153-AQA-BUSS1 - tutor2u Business Blog Specification Map AQA...

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AQA – BUSS1 tutor2u Business Blog – Specification Map © Tutor2u Limited 2010 Starting a Business This section provides candidates with an introduction to the scope of Business Studies within the context of starting a new business. Candidates will be expected to have an understanding of the range of activities involved in setting up a small business. Specification Amplification Enterprise • enterprise and entrepreneurs • the importance of risk and rewards such as profit • the notion of opportunity cost • motives for becoming an entrepreneur government support for enterprise and entrepreneurs. Candidates should consider the role, importance and characteristics of an entrepreneur in establishing a new business. Entrepreneurship can take a number of forms including spotting a gap in the market or developing a new or innovative product or process. Generating and Protecting Business Ideas • sources of business ideas • the identification o f a product or market niche franchises copyright , patents and trademarks . The sources of ideas may include brain-storming, own personal experience and business experience. The generation of business ideas must be in relation to a small business with limited resources. Candidates should be familiar with the formation and operation of franchises and understand the benefits and pitfalls to franchisors or franchisees of operating a franchise as opposed to starting a new business. Transforming Resources into Goods and Services • inputs, outputs and the nature of the transformation of resources into finished products adding value . This topic should be considered within the context
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This note was uploaded on 02/08/2012 for the course FIN FIN4345 taught by Professor Koij during the Spring '10 term at FIU.

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153-AQA-BUSS1 - tutor2u Business Blog Specification Map AQA...

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