2.1   Stating the importance to a business of satisfying customer needs
2.2   Outlining how small businesses use market research information to satisfy the needs of customers
2.3   Describing promotional strategies used by small businesses
2.4   Describing quality measures used by small businesses

Outcome 3

The Leaner will:

Apply an understanding of the key functional activities of small businesses by:

3.1   Describing the way in which each of the functional activities of marketing, operations, human resources and finance support a small business
3.2   Outlining how two functional activities work together in supporting small businesses

Influences in Business

Outcome 1

The learner will:

Give an overview of key stakeholders in a small business and their
influence on it by:

1.1   Identifying internal and external stakeholders in a small business
1.2   Describing the influences stakeholders can have on a small business

Outcome 2

The learner will:

Make decisions on the running of a small business, taking account of
internal influences by:

2.1   Interpreting a simple cash budget or breakeven chart in order to reach a decision
2.2   Interpreting a simple job costing statement from data provided in order to reach a
decision
2.3   Outlining the purpose of training employees
2.4   Describing methods of motivating staff

Outcome 3

The learner will:

Give an overview of external influences that affect a small business by:

3.1   Identifying the influences
3.2   Outlining the impact of influences on a small business
3.3   Describing a response to the influences by a small business