Business
Rational decision-making
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes Rational Decision-Making Traditional neo-classical economists believe that consumers act rationally by making decisions that maximise their utility. They also believe firms act rationally to maximise their profits. However, many economists have challenged this school of thought with […]
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Conflicts between macroeconomic policies
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes What are the three Macroeconomic Policies? Demand Side Policies – Shifts in AD Fiscal Policy – Government Spending & Taxation Monetary Policy – Interest Rates & Money Supply Supply Side Policies – AS shifts to the right […]
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Bartlett and Ghoshal’s Theory
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Exam Boards: Edexcel, AQA, WJEC, CIE, OCR Level: AS/A LEVELS/IB/IAL
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SWOT Analysis
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Exam Boards: Edexcel, AQA, WJEC, CIE, OCR Level: AS/A LEVELS/IB/IAL What is SWOT analysis? SWOT analysis is used by a business to identify the businesses internal strengths and weaknesses and its external opportunities and threats. Source: aqa.org.uk Example SWOT analysis Company: Coca Cola Strengths Opportunities Brand Customer loyalty Advertising/Marketing Distribution Economies of […]
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Trading Blocs
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Exam Boards: Edexcel, AQA, WJEC, CIE, OCR Level: AS/A LEVELS/IB/IAL What are trading blocs? Trading blocs are groups of countries that agree to reduce or eliminate trade barriers between themselves. Examples of Trading Blocs ASEAN – Association of Southeast Asian Nations APEC – Asia Pacific Economic Cooperation EU – European Union USMCA – […]
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Bartlett and Ghoshal’s Theory
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Bartlett and Ghoshal’s international, multi-domestic, transnational and global strategies What is the Bartlett & Ghoshal Theory? This theory examines the different approaches to managing businesses that operate internationally. It highlights two key factors in choosing how to manage an international business: The potential cost gains from being globally integrated (such as marketing, production or research […]
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National Minimum Wage (NMW) – Economics Revision – The Tutor Academy
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Level: AS Levels, A Level, GCSE – Exam Boards: Edexcel, AQA, OCR, WJEC, IB, Eduqas – Economics Revision Notes National Minimum Wage (NMW) The National Minimum Wage is the lowest level of hourly pay that an employer is allowed to pay an employee. The national minimum wage was introduced by the government to ensure […]
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Strategic Drift Theory
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Strategic Drift Theory Strategic drift occurs when the strategy pursued by business no longer fits with the external environment and trends around it. Therefore the service or product the business is currently selling is not suitable for the current trends or market conditions. Therefore the business will need to look into transformation and changing the […]
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Stakeholder Mapping Theory
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Stakeholder Mapping Understanding the role and importance of stakeholders What is Stakeholder Mapping? The stakeholder mapping theory sorts stakeholders out in terms of their relative power and interest. This theory highlights that not all stakeholders are the same. Stakeholders vary in terms of the power and influence they have on a business. Stakeholder Mapping Diagram […]
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Market Mapping Theory
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Market Mapping Theory Understanding markets and customers What is Market Mapping? This theory helps to analyse how products and brands are seen by customers relative to other products or brands in the market. It helps businesses identify where they are placed in a market compared to their competitors. This theory is also used by businesses […]
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