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Key Terms - PESTLE

By Julia Sullivan,2014-05-17 01:17
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Be able to describe SWOT analysis and when it is used. Describe what a SWOT analysis is and how it is used,(helps businesses to look at where they are

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    A2

    Business

    Studies

    BS 3

    Revision Pack

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    KEY TERMS Define all the below terms

    Key Terms - PESTLE

    1. Monetary Policy

2. Fiscal Policy

3. Business Cycle

4. Recession

5. GDP (Gross Domestic Product)

6. Exchange rate

7. Import, export

8. Demographics

9. Health and Safety at Work Act

10. Sex Discrimination Act

11. Disability Discrimination Act

12. Data Protection Act

13. Sales of Goods Act

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    14. Consumer Protection Act

15. Ethics

    16. Pressure groups

    Key Terms Ratio Analysis

    17. Profit and Loss account

    18. Balance sheet

    19. Gross profit margin

    20. Net profit margin

21. ROCE

22. Liquidity

    23. Current Ratio

    24. Acid Test ratio

    25. Gearing Ratio

26. Liabilities

    27. Long term liabilities

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    28. Current liabilities

29. Equity

    30. Window dressing the financial performance of a business

    Key Terms Objectives and Strategy

    31. Aim

32. Objective

33. SMART

34. Strategy

35. Tactics

36. Stakeholder

37. Decision making

38. Constraints

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    Key Terms SWOT

    39. Be able to describe SWOT analysis and when it is used.

40. Strengths

41. Weaknesses

42. Opportunities

43. Threat

    44. Key Terms Growth & Change

    45. Merger

46. Takeover

47. Monopoly & Mergers Commission

48. Organic growth

49. Hostile

50. Duplication of resources

51. Vertical integration

52. Horizontal integration

53. Be able to describe causes of change.

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    Key Terms (write any key terms below that you

    think will be useful)

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    Business Diagrams Draw each diagram

    1. Product Life Cycle

    2. Business Cycle

    3. Boston Matrix

    4. Maslows Hierarchy of Needs

    5. Breakeven chart

    6. Span of Control

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    7. Organisational Chart

    8. Stock control

    9. Workforce plan

    10. Porters 5 Forces

    11. Implementing change

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PESTLE Do a cost benefit analysis of each topic

    (examples shown on pages 18- 31

    EVALUATE…………… Political and Legislation

     How can an increase / decrease in taxation impact on businesses

     How legislation impacts on businesses such as T-Mobile.

     How Health and Safety legislation can impact on a business

Economic

     How can an increase / decrease in interest rates impact on businesses.

     How a recession / boom in the business cycle can affect businesses

Social

     Social influences that could have an impact upon a business such as Primark

     How changes in demographics can impact upon a business

Technology

     How CAD CAM technologies have impacted on a business such as Ford

     How e-commerce can affect businesses such as Borders

Ethical

     The impact of a business, such as The Body Shop adopting ethical practises.

     The impact of global warming on government policies and businesses

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    Be able to apply and evaluate decisions based on

    stakeholder views

Define an aim and an objective linking it in to strategy.

Give examples of business aims and objectives.

Apply this to your case study.

Define a stakeholder.

Point out key stakeholders in the case study.

Analyse how possible aims and objectives may impact on stakeholders in a good / bad way.

Evaluate based on the aim objective given and the impact on stakeholders whether this is

    the right one or if you need to recommend an alternative strategy. Remember if they are

    not an influential stakeholder they are not very important!

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