Enterprise: A business is a person or group that provides a product or service. Types of business include - Schools, franchises, sole-trader, partnerships, public, private. Enterprise is the willingness to undertake new ventures and show initiative with a view to gaining rewards. Enterprise is the starting point to any business activity. An entreprenuer is a person with enterprise who can combine the factors of production to make a product or service. This resource facilitates the revision and additional support for AS and A Level Business. A CD will be sent to you swiftly containing both PowerPoint and PDF. A2 Business Studies NotesIAL BUSINESS STUDIES UNIT 1 FULL REVISION PACK Edexcel (International As Level I am an A2 student and have achieved 2 grade “A”s in my As exams by using this pack. There are currently no specific text books or resources online for the International A level so I made this for students who do the International A Levels. A-level business studies revision guides and question banks covering business organisation, marketing, management leadership and all core a-level topics. An entrepreneur is also a person who spots an opportunity and shows willingness to take risks in order to benefit from the potential rewards. Is what we sacrifice (or forego) when we decide to take one course of action over another. Opportunity cost is the value of the benefits of the next best alternative course of action forgone, when making a choice between alternative courses of action. Risk is the possibility of an event or condition that will have a negative or harmful impact on something perceived to be of value. Reward is the expected return which is either financial or other based on the risk taken. The opportunity cost of your first choice is the second best choice that you missed out on. Market size is the total sales (in value or volume) achieved by all firms in a particular market. Tom and jerry cartoon videos. The Tom & Jerry Show| Tom Gets In The Ring| Boomerang UK 馃嚞馃嚙. Tom & Jerry| Ultimate Chase Compilation| WB Kids. Market growth is the percentage change in the sales (in value or volume) over a period of time. Factors influencing growth: • Economic growth. • Nature of product. • Changes in taste. • Social changes. • Technological changes. ![]() • Demographic changes. Market share is the percentage or proportion of the total sales of a product or service achieved by a firm or a specific brand of product. Sales of a business divided by total sales in the market times 100. A market is a place where a buyer and seller come together. Local markets are smaller, local businesses. Some advantages are that it is cheaper, local gap in the market, less competition, conveniant. National markets are where a business operates all over the nation, for example Tesco. A-level Business NotesSome advantages are that you can get more profit, gap in the market, more customers, potential to grow. Physical markets are where buyers and sellers physically meet, for example shops, restaurants. Some advantages are personal service, neccessary in some markets, customers see what their buying, less returns, upselling (introducing a customer to a more expensive product.) Non-physical (electronic) markets are where buyers and sellers meet over electronics, for example online. Some advantages of this are that it is cheaper, market size increase share, open 24 hours, save money on costs. Breakeven is where a businesses costs are equal to their profit and so they are therefore not making a profit or loss. The formula for breakeven is: Fixed costs divided by price take away variable costs. Break even must be treated with caution. It is based of assumptions that costs and revenues will be stable. Businesses are often advised to consider the variables that might change and so may look at a number of scenarios. Advantages of break even are that it allows entrepreneurs to calculate the minimum number of sales needed before starting to make a profit. • Can forsee the level of profit or loss at different levels. • Can predict the outcome of changing variables. • Provides a target. A main disadvantage of breakeven is that it is only based off assumptions and so does not factor in any variable changes, for example the economic state. Edexcel A level Business Studies notes Unit3 • 1. A Complete note for Unit3| Tesmon Mathew EDEXCEL A LEVEL BUSINESS STUDIES UNIT 3 – INTERNATIONAL BUSINESS A LEVEL BUSINESS STUDIES NOTES • 2 Shaviyani Atoll School Kanditheem/Business Studies/Grade12/ By Tesmon Mathew INTERNATIONAL BUSINESS(UNIT-3) Unit. 1: Why does a business seek international market? labour leads to far greater output and consumption than self-sufficient individuals and families could achieve Individual providers of service activities such as hairdressing are likely to trade within a small area New markets Multiple markets Global sourcing Global sourcing is a procurement strategy by which a company moves its manufacturing unit to a cost efficient location even if it is a foreign country. Global sourcing often aims to exploit global efficiencies in the delivery of a product or service. These efficiencies include low cost skilled labor, low cost raw material and other economic factors like tax breaks and low trade tariffs. Some advantages of global sourcing, beyond low cost, include: learning how to do business in a potential market, tapping into skills or resources unavailable domestically, developing alternate supplier/vendor sources to stimulate competition, reduce risk, short term commitment and increasing supply capacity. Some key disadvantages of global sourcing can include: hidden costs associated with difference in cultures, exposure to financial and political risks in emerging economies, loss of intellectual property, and monitoring costs. For manufactured goods, include long lead times, the risk of port shutdowns interrupting supply, poor quality /reliability, loss of control, violation of social norms (child labour) and the difficulty of monitoring product quality. Whether you need help with your A-level Business Studies - or just want to get ahead - The Student Room has thousands of interactive learning resources at your disposal. All of our resources are created by the TSR community and offer you a comprehensive selection of study topics to utilise. Not only that: the community rates every resource, enabling you to access the most useful ones easily. Unlimited access is granted to TSR subscribers, however non-subscribers are still able to create their own study resources and make use of our great study planner: a timetable that works out the best times for you to get to work. On top of all that, you mustn’t forget to visit our; get over there and add your voice to the learning experience. We've just flicked the switch on moving all our digital resources to instant digital download - via our new subject stores. For every subject you can now access each digital resource as soon as it is ordered. This will always be the latest edition of each resource too (and we'll update you automatically if there is an upgraded version to use). 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