Business Management SL
6
Chapters
175
Notes
Unit 1 - Introduction To Business Management - QB
Unit 2 - Human Resource Management - QB
Unit 3 - Finance & accounts - QB
Unit 4 - Marketing - QB
Unit 5 - Operations management - QB
Unit 6 - Assessment
Business Management SL
Unit 1 - Introduction To Business Management - QB
Unlocking Success: Essential Steps For Start-Up Businesses
640 words
4 mins read
Last edited on 5th Nov 2024
Table of content
The biz idea! 🧠
- It's what your business will do.
- Can be simple like house-cleaning or fancy like manufacturing.
- Real-world example: Imagine you noticed everyone in your town loves spicy food but there's no spicy chip shop. Boom! Your business idea could be a spicy chip shop. 🌶️🍟
Types of business ideas 🌐
- Market-Driven: The market tells you what they want!
- Product/Service-Driven: You have to convince people they need what you offer.
Business basics - checklist! ✅
- Where's the business location? 🏢
- What's the cool business name? 🤔
- Legal stuff: What type of business? (e.g., Corporation, sole trader) ⚖️
- How will the biz operate day-to-day?
- Got the essentials? (Suppliers, customers, government services) 📋
Perfecting the business idea 🎯
- Dive into Market Research! Find out what makes your biz special.
- Real-world example: Say you want to start a grocery. Research might show too many general stores. But maybe there's a gap for a grocery specializing in... unicorn-themed snacks! 🦄
Business plan - the master plan! 📖
- Addresses ALL things before starting.
- Helps potential partners, investors, and banks believe in you. 💰
Legal know - how 📜
- Every country has rules for businesses: registration, licenses, taxes, etc.
- Know the laws to avoid surprises (and fines)!
- Real-world example: You can't just bake cookies at home and sell them everywhere without checking health regulations and getting a business license.
Show me the money! 💵
- Find funds to start the biz.
- Might be from your savings, or you might need investors.
- Real-world example: Imagine pitching your unicorn snack idea to an investor like on the TV show, "Shark Tank". Will they bite?
Test before you invest 🚦
- Launching is the final step but test first!
- Start small, see the reaction.
- Adjust based on feedback.
- Real-world example: Before opening a big restaurant, maybe start with a small pop-up stall or food truck to see what dishes people love the most
Remember! Starting a business is thrilling but risky. Statistics say many new businesses fail. But with the right idea, research, planning, and flexibility, you increase your chance of success. 🚀
Study tip: Always connect these steps with real-life businesses or your own mock business ideas to better understand and remember.
Happy studying! 🌟
Business Management SL
Unit 1 - Introduction To Business Management - QB
Unlocking Success: Essential Steps For Start-Up Businesses
640 words
4 mins read
Last edited on 5th Nov 2024
Table of content
The biz idea! 🧠
- It's what your business will do.
- Can be simple like house-cleaning or fancy like manufacturing.
- Real-world example: Imagine you noticed everyone in your town loves spicy food but there's no spicy chip shop. Boom! Your business idea could be a spicy chip shop. 🌶️🍟
Types of business ideas 🌐
- Market-Driven: The market tells you what they want!
- Product/Service-Driven: You have to convince people they need what you offer.
Business basics - checklist! ✅
- Where's the business location? 🏢
- What's the cool business name? 🤔
- Legal stuff: What type of business? (e.g., Corporation, sole trader) ⚖️
- How will the biz operate day-to-day?
- Got the essentials? (Suppliers, customers, government services) 📋
Perfecting the business idea 🎯
- Dive into Market Research! Find out what makes your biz special.
- Real-world example: Say you want to start a grocery. Research might show too many general stores. But maybe there's a gap for a grocery specializing in... unicorn-themed snacks! 🦄
Business plan - the master plan! 📖
- Addresses ALL things before starting.
- Helps potential partners, investors, and banks believe in you. 💰
Legal know - how 📜
- Every country has rules for businesses: registration, licenses, taxes, etc.
- Know the laws to avoid surprises (and fines)!
- Real-world example: You can't just bake cookies at home and sell them everywhere without checking health regulations and getting a business license.
Show me the money! 💵
- Find funds to start the biz.
- Might be from your savings, or you might need investors.
- Real-world example: Imagine pitching your unicorn snack idea to an investor like on the TV show, "Shark Tank". Will they bite?
Test before you invest 🚦
- Launching is the final step but test first!
- Start small, see the reaction.
- Adjust based on feedback.
- Real-world example: Before opening a big restaurant, maybe start with a small pop-up stall or food truck to see what dishes people love the most
Remember! Starting a business is thrilling but risky. Statistics say many new businesses fail. But with the right idea, research, planning, and flexibility, you increase your chance of success. 🚀
Study tip: Always connect these steps with real-life businesses or your own mock business ideas to better understand and remember.
Happy studying! 🌟