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AQA Unit 2 BUSS2: Managing a Business

AQA Unit 2 BUSS2: Managing a Business. Recap of Unit 1. Unit 1 (also known as BUSS1: Planning and Starting a Business) concentrates on the issues faced by new businesses. The focus is on small businesses, either before start-up or after they have been trading for a short period of time.

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AQA Unit 2 BUSS2: Managing a Business

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  1. AQA Unit 2BUSS2: Managing a Business

  2. Recap of Unit 1 • Unit 1 (also known as BUSS1: Planning and Starting a Business) concentrates on the issues faced by new businesses. • The focus is on small businesses, either before start-up or after they have been trading for a short period of time. • The Unit 1 exam consists of: • Section A — short-answer questions requiring definitions, explanations and calculations. • Section B — questions requiring extended analytical and evaluative responses. • The majority of marks (63%) on Unit 1 are awarded for demonstrating content and application.

  3. Unit 2 • Unit 2 focuses on established, medium-sized businesses operating in the UK. • You will be expected to consider the challenges such firms face and the methods that can be used to improve their performance. • It is important that you carry out your own research into real businesses currently operating in the UK to develop your understanding.

  4. Unit 2 content (1) • Unit 2 content covers the key functional areas of business. • Finance: using budgets, improving cash flow, measuring and increasing profit. • People in Business: improving organisational structures, developing an effective workforce (recruitment, selection and training), developing and retaining an effective workforce (motivating employees).

  5. Unit 2 content (2) • Operations Management: making operational decisions, developing effective operations (quality), developing effective operations (customer service), working with suppliers, using technology in operations. • Marketing and the Competitive Environment: effective marketing, designing an effective marketing mix, using the marketing mix (product, promotion, pricing, place), marketing and competitiveness

  6. Unit 2 assessment • The Unit 2 exam is worth a total of 80 marks. • It lasts for 1 hour 30 minutes. • It consists of two compulsory, multi-part data-response questions. • Each data-response question is worth a total of 40 marks. • The businesses used in the exam may be real or fictional. • The Unit 2 exam accounts for 60% of your AS (30% of the overall A-level). • Remember that, as with other units, quality of written communication is assessed within AO4 Evaluation.

  7. Mark allocation for Units 1 and 2

  8. Tips for answering questions • Content earns fewer marks than in Unit 2. However, examiners can only award marks for other skills if content is accurate and relevant. • Make sure you take time to read — and use — the information in each data response in order to earn application marks. • Demonstrating analysis will earn more marks than any other skill in Unit 2. Build up a logical argument for any causes or consequences that you identify, e.g. ‘if this happens, it could lead to X…which could result in Y…’ • Evaluation requires judgement or recommendations. This means reaching a clear conclusion following logically from the points made and the evidence presented.

  9. Unit 2 key terms (1) • Adverse variance • Advertising • Branding • Competitiveness • Customer service • Degree of competition • Delegation • Direct selling • Distribution channels • External recruitment • Empowerment • Factoring • Favourable variance • Financial incentives • Induction training • Internal recruitment • Job description • Job enlargement/enrichment • Labour productivity • Labour turnover

  10. Unit 2 key terms (2) • Levels of hierarchy • Loss leader • Marketing mix • Mass marketing • Merchandising • Motivation theories • Net profit margins • Niche marketing • On-the-job/off-the-job training • Operational targets • Organisational structure • Overdraft • Person specification • Price skimming • Price penetration • Pricing strategies • Pricing tactics • Promotional mix • Portfolio analysis • Product life cycle

  11. Unit 2 key terms (3) • Profitability • Psychological pricing • Quality • Quality assurance • Quality control • Quality standards • Rationalisation • Sale and leaseback • Sales promotions • Short-term loans • Span of control • Sub-contracting • Suppliers • Team working • Technology • Total Quality Management (TQM) • Training • Unique selling point (USP) • Variance analysis

  12. And finally… • Effective revision is the key to exam success. • Make sure that you begin your revision in good time and have access to the following resources: • A complete set of accurate and up-to-date class notes. • A textbook containing chapters written for the current AQA Unit 2 specification. • A copy of the AQA Unit 2 specification. • Unit 2 past papers, mark schemes and examiners’ reports (download from www.aqa.org.uk).

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