EDEXCEL GCSE BUSINESS (1BS0)
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PINCC
Product Industry Name Customers Competitors
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Purpose Of PINCC
To analyze a company by its main features
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Demand
Quantity of a good or service consumers are willing to buy
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Obsolete
Decrease in sales over time
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Risks
Business failure, financial loss, lack of security
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Rewards
Business success, financial rewards, independence
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Ways to add value
Quality, design, Unique Selling Point, branding
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USP
Unique Selling Point
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Entrepreneurs Skills + Qualities
Cooperation, persuasiveness, confidence, intelligence, truthfulness, honesty
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Role Of Business Enterprise
Investing money, pricing products, selling goods, advertising, meeting customer needs, adding value
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How new ideas come about
Not provided in notes
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Revenue
Money received from consumer purchases
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Examples on where you can get revenue off of
Rent, returns on investments, interest earned
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Fixed costs (can change)
Rent, insurance, salaries
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Variable Costs
Raw materials, production costs, sales costs
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Profit
Total revenue minus total cost
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Interest
Additional cost charged for borrowing money
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Interest (Formulae)
(percentage/100) x money borrowed
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Interest Rate (Formulae)
(total repaid - money borrowed) / (money borrowed) x 100
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Break Even
When costs and revenue are equal (profit=0)
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Break Even (formula)
Fixed costs / (selling price - variable costs)
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Margin of Safety
Actual sales minus break even output
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Aims
Long-term business goals
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Objectives
Short-term actions to achieve aims
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Overdrafts
Taking out excess money from a bank
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Trade Credit
Obtaining supplies and paying at a later date
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Short Term Finance
Borrowing money to be repaid in a few weeks
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Long Term Finance
Borrowing money to be repaid over several years
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Crowdfunding
Obtaining money from others without repayment
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Venture Capital
Funding given to start-up companies for potential success
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Grants
Funds provided by the government without repayment
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Mortgage
Loan for a building with the building as collateral
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