16 18 Students Guide

8/9/2019 16 18 Students Guide

1/32

StudentGuide

16-18


2/32

2For m ore in fo rma t ion log on to

w w w . t t 1 0 0 . b i z / s t u d e n t s

Contents

A Acas and effective workplaces 6

B Boston Matrix 7

C Communication 8

D Development of a new product 9

E Entrepreneur 10

F Functions of an organisation 11

G Good customer service 12

H Hierarchy of needs 13

I Igor Ansoffs Matrix 14

J Juggle 15

K Keep up to date 16

L Levels of response 17

M Managing quality 18

N Nestl: developing a strategy 19O Organisational culture 20

P Positioning 21

Q Qualitative 22

R Responsible production sustainability 23

S Stakeholders 24

T Total Quality Management 25U Unions 26

V Vision statement 27

W www.tt100.biz 28

X Xternal influences 29

Y You 30

Z ZZZZZZZzzzzz 31


3/32

Listings

3For m ore in fo rmat ion log on to


Aims and objectives

Aims, objectives and values

Ansoffs matrix

Corporate Social Responsibility

Customer service

Developing new fuels

Effective workplaces

Enterprising managers

Ethical supply chain

Ethics

Factors of Production

Inclusion

Visit www.tt100.biz for Case Studies on these topics from the following organisations.


4/32



Listings

Liability

Market research

Meeting changing needs

Meeting customers needs

Mutuals

New product development

Organisational structures

Ownership

PESTLE/SLEPT analysis

Product portfolio

Quality

Re-branding

Recruitment and selection

Recruitment, selection and training


5/32



Recruitment, selection and training

Re-positioning

Roles of departments

Segmentation and customer needs

Stakeholders

Support for business

Sustainability

The sales function

Total quality management

Training

Training for growth

Unions

Listings


6/32


w w w . t t 1 0 0 . b i z / a c a s

A Acas and effective workplacesAcas aims to improve organisations and working life through better employment

relations. It achieves this by providing up-to-date information, independent adviceand high quality training. Acas works with employers and employees to solve

problems and improve performance.

Top Fact

Only 10% of Acas time is spent resolving disputes, the remainder is spent on

training and producing advice and information on developing a better workplace.


7/32

7For m ore de ta i l on t he Bos ton Mat r ix log on t o

w w w . t t 1 0 0 . b i z / b i c

BBoston MatrixThe Boston Matrix relates closely to product life cycles and identifies four classes of

products in an organisations portfolio. BIC manages its portfolio to meetconsumers needs. For a more detailed explanation of the different classes log on to

our website.

Market ShareH i g h L o w

H i g h

L o w

Problem childrennewly-launched products

Cristal Pocket Scents

Stars

successful productsat the growth stageComfort Twin Lady

Dogsproducts in decline

Tough Beard

Cash Cowsmature products

generating significant returnsCristal Ball

Market Growth


8/32

8To read t h is Case Stu dy log on t o

w w w . t t 1 0 0 . b i z / i n l a n d _r e v e n u e

CThe process where information is

exchanged between two parties(sender and receiver). There are a

range of communications methods

available. Clear communication helps

to reduce the cost of tax collection,

which leaves additional money

available for other government

spending projects e.g. on schools.

The tax collection authorities must

communicate with businesses and

with their accountants, who handle

their tax affairs.

Exam Tip

Barriers to communication is a frequent topic in examinations.

Postal Service

AmbientRadio

TelevisionTelephone

Face-to-facemeetings

OnlineCommunications

Communicationmethods

Communication


9/32

9To see rea l p roduc t deve lopment in ac t ion log on t o

w w w . t t 1 0 0 . b i z / g i l l e t t e

DThe process of bringing a new product to

the market is normally based on researchand development to meet the needs of

customers. Properly conducted market

research will identify the kinds of new,

improved products that consumers would

switch to if they become available. That

involves asking the right questions of the

right people, and interpreting their answersthoroughly. In the past, manufacturers

produced products and then tried to sell them to consumers. Successful organisations

now find out what consumers want and then produce this product for them.

Gillette recognised that different segments of the market are seeking different product

benefits. So, over the years, it has sought to develop several product categories ranging

from popular disposable razors to comprehensive shaving systems. In the UK an

increasing number of men have switched from disposable razors to shaving systems;

this fuels the market demand for handles and replaceable blades.

Shaving market share breakdown

1989

2003

Shaving systems43%

Shaving systems72%

Disposable razors57%

Disposable razors28%

Development ofa new product


10/32


w w w . t t 1 0 0 . b i z / a r c a d i a

E EnterprisingmanagersEntrepreneur A person who spots opportunities for change in order to earn a reward

or profit. Philip Greens style is probably best described as being firmlyentrepreneurial. He sees opportunities and is willing to take risks but only after he

has examined relevant data carefully. Green says of himself: "I am brave but I take

a view. It is an educated view. I am careful; I am not reckless." He constantly seeks

out new ideas and better ways of doing things. He also encourages others to use their

initiative and is renowned for his energy and for his attention to detail. He focuses

on every aspect of retailing from what stores actually stock to how the products are

laid out and displayed.

When selecting potential employees, Arcadia one of Philips companies - is

looking for people who can demonstrate the following competencies or skills:

working with people

putting the customer first

maximising own impact

inspiring performance

driving the business

making the right choices.

These competencies are all enterprise related. They refer to individuals ability to

satisfy customers and move the business forward.

Exam Tip

You will come across enterprise and entrepreneurship when you look at business

start up. It also comes through in examination Case Studies when a business is

looking to expand. Make sure you can link the characteristics of entrepreneurship

with management styles to pick up analysis marks.


11/32

FFunctions ofan organisationOrganisations are made up of different areas or functions. In order for the

organisation to operate efficiently the functions need to be able to work together toachieve the organisations overall aims and objectives. The work of Krafts Sales

department or division is, therefore, crucial to the success of the business. The four

Ps of the Marketing Mix are important in discovering what consumers want:

Product - What types of products are consumers looking for?

Price - What price are they willing to pay?

Place - Where do they want to buy these products?Promotion - What types of advertising and promotional activity will attract them?

The Marketing Mix comes to life within the Sales function.

Top Fact

Kraft Foods Inc. is the worlds second

largest food and beverage company

with revenues (total value of sales) in

2004 of over 18 billion.

Analyse customerneeds to generatenew product ideas

Marketing Sales

Confirm whether theseideas are likely to sell

Feedback customerrequirements to

Marketing

To f ind out m ore about the funct ions of an organisation check out

w w w . t t 1 0 0 . b i z / k r a f t11


12/32

12

GGood customer service is

based on understanding andmeeting the needs of your

customers. It is a vital part of

Quality Management. Here is

an example of a process to

deliver good customer service

from Portakabin.

Customer service can be the

key to developing a strategic

advantage in markets with

little product differentiation.

Building Hire

Por takabin provides ongoing customersupport throughout the building hire.

Portakabin contacts customer to checkthey are happy and deals with any difficulties

within 24 hours

Portakabin delivers on the agreed dateand to agreed budget

Por takabin and the customer finalisethe contract details

Por takabin quotes a specificationand price within 24 hours

Portakabin discusses the project with thecustomer and determines the precise

requirements e.g. internal layout, furniture,

air-conditioning

A potential customer contacts Portakabin

For m ore de ta i l on good cus tom er service log on to

w w w . t t 1 0 0 . b i z / p o r t a k a b i n

Good customer service


13/32

13To read t h is Case Stu dy and m ore on Polesta r go on l ine t o

w w w . t t 1 0 0 . b i z / p o l e s t a r

HHierarchy of needsAbraham Maslow believed

needs can be organised in ahierarchy. He argued that

meeting these needs would

motivate people. The needs

build on one another, so you

cant move to the next level

until the needs of the level

below have been satisfied.

When an employer like Polestar

demonstrates how much it

values its employees through its

training programme, career

structure and opportunities,

these highly trained individuals

become increasingly motivated

whilst meeting the market need.

Top Fact

Did you know the UK printing market is worth 14 billion a year!

Belonging - LoveFriends Family Spouse Lover

SelfActualisation

Pursue Inner TalentCreativity Fulfilment

Self EsteemAchievement MasteryRecognition Respect

SafetySecurity Stability Freedom from fear

PhysiologicalFood Water Shelter Warmth

MaslowsHierarchyof Needs


14/32

14For m ore deta i l on Ansof f s Matr ix log on to

w w w . t t 1 0 0 . b i z / b e i e r s d o r f

I Igor Ansoffs MatrixThe business analyst Igor Ansoff outlined some important strategies for business

growth. He identified four key approaches to growing a business. Beiersdorfsdevelopment illustrates all four.

i Market Penetration: increasing market share for a firms products in its existing

markets. Several approaches help to achieve this, including product improvement;

updating and building/improving existing products.

ii New product development: developing new products for existing markets

iii Market development: finding and developing new markets for current product

lines. This option is most suitable when existing products require only minor

modifications to be suitable for new, overseas markets. It also helps if the product

life cycle is similar in the different markets that the business serves. This will not

always be the case.

iv Diversification: developing new product markets outside the existing business. A

firm will pursue this strategy (plan) when new markets are highly attractive. To

do so, it may switch resources from some of its existing markets that it believes

to be in permanent decline.

Exam Tip

Ansoffs Matrix appears regularly on examinations. Check the website for exam

updates.

Current products New products

Current Markets

New Markets

i. Market penetration

iii. Market development

ii. New product development

iv. Diversification

Ansoffs product/market expansion grid


15/32



JJuggleJuggle your time between work and play - carefully. Many students neglect their

studies to get an extra few hours paid work in. Think of the long term, do you wantto be doing that part-time job forever? In any case logging onto the website will save

you time by taking you to the exact topic you need. It will give you guidance and

up-to-date information in a format that is easy to take in and learn from. It also

allows you to test yourself to make sure you are prepared for that exam or even just to

show that you understood what you covered in class that day check out the quizzes.

Remember you will only get out what you put in so put in www.tt100.biz and startmaking learning business studies easier.


16/32

16

K KeepKeep up-to-date with all business studies development by logging onto the website.

Theres advice on examinations with practice questions and answers as well asadvice and support packs on pre-issued Case Studies.

The Case Studies come in a variety of formats to suit your needs.

You can have an exact 2000 word copy of what you see in the binder.

A summarised A4 version with all the important facts and theory.

Or, if you prefer an easier-to-read Case Study, there is a Brief Case. This is still A4

but with shorter sentences and less technical words.

Log on and have a look for yourself pick the Case Study and topic that suits your

needs.

As you come up to an examination the Brief Case studies and shorter Case Studies

make excellent revision guides.

For m ore in fo rma t ion log on to


STUDENT GUIDESCheck out our student guides with hintson levels of response, preparing forexams, an A-Z of help including topic

summaries, definitions and much more.


17/32



LLevels of responseIf you can understand what an examiner is looking for in a paper, and appreciate

where the mark allocations are, it can make a major difference to your result.

Level 1 Identify points (define)

Level 2 Explains points (in context)

Level 3 Points are analysed (case for; case against)

Level 4 Points are evaluated (make a judgement).

Case Study material on real businesses is excellent for analysis. You can download

the studies in a variety of formats. Look for the links through the search facility on

the website to the area or topic you are studying at school. It couldnt be easier.


18/32

18

M Managing qualityThe British Standards Institution (BSI) provides a range of products and services that

assist in assuring high quality. The most successful modern companies manage toidentify their customers needs and create the processes that enable the business to

deliver them.

The most important aspect of BSIs

work is helping organizations to

develop customer focused management

systems which meet the ISO 9001

standard. This involves setting up

systems to ensure that processes are

customer focused. It also requires acompany to continually improve its

quality management system. From

2004, companies wishing to be

registered for the certificate must

conform to the latest version of the

standard ISO 9001:2000 Quality

Management Systems Requirements.

Customers

Find out whatthe customers

need

Businessprocesses

Give the customerswhat they need

For fu r ther exp lanat ion o f m anag ing qua l i t y check ou t

w w w . t t 1 0 0 . b i z / b s i


19/32

NA strategy is the means by which an

organisation achieves particularends. An agreed strategy answers the

question By what means are we

going to achieve our objective? For

example, some of Nestls recent

market research confirms that

increasing numbers of consumers

want to buy food products thatcomplement their healthy living

patterns.

Nestls development of a strategy to

promote Wellness is an evolution of

the companys original commitment

to nutrition and health.

The Chief Executive emphasises

Nestls move to becoming a Nutrition,

Health and Wellness company

Exam TipExaminers are always looking for

students to apply analysis to their

work (there are more marks

available if you do this.) Log on to

see how Nestl evaluates its

strategy.

Nestl: developinga strategy

The Chief Executive emphasisesNestls move to becoming a

Nutrition, Health and Wellness company

1867

2001

Combined with science and technologyin a research based company

Market research becomes the heartof new product development

Ongoing development ofnutritious products

Henri Nestl developsan infant food

To read th is case s t udy and m ore on Nes t l go on l ine to

w w w . t t 1 0 0 . b i z / n e s t l e19


20/32

20To see how organ isa t iona l cu l tu r e w orks chec k ou t

w w w . t t 1 0 0 . b i z / t r a v i s _p e r k i n s

O Organisational cultureCulture refers to an organisations key characteristics. It includes the shared beliefs

and the written and unwritten policies and procedures that determine the ways inwhich the organisation and its people behave, in order to solve business problems

and meet business objectives.

It is possible to gain a feel for the culture of an organisation by looking around and

talking to people who work for it. At the heart of Travis Perkins culture is the

assertion that quality of service is paramount.

Culture can be a tricky topic area for students to understand.


21/32

21For m ore de ta i l on pos i t ion ing log on t o

w w w . t t 1 0 0 . b i z / c a s t r o l

PPositioningPositioning identifies

where an organisationor product fits within

the market. It allows an

analysis of competitors

to be carried out. The

map is drawn out by

selecting key variables

that differentiate brandswithin a market.

To this day Castrols name is synonymous (associated) with premium quality, high

performance and leading edge technology in lubrication. (see positioning map above).

Testing Times

What does a market map allow a firm to do?

Check your answer at www.tt100.biz/students

High quality/performance

Low quality/performance

Low-tech High-tech

Castrolsposition


22/32

22For fu r ther exp lanat ion o f research go on t o

w w w . t t 1 0 0 . b i z / p h i l i p s

Q QualitativeQualitative market research looks in detail at what motivates consumers attitudes

and habits. It involves working with relatively small focus groups to discover theirviews about products or services.

For Philips, these were made up of consumers and professionals (trade and opinion

leaders, e.g. hospital surgeons who use its scanning equipment). Using qualitative

research makes it possible to find out a lot of detailed information e.g. current

perceptions of the company and its products, the types of new products and the

image that consumers would like to see Philips develop. The research helped Philipsdevelop its new positioning Sense and Simplicity.

Testing Times

What do you understand by the term Quantitative research?



23/32

RA business that operates responsibly is

one that is committed to helping meetthe needs of society today, while

respecting the needs of future

generations. To be truly sustainable,

the chocolate industrys supply chain

initiatives focus on 3 key areas:

Helping cocoa growers to be betterinformed creates:

economic benefits - better returns for growers and chocolate manufacturers

environmental benefits - encouragement of bio-diversity because cocoa growing

does not involve plantation-type agriculture, and helps

the proliferation of species

social benefits - valued, traditional ways of life are sustained but in a

way that fosters better economic returns for the cocoa

farmers, their families and communities.

Top Fact

Worldwide, farmers grow around three

million tonnes of cocoa beans each

year. Of these, about 700,000 tonnes

go to the USA. UK manufacturers

import about 215,000 tonnes.

To read th is Case Stu dy and m ore on BCCCA log on t o

w w w . t t 1 0 0 . b i z / b c c c a

Responsible production -sustainability

23


24/32

24For m ore de ta i ls on s tak eho lders log on to

w w w . t t 1 0 0 .b i z / a n g lo _a m e r i c a n

SA stakeholder is any

individual or group thatis affected in some way

by a companys activities.

Not all stakeholders have

the same priorities.

Employees interested in

pay and work ingconditions may take a

different stance from that

of shareholders interested

in profits and dividends

or customers interested

both in good quality and

low prices. Different

governments will take varying views on how far they should benefit from a

companys presence in their country, and in what ways.

Testing Times

What potential conflict could you see occurring between shareholders and customers?


Shareholders(a healthy return oninvestment; effectiverisk management)

Employees(jobs, training,

rising living standards)

Governments(tax revenues,

sustainable developmentprocess)

Non-governmentalorganisations(partnership in

development work)

Communities(jobs; opportunitiesfor social and human

development)

Futuregenerations

(sensitive use ofscarce resources)

Customers/Suppliers

(fair dealing)

Examplesof Anglo

Americansstakeholdersand theirinterests

Stakeholders viewpoints

Stakeholders


25/32

25To learn m ore about Assure v is i t

w w w . t t 1 0 0 . b i z / c o r u s

TTotal Quality ManagementTotal Quality Management (TQM) is a strategy for achieving continuous

improvements in all areas of an organisations operation. Corus pays particularattention to the testing of its products because of its focus on quality. It adopts a Total

Quality Management approach that aims to get it right first time. By insisting on

thorough testing at every stage it ensures that a product fulfils its requirements when

it is launched.

When working on Assure, for example, Corus tested three different anti-bacterial

additives from three different solution providers before making the final choice.

Testing Times

How can a TQM approach reduce costs?



26/32

26For fu r ther exp lanat ion o f un ions chec k ou t

w w w . t t 1 0 0 . b i z / u n i s o n

U UnionsA union is an organisation that represents and aims to protect the interests and rights

of its members. Its work is broad-based. For example, UNISON looks to promote: Health and safety at work. For example, employers must conduct a special risk

assessment for 16 and 17 year old workers, whose inexperience puts them at

greater risk.

Equality. Many unions look to ensure that men and women doing the same work

are paid the same rate. On average women earn less than men.

A healthy balance between work and leisure known as work-life balance. This

involves unions in campaigning, for example, on legal limits on working hours,holiday entitlements, maternity and paternity leave, and pensions.

Four reasons for joining a union

In a unionised workplace:

Average earnings are around 8% higher.

The average trade union member receives 29 days annual holiday compared with23 days for non-unionised workers.

Unionised workplaces have health and safety officers to ensure employers keep

workers safe.

Workplaces with union recognition are 20% more likely to benefit from an equal

opportunities policy.


27/32

27To read t h is Case Study and m ore on Miche l in log on to

w w w . t t 1 0 0 . b i z / m i c h e l i n

VVision statementA Vision statement outlines where the business wants to be in the future. It is

normally followed by a mission statement, then aims and objectives. Michelinsmission is to make a sustainable contribution to progress in the mobility of people

and goods by constantly enhancing freedom of movement, safety, efficiency and

pleasure when on the move.

The company intends to achieve this goal through the following means:

constant improvement of its products technical performance and its tyre-related

services quality alongside its core activities, development of new technologies or range of

products to support sustainable mobility

ongoing active role both in public debate on future modes of transport and in

researching relevant ways for transition towards sustainable mobility

delivering appropriate messages to its customers, enabling them to adopt sound

purchasing behaviours and positive attitudes towards road safety and

environmental issues.

Vision statements are sometimes referred to as road maps for an organisation.

Michelin images: Copyright DPPI/Michelin


28/32



W www.tt100.bizwww.tt100.biz for all your Business Studies information

Differentiated to suit all needs and abilities and available online, Case Studies are

available at three levels:

full 2000 word versions as those in the binder

summarised - 500 word - versions

Brief Cases - 500 word versions - with shorter sentences and less technical words.

Interactive Quizzes

Test knowledge with these fun, interactive quizzes covering the key topics at two

levels, 14-16 and 16-18. Use them with the Case Studies or on their own as revision

- its up to you.

Text Book Theory

Save yourself time by checking out the theory whilst youre on the site.

Company Information

Another time-saving feature, this section has links to specific pages relevant to

curriculum topics.

Glossary

Check out what business words and phrases mean by using our glossary of terms.


29/32

29To f ind ou t m ore about ex te rna l in f luences go to

w w w . t t 1 0 0 . b i z / l l o y d s

This looks at any factor

outside the business ororganisation that can

impact and affects its

operations. Businesses that

are keen to track changes

taking place in their

business environment may

use a PESTLE analysis.PESTLE is an analytical tool

that can help organisations to

create a strategy for risk

management. It does this by classifying risks into different categories.

Log on to tt100.biz for a full description of these factors and how they impact on

Lloyds.

Top Tip

Reference: wherever possible, for higher level response answers, cross reference

your suggestions with theory to support your responses.

Nature of Risk

Environmental

Legal

Technological

Social

Economic

PoliticalP

E

S

T

LE

Diagram to show elements of PESTLE analysis

X-ternal influences X


30/32



Y YouYou should probably be doing some revision for your examinations. Most students

have a problem with completing the examination in the time given. As a general ruleyou should work on a mark a minute. Ensure you practice this; anyone can find an

hour and a half to go over a past paper each week.

Just reading theory and business books will help to a point, but seeing how it really

works will stick in your memory much better. The Times 100 Case Studies are

written and designed to help you see how theory works in the real business world.

Start making your own revision guides up. Pick out the parts from the Case Studies

which interest and stimulate you. Mind-mapping topics is a really good way to

remember key areas. Look at the following - you can develop this as far as you need

to. A Case Study like Arcadia will help you.

Management

Styles

PaternalisticType of

organisation

AutocraticDemocratic

TheoryCharacteristics


31/32



ZZZZZZZZZZzzzzzzzzzMake sure you get plenty of rest before your exams. This means dont leave the

revision too late and try and cram it all in the night before. Research shows that littleand often means you learn and remember more.

Make sure you plan your time. Draw up a revision timetable which also build in time

for when you are not studying. Exercise and fresh air are equally important and keep

your body in shape as The Times 100 will keep your mind in shape.

Starting revision early will ensure you dont put yourself under excessive pressure andwill allow you to identify topic areas that you are weak on or find difficult to understand.

By identifying and tackling them early on you wont be worrying about them and dont

forget you can always ask your teacher for advice and guidance.

Dont forget simple things such as keeping yourself hydrated can make a massive

difference. So drink plenty of water!

www.tt100.biz


32/32

At the bottom of our web pages you will

find a magnifying glass.

Behind some of the magnifying glasses there is a

hidden letter. Collect the letters and re-arrange them

to spell a well-known business studies term.

Once you have registered your answer on our

competition page, you will be asked a simple question,connected to the term.

This will ensure your entry into our

competition prize draw, where one lucky

winner will receive vouchers for the High

Street store of their choice.

Go to www.tt100.biz and start searching today.

G o o d l u c k !

Something newfor Edi t ion 10

Documents

16 18 Students Guide