National 5 Business Management

Why organisations exist, the three sectors they operate in, and the different stakeholders with an interest in how they perform.

The attributes an entrepreneur typically needs, and how these support the creation and growth of a new business.

The external factors beyond an organisation's own control that can still significantly affect its activities and decisions.

The stages of recruitment, the methods used to select a candidate, and what a contract of employment sets out.

Why organisations invest in training staff, and the difference between on-the-job and off-the-job training.

Financial and non-financial methods of motivating staff, flexible working practices, and industrial action.

How a break-even chart shows the point at which a business's revenue exactly covers its costs, and how to interpret it.

How a cash budget forecasts money in and out of a business, and what it reveals about potential cash flow problems.

A simple income statement, showing how a business calculates its profit or loss for the year over a trading period.

The first two elements of the marketing mix: getting the product itself right through its life cycle, and choosing a pricing strategy that suits it.

The other two elements of the marketing mix: getting the product to customers, and communicating with them ethically and effectively.

Job, batch, and flow production: three different ways a business can organise how it actually makes its products.

Quality control, quality assurance, and quality inputs: three complementary approaches to maintaining product or service quality.

How existing and emerging technologies can make an organisation's production and operations more effective.

What a business considers when choosing a supplier, and the consequences of holding too much or too little stock.