Pearson BTEC • Business

Defines objectives, aims and strategy, and describes some long and short term objectives of businesses.

Describes unlimited and limited liability, types of legal structure (e.g. sole trader, plc, Ltd, partnership), and franchising

Explains how businesses can achieve greater flexibility, redundancy and dismissal, employer/employee relations (e.g. collective or individual bargaining), and the difference between businesses who see their staff as assets and businesses who see their staff as costs.

Outlines the stages in the recruitment process and the differences between job description and person specification, on the job and off the job training, internal and external recruitment. Also touches on selection methods, benefits of training, and recruitment costs.

Explains what organisational design is, organisational structures (e.g. centralised and decentralised, tall and flat, matrix), the key features of organisational structures, and advantages and disadvantages of the structures

Explains why motivation is important to a business, the financial and non-financial incentives a business can offer its employees, and the different motivation theories from Maslow, Mayo, Taylor and Herzberg

Highlights the distinction between leaders and managers, with the characteristics of a good leader. Also includes a summary of the different leadership styles (autocratic, democratic, laissez faire, paternalistic) with the features involved in all of them.

Provides a definition of niche and mass markets, as well as advantages and disadvantages of both. Also explains market size and market share, dynamic markets, how competition affects the market, and risk and uncertainty.

Describes the difference between product and market orientated approaches to businesses, why businesses conduct market research, primary and secondary research and the pros/cons of both, sampling size and representation, how ICT can be used in market research, and market segmentation.

Describes market mapping, competitive advantage, product differentiation, and added value