term1

no date topic
20/8/24 CASE STUDY THE KANDY SHOP
1
2 21/8/24 Business notes

3 22/8/24 business stakeholder

4 22/8/24 Case study Stakeholder

5 27/8/24 Case study of chap#1

6 27/8/24 Business objective

importance of communication in
business
Sr no.
 Date

Topic

1.

22-08-24

Stakeholders.

2.

23-08-24

Homework.

3.

27-08-24
Business Objectives-Case study.

4.

27-08-24

Business Objectives.

5.

29-08-24

Business.

6.

3-09-24

Business Objectives.
7.

4-09-24

Sole Trader,Partnership,Social Enterprises

and Franchises.

8.

5-09-24

Types of organisations(Partnership).

9.

9-09-24

Franchises.
10.

11-9-24

Private limited company.`

11.

13-09-24

Appropriateness of different forms of

ownership.

12.

18-09-24

Classification of business.

13.
20-09-24

Franchises.

14.

20-09-24

Business activity notes.

15.

1-10-24

Past Paper Practice.

16.

8-10-24
Importance of good communication in
business.

17.

9-10-24

Importance of good communication in

business.

18.

9-10-24

Importance of good communication in

business case study.
Sr no

Date
 Topic

19.

10-10-24

Importance of communication in business.

20.

14-10-24

Barriers to communication in business.

21.

29-10-24
The importance of motivation in a
workplace.

22.

7-11-24

Motivation.

23.

14-11-24

Recruitment.

24.

20-11-24

Training.
25.

21-11-24

Training.
___________________________________
___________________________________
___________________________________

CASE STUDY:THE KANDY SHOP

Q:Why do you think tharanga opened a

second-hand bicycle shop?

Ans: He always wanted to open his own

business,he want to be boss of his own,he
has a passion of bicycle
Q:What are these resources used by
tharanga when setting up his business?

Ans: he used his saving and took loan his

grandmother brought tools and land for the
shop
Q:why do youn think business exist?

Ans:Because business is the main basic

—-------------------------------------------------------
Topic:- Business notes

definition :
business: A business is an organization that
provide goods and services. the Kandy
cycle shop example illustrates many
features of business
business organization =
●​enterprise
●​firm
 ●​organization
●​business
organization; group such as club or
business that has formed for a particular
purpose
goods ; pycisal product such as mobile
phone a packet of crisps or a pair of shoes

services non-physical products, such as

banking, car washing and waste disposal

output amount of goods or work produced

by a person, machine or factory

human resources in some businesses, the

department that deals with employing,
training and helping people
consumer goods: goods and services sold
to ordinary people consumer rather than
business
producer goods: goods and services
produced by one business for another

needs: basic requiurement for human

survival
wants: people desires for goods and
services

private sector business organisations

owned by individuals or groups of
individuals
public sector business organisations owned
by central or local government

business stakeholder
 Business Stakeholder
●​ Owner
●​Customer
●​Employee
●​Manager
●​Financier
●​The Government
●​supplier
●​local community
Stakeholder are defined as the person who
will be affected by the business decision

1c
2b
3c
4a

Case study:Stakeholder
Ans1: Stakeholder are defined as the person who will be
affected by the business decision
Ans2:
●​ Customer
●​ Employee
Ans3:
 ●​ Regular Orders
●​ On-Time Payments
●​ Long-term Contracts
—-------------------------------------------------------
Meaning:-
Producer goods:-
Goods manufactured and used in
further manufacturing process or sale

Objective:-
Goals or target set by a business

●​ Employees need something to work towards

●​ Without objectives owners might not have the
motivation
 ●​ Objectives help to decide where to take a business
and what steps are necessary to get there.
●​ It is easier to assess the performance of a business if
objectives are set.

—---------------------------------------------------------------------------
topic chapter qqquestion 1

Ans1:-Goods manufactured and used in further

manufacturing process or sale
Ans2:- non-government company which is
created by the public (but not for the public)
work only for profit

Ans3:-the stakleholder of JCB are

●​150 dealer
●​11000 employ

Ans4:-​

Notes:-
market share number of customer
purchasing from specific business or brand
is called market share of that specific
business
CSR
corporate social responsibility

1B
2C
3A
4D
Why might objective change as business
evolve?
●​MARKET CONDITION
●​TECHNOLOGY
●​PERFORMANCE
●​LEGISLATION
sole trader
partnership
private limited company
public limited company
enterprise
franchise

business and owners are separate identify

and business are an artifcal person in
incorporated
business and owner are the same person
___________________________________
Chapter 16 the importance of goods
communication in business

communication:- communication is about

sending and receiving information

process of communication :-
{sender-message -receiver}= feed back

passing information in business it could be

upwards and downwards horizontal
downward communication involves
manager giving information or order to their
subordinates
subordinates people in the hierarchy who
work under the control of a more senior
worker

upward communication passing

messages from the bottom of an organisation to those at
the top
horizontal communication exchange of information
between parties on the same level in an organisation's
hierarchy
______________________________________________

topic :-

internal communication communication

between people inside the business
external communication communication
between the business and those outside
such as customers, investors or the
authorities

This takes place when spoken information

is exchanged by people who can see each
other. Face-to-face communication is
effective. The advantages and
disadvantages are shown in Table 16.2.
Some examples of face-to-face
communication include:

Most businesses use electronic

communications. It is possible to deliver
messages instantly, all over the world and
to a number of people at the same time
using electronic methods.

___________________________________
Ans1:- external communication is a form of
communication in which exchanging
information between a company and
external entities such as customers,
suppliers, investors, media, and the general
public.

Ans2:-One benefit of using a presentation

as a means of communication is that it
allows you to present complex information
in a visually engaging and organized
manner. By combining text, images, and
even multimedia elements, a presentation
can simplify ideas and make them easier to
understand, helping to maintain audience
interest and attention, especially in a formal
setting like an election speech or class
presentation.
Ans3:- good communication can lead to a
better profit and better management

Ans4:- the advertises can lead to make

company goodwill high and more people
will recognize it
___________________________________
BARRIERS TO COMMUNICATION
communication barriers obstacles that
prevent effective communication between
the sender and the receiver

LACK OF CLARITY
TECHNOLOGICAL BREAKDOWN
POOR COMMUNICATION SKILLS
______________________________________________________________________

motivation
urge to work more
mindset confidence
example gift , bonus
why is employee motivation is important for
business
easier to attract employee
easier to retain employee
high labour productivity
_________________________________
how can business influence motivation
hezberg two factor theory
motivator hygiene factor
__________________________________
Frederick Taylor's Motivation Theory
(1911)
●​Taylor observed that workers in
manufacturing were often inefficient and
unmotivated.
●​He believed workers were primarily
motivated by money and that proper
incentives could improve productivity.
Key Recommendations:
1.​ Specialized Tools & Equipment:
Workers should have access to
 specialized tools to perform tasks
efficiently.
2.​ Strict Working Procedure: There
should be a structured and standardized
approach to work.
3.​ Proper Training: Employees should
receive adequate training to carry out
their tasks.
4.​ Breaks for Physical Recovery: To
prevent burnout, workers should have
regular breaks.
5.​ Performance-based Pay: Pay should
be linked to productivity to motivate
workers.
Principle of "Fair Day's Pay for a Fair
Day's Work":
●​Taylor suggested that after optimizing
work methods, employees should be
compensated based on their output,
 reinforcing motivation through financial
incentives.

Full-time Employment:
●​Employees work a standard full working
week (usually five days).
●​Entitled to benefits and rights like health
insurance or overtime pay.
●​In the EU, a full-time worker should not
work more than 48 hours per week.
Part-time Employment:
●​Employees work fewer hours than
full-time workers, often less than 30
hours per week.
●​Provides businesses with flexibility,
especially during busy periods.
●​Suitable for students, parents, or those
seeking a work-life balance.
 Job Share:
●​Two part-time employees share the
responsibilities and pay of one full-time
job.
●​Ideal for those who want to reduce work
hours while still contributing to a team.
●​Benefits both employees (more leisure
or family time) and businesses (dual
ideas and energy).
Casual Employment:
●​Workers are hired on an as-needed
basis with no guarantee of consistent
hours.
●​Offers businesses flexibility but may lack
commitment from workers.
●​Common in industries like hospitality or
for event-based work.
Seasonal Employment:
●​Full-time but temporary work required
during specific times of the year (e.g.,
ski resorts in winter, farms during
harvest).
●​Provides flexibility to businesses and
suits workers who prefer working during
particular seasons.
●​Ideal for workers who like to travel or
work only during certain months.
Temporary Employment:
●​Short-term work to cover for absent
employees or to meet a temporary
increase in demand.
●​Can be full-time, but the contract may
last between 3 to 12 months.
●​Offers job seekers a temporary income
or a stepping stone into a permanent
given to role.
chapter training
training:- process that involves increasing
the knowledge and skill of a worker to
enable them to do their job more effectively
induction training training given to newly
hired employee ​
A complete tone of the worship
introduction to job and direct work
colleague
to senior staff
company history ,aims and objective
company policy i-e dress code discipline
policy and holiday
health and safety training
on the job training
training that takes place while doing the job
methods/ways of the job training
mentoring
job rotation
watching another worker
Advantage
output production
relevant
cheaper
easy
disadvantage
loss of production due to mistakes done by
new worker
stressful
may got frustrated it unpaid
dangerous
training
training in healthcare and safety
using and maintaining safety equipments
the importance of hygine environment
the danger from hazardavs substance
the protection needed from violence
bullying threat and stress in the work place
the benefit of training and reason of training
keeping worker up to date
improving labour fieibilty
improving
__________________________________
Ans1:- c
Ans2:- c
Ans3:- Entrepreneurs play a significant role
in shaping the economy in various ways.
One major impact is through job creation.
When entrepreneurs start new businesses,
they hire employees, which reduces
unemployment and contributes to a more
active labor market. This can also lead to
the development of new industries,
boosting economic growth and stability.
Another way entrepreneurs impact the
economy is through tax revenue. As
businesses grow, they pay taxes to the
government, which can be used to fund
public services, infrastructure, and social
programs. These taxes help maintain and
improve the economy's functioning by
providing resources for government
initiatives. Additionally, the employees hired
by entrepreneurs also contribute to taxes
through income tax, further strengthening
public finances.
In summary, entrepreneurs drive economic
growth by creating jobs and contributing to
tax revenue, both of which are essential to
a thriving economy.
Ans1:- The Witney Flower Shop's USP is
that it imports exotic flowers such as
orchids, which no other flower shop in the
area provides.
Ans2:- One method the Witney Flower
Shop could use to add value is by offering
customized floral arrangements for
customers. This allows customers to have
unique, personalized designs that suit their
specific needs or preferences, making the
products more appealing.
Ans3:- Being located on a high street
means the business is more visible to
passing trade. This adds value because
it increases the number of potential
customers who might stop by the shop on
their way to other destinations, leading to
higher foot traffic and greater brand
exposure.
Furthermore, being located on a high
street makes it easier for customers to
visit the shop when buying from other
local businesses. This adds value
because it encourages customers to make
spontaneous purchases while they are
already in the area for other errands. The
convenience of a central location boosts
sales and creates opportunities for
cross-promotion with other local shops.
Ans1:-d
Ans2:-One way changing consumer needs
could create a new opportunity for a
business is by responding to shifts in
lifestyle. For example, as more people
become health-conscious, there is an
increasing demand for healthier food
options, such as organic products,
plant-based alternatives, and low-calorie
snacks. A business that can adapt its
offerings to meet these evolving
preferences can tap into a growing market.
By introducing new products that cater to
this shift, a company can attract customers
who are prioritizing their health and
wellness, creating a new revenue stream.
Ans3:-
One reason a business owner might want
to develop new ideas from existing products
and services is to maintain competitive
advantage. By improving or innovating on
existing products, businesses can
differentiate themselves from competitors,
meet changing consumer demands, and
avoid stagnation. For example, a company
could add new features, improve quality, or
offer customization options to its current
product line, ensuring that it stays relevant
and appealing to customers. This
innovation helps the business stay ahead in
a competitive market and attract repeat
customers.

Ans4:-
One important factor an entrepreneur
should consider before opening a new
business is whether there is a genuine
consumer need for the product or service
they intend to offer. Without understanding
the market demand, a business is at risk of
offering something that consumers do not
want or need. Conducting market research
to identify existing gaps in the market or
unmet needs is crucial for success.
Entrepreneurs should assess the size of the
target market, the level of competition, and
how the product or service fits into
consumer lifestyles or preferences. If the
consumer need is not strong enough, the
business may struggle to attract customers
and achieve profitability, making it vital to
ensure that there is a clear and sufficient
demand before launching. This
consideration helps reduce the risk of
failure and increases the likelihood of
long-term business success.
term 2
no date topic

1 1 jan 25 Decision of location

2 14 jan 25 Case study online business

3 16 jan 25 FACTORS INFLUENCING THE LOCATION AND RELOCATION

OF BUSINESSES

4 17 jan 25 Lesson missed because of ppt

5 21 jan 25 Notes

6 22 jan 25 Decision of location

7 28 jan 25 market
1 What are four factors that must be taken into account when locating a
nuclear power station?

Ans 1:- When choosing a location for a nuclear power station, it's important
to consider factors like being close to a reliable water source for cooling,
avoiding areas with frequent earthquakes to prevent damage, placing it far
from densely populated areas to ensure safety, and making sure it won't
harm the environment or wildlife. These factors help ensure the plant
operates safely and efficiently while protecting people and nature.

2 Describe how the changing business environment has affected the

location of many service providers such as retailers.

E-commerce Growth: Many retailers now prioritize establishing an online

presence, which has decreased the need for physical stores in traditional
locations. As a result, retailers may focus on smaller, more strategically
located outlets or even opt for warehouses to fulfill online orders.
Cost and Accessibility: The increasing cost of rent in prime retail locations,
combined with the shift towards online shopping, has pushed retailers to
choose locations that balance cost efficiency with consumer access.
Retailers might opt for out-of-town locations, smaller malls, or logistics hubs
where operational costs are lower, while still being close to their customer
base.
Changing Consumer Preferences: Service providers are also responding to
evolving customer preferences for convenience and experiences. Many
retailers are moving toward locations in high-traffic areas or shopping
centers that offer experiences in addition to shopping (e.g., entertainment,
dining), catering to the experience-driven economy.

3 In groups, consider where you might locate (a) a banana plantation, (b) a
large car factory and (c) a new shopping centre or mall. Give at least two
reasons for each answer.
a) Banana Plantation:

●​ Climate: Bananas require a tropical climate with warm temperatures

and regular rainfall, so the plantation would need to be located in
regions such as Central America, Southeast Asia, or parts of Africa.
●​ Soil Quality: Fertile, well-drained soil is ideal for banana growth.
Locations with rich, volcanic soil are particularly suited to banana
cultivation.

(b) Large Car Factory:

●​ Proximity to Raw Materials: A car factory needs to be located near

suppliers of raw materials like steel, rubber, and plastic. This reduces
transportation costs and ensures a steady supply of essential
components.
●​ Access to Labor and Infrastructure: The factory should be located
near a skilled labor force and in areas with good transportation links
(roads, rail, ports) for ease of shipping finished cars to markets and
importing materials.

(c) New Shopping Centre/Mall:

●​ Customer Demographics: The location should be in an area with a

high population density or easy access to a large customer base.
Additionally, considering the area's socioeconomic characteristics can
ensure the mall caters to the right market.
●​ Transport and Accessibility: A shopping center should be easily
accessible by public transportation and major roads, making it
convenient for customers to visit. Parking facilities are also important
for attracting car-dependent shoppers.
FACTORS INFLUENCING THE LOCATION AND RELOCATION OF
BUSINESS

Proximity to the market

Proximity to labour
Proximity to material
Proximity to competitor

brownfield sites
areas of land that were once used for urban development

greenfield sites
previously undeveloped areas of land, usually on the outskirts of towns
and cities
________________________________________________________

Legal Controls on Business Location Decisions: Governments, both

local and national, may influence business location decisions for various
reasons:

1.​ Avoid Congestion: To reduce strain on infrastructure (e.g., roads,

schools, hospitals) by preventing overdevelopment.
2.​ Minimize Negative Impact on Communities: To avoid issues like
noise pollution or environmental harm from certain industries in
residential or protected areas (e.g., nightclubs or refineries in
inappropriate locations).
3.​ Encourage Job Distribution: To reduce regional unemployment by
incentivizing businesses to locate in high-unemployment areas.
4.​ Financial Incentives: Governments may offer incentives like tax
breaks, low rents, and reduced rates to encourage businesses to set
up in specific areas, particularly those designated as assisted areas.
5.​ Attract Foreign Investment: To bring in foreign manufacturers and
create jobs, which also benefits domestic suppliers.
 6.​ Planning Controls: Governments use strict planning permissions to
control business locations. In some cases, there may be complete
bans on development to protect the environment or for safety
reasons. Certain large-scale operations (airports, power plants, etc.)
require long consultation and viability studies, often resulting in
significant delays before approval.
●​ petrochemical any chemical substance obtained from petroleum or
natural gas
●​ consultation discussion in which people who are affected by or
involved in something can give their opinions

●​ assisted areas areas that are designated by a government as having

economic problems and are targeted to receive support in a variety of
forms
●​ viability studies careful study of how a
planned activity will work, how much it will cost, and what income it is likely
to produce

Tariffs tax on imported product Notes on Trade Barriers and Trade Blocs:

Quota restriction on number of imported goods

Trade Barriers:

●​ Definition:Measures used by governments to restrict

imports, such as tariffs (tax on imports), quotas, or other
regulations.
●​ Impact: These barriers increase the cost of imports,
protecting domestic industries but making international
trade more expensive and complicated.
Reasons for Trade Barriers:

●​ Protect domestic industries and jobs.

 ●​ Prevent dumping (selling products at below market
price).
●​ Ensure national security or maintain political influence.
Trade Blocs:

●​ Definition:Groups of countries in the same region that

agree to remove or reduce trade barriers among
themselves, facilitating smoother trade.
●​ Examples:
○​ African Union (AU): Includes nearly all African
nations, excluding most North African countries.
○​ European Union (EU): A group of European
nations with shared economic and political policies.
○​ ASEAN (Association of Southeast Asian
Nations): A trade bloc in Southeast Asia.
Benefits of Locating Inside a Trade Bloc:

●​ Avoid Tariffs: Businesses can avoid import duties and

other trade barriers when selling products to other
countries in the trade bloc.
●​ Cost Reduction: Reduced barriers make it cheaper for
businesses to export goods within the bloc.
●​ Market Access: Businesses gain easier access to the
entire trade bloc's market without additional taxes or
tariffs.
Example of Trade Bloc Strategy:

●​ Chinese Solar Panel Producers:

 ○​ Set up factories in Malaysia, Singapore, and
Thailand to avoid import duties when exporting
products to the US and EU.
○​ These countries are part of trade blocs (e.g.,
ASEAN), allowing products to enter major markets
without additional costs.
Strategic Business Location Decision:

●​ Companies often choose to set up operations in

countries within trade blocs to reduce costs, avoid tariffs,
and access a broader market.

____________________________________________

1A
2A
3C
4A

1. What is meant by the term greenfield site?

A greenfield site refers to a plot of land that has not been

previously developed or used for industrial or commercial
purposes. It is essentially a pristine, undeveloped area where
construction or development can occur without the need for
land remediation. In the case of Site A, the term implies that
the office block is located on new land, which is being
developed specifically for business use, offering the company
the opportunity to create a customized working environment
from scratch.

2. Determine the monthly rent for each site assuming that the
company employs 2000 staff.

To calculate the monthly rent, we first need to estimate the

amount of office space required for 2000 employees.
Assuming each employee requires about 10 square feet of
office space, the company would need a total of 20,000
square feet. For Site A, with a rent of US$1 per square foot,
the total monthly rent would be US$20,000 (20,000 square
feet × US$1). On the other hand, Site B charges US$1.10 per
square foot, meaning the total rent would be US$22,000
(20,000 square feet × US$1.10).

3. Governments may try to influence the location of

businesses.

Governments often try to influence the location of businesses

to promote economic development in certain areas. By
offering incentives like tax breaks, grants, or subsidies,
governments encourage businesses to establish themselves
in regions where economic activity is needed to boost job
creation, stimulate local markets, and increase revenue.
Another key reason is to promote regional balance.
Governments may seek to reduce overcrowding in
metropolitan areas by offering businesses incentives to set up
operations in less developed or rural regions. This helps in
distributing industries more evenly, fostering development
across a broader geographic area.

4. What factors would service providers, like the New Delhi

Insurance Company, have to take into account when deciding
on a business location?

When deciding on a business location, service providers like

the New Delhi Insurance Company must consider the
availability of skilled labor. For a call center, the company
needs employees who are not only well-educated but also
fluent in multiple languages. Therefore, the company must
choose a location with access to a talent pool that meets
these qualifications, such as urban areas with strong
educational institutions. Additionally, infrastructure and
connectivity are crucial. A location with excellent transport
links and reliable electronic communication systems is
essential for smooth business operations, ensuring that
employees can easily commute to work and that the
company’s services are efficiently provided to customers.

5. Comparing the two sites, which one might be most

appropriate for the new call center?

When comparing the two sites, Site B seems to be the more

appropriate choice for the call center despite the higher rent
and required upgrades. The main advantages of Site B are its
central location near amenities and excellent transport links.
These factors make it easier to attract university-educated,
multilingual employees, as the site offers convenient access
to leisure facilities and a well-connected transport network.
While Site A offers lower rent and government support, its
location on the outskirts of the city and lack of nearby
amenities might make it harder to recruit and retain
employees. Therefore, Site B’s location in a vibrant,
accessible area outweighs the initial cost considerations,
making it a better fit for the company’s long-term needs.

________________________________________________________

market research collection, presentation and analysis of information

relating to the marketing and consumption of goods and services

Identifying and Understanding Customer Needs

1.​Importance of Identifying Needs:

○​ Businesses become more successful when they supply
products that meet customers’ needs.
○​ Gathering information is necessary to identify these needs.
2.​Example: Vacuum Cleaner Manufacturer
○​ Must identify what features are important to customers.
3.​Key Customer Needs for Vacuum Cleaners:
○​ Model Design and Style: The overall look and appeal of
the product.
○​ Colour: Aesthetic preference, which might vary by
customer.
○​ Durability: Long-lasting products are typically preferred.
○​ Efficiency/Performance: How well the product works (e.g.,
suction power, cleaning ability).
 ○​ Ease of Handling: Comfort and convenience during use
(e.g., lightweight, ergonomic design).
○​ Ease of Storage: Compact or easy-to-store designs for
convenience.
4.​Methods for Gathering Information:
○​ Surveys
○​ Focus groups
○​ Online reviews
○​ Competitor analysis
5.​Outcome of Understanding Needs:
○​ Tailoring products to customer preferences increases
satisfaction and business success.
○​ Businesses must adapt as customer preferences evolve.

Methods of market research

1.​Primary
2.​Secondary