Unit A2 1 Making Business Decisions

A look at the advantages and disadvantages of growth, survival and profit maximisation as business objectives.

A look at all the stakeholders in a business, their objectives, how conflict may arise and types of conflict between different groups i.e. between customers and shareholders. A look at strategic evaluation and its advatnages and disadvantages.

A look at what a business plan is, including their advantages and disadvantages.

A look at what is culture, culture within a company and how to change culture via a groupthink.

A look at how to approach decision making.

A look at the different between cash and profit. The importance of cash. Cash Flow Forecasting. How to work out working capital. Methods of Solving Working Capital. The Working Capital Cycle.

Key company accounts definitions and the purpose of an income statement and statement of financial position.

What is conflict and the methods to resolve it: avoidance, accommodating, forcing, compromise and problem solving.

A one page super summary of mission statements and their advantages and disadvantages with general comments about the usefulness of one.

A look at investment decision making including payback with its advantages and disadvantages.