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 ⇒ BTEC National Extended Diploma in Business ⇒ Unit 7: Business Decision Making

Unit 7: Business Decision Making

This unit is part of the BTEC National Extended Diploma in Business and has the following learning outcomes and assessment criteria:

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  1. A Business plans
    1. A1 Business ideas
    2. A2 Purpose and structure of a business
  2. B Decision making in business
    1. B1 Sources for data collection
    2. B2 The use of business models to aid decision making
    3. B3 Techniques to analyse data effectively for business purposes
    4. B4 Appropriate formats for decision making in a business context
    5. B5 Software-generated information for decision making in a business
  3. C Use of research to justify the marketing of a business
    1. C1 Types of research
    2. C2 Competitor analysis
    3. C3 Trends
    4. C4 Marketing plan
  4. D Efficient operational management of the business
    1. D1 Legislation
    2. D2 Quality issues
  5. E Understand the importance of managing resources
    1. E1 Human resources
    2. E2 Physical resources
    3. E3 Financial resources
  6. F Creation and interpretation of financial forecasts
    1. F1 Creation and analysis of a sales forecast
    2. F2 Create and interpret a cash flow forecast
    3. F3 Creation and interpretation of a break-even chart
    4. F4 Creation and interpretation of an income statement
    5. F5 Creation and interpretation of a statement of financial position
  7. G Viability of a business
    1. G1 Ratio analysis
    2. G2 Threats and ‘what if’ scenarios
    3. G3 Contingency plan
  8. H Demonstrate business skills/IT skills
    1. H1 Business skills
    2. H2 Use IT skills to create appropriate documentation
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