Introduction

  The first module of Business Management is split up into two main categories:

 1. Marketing

 2. Accounting and Finance

 There are three sections in the Marketing Category.

 

10.1 Marketing Analysis – In this section you are expected to know all about how a market for a given product or service is formed, including looking at things like segmentation analysis, market size, market growth and market share. These are all explained in detail later.

 10.2 Marketing Strategy – In this section you need to understand exactly how a market works and what strategies are employed by companies in order to maximise profits. This includes things such as the Marketing Mix the Product Life Cycle theory and the Boston Matrix.

 10.3 Marketing Planning – In this section you are expected to understand the need for companies to plan where and how their product will be placed and for what reasons. This includes things such as the pros and cons of different pricing methods and the applications of price elasticity of demand.

  ·        There are four sections in the Accounting and Finance category.

 10.4 Analysis of Finance – In this section you need to know about costs, profit contribution and breakeven analysis and be able to apply their formulas when answering number based questions. This includes knowing all the terms for costs and income.

 10.5 Company Accounts – In this section you’ll learn about cash flow forecasting, the differences between cash flow and profits and the importance of both and ways of controlling and or improving cash flow for a business. This includes things like factoring and sale and leaseback.

 10.6 Budgeting – In this section you need to know all about the advantages and disadvantages of budgeting, coupled with role of budgeting in management accounting. This includes stuff like calculating variance, and the uses of zero budgeting.

 10.7 Cost and Profit Centres – In this section you learn about the purposes of cost centres and profit centres and how they can help to organise and motivate businesses and help them to develop into effective and profitable firms.

 

As you can see the fun never stops in the world of business!