51����

This is a complete 4 lesson bundle to teach the 1.4 unit for Edexcel GCSE Business - making the business effective.
These lessons are written for Revisionstation by Sarah Hilton.

These lessons include the following topics:

1.4.1
The options for start-up and
small businesses
The concept of limited liability:
● limited and unlimited liability
● the implications for the business owner(s) of limited and
unlimited liability.
The types of business ownership for start-ups:
● sole trader, partnership, private limited company
● the advantages and disadvantages of each type of
business ownership.
The option of starting up and running a franchise operation:
● the advantages and disadvantages of franchising.
1.4.2
Business location
Factors influencing business location:
● proximity to: market, labour, materials and competitors
● nature of the business activity
● the impact of the internet on location decisions:
e-commerce and/or fixed premises.
1.4.3
The marketing mix
What the marketing mix is and the importance of each
element:
● price, product, promotion, place.
How the elements of the marketing mix work together:
● balancing the marketing mix based on the competitive
environment
● the impact of changing consumer needs on the marketing mix
● the impact of technology on the marketing mix:
e-commerce, digital communication.
1.4.4
Business plans
The role and importance of a business plan:
● to identify: the business idea; business aims and
objectives; target market (market research); forecast
revenue, cost and profit; cash-flow forecast; sources of
finance; location; marketing mix.
The purpose of planning business activity:
● the role and importance of a business plan in minimising
risk and obtaining finance.