Paper 1 Business Revision Guide

A complete set of vocabulary flashcards covering the key theories, models, and legislation for Paper 1 Business revision including PESTLE, SWOT, Motivation, and Leadership.

PESTLE Analysis

A strategic framework scanning six macro-environmental factors: Political, Economic, Social, Technological, Legal, and Environmental.

SWOT Analysis

A planning tool assessing internal Strengths and Weaknesses, and external Opportunities and Threats, to support strategic decision-making.

SMART Objectives

A framework ensuring targets meet five criteria: Specific, Measurable, Achievable, Relevant, and Time-bound.

Porter's Five Forces

A competitive analysis model developed by Michael Porter in $1979$ examining Competitive Rivalry, Supplier Power, Buyer Power, Threat of New Entrants, and Threat of Substitutes.

Ansoff's Matrix

A strategic growth framework offering four options based on products and markets: Market Penetration, Market Development, Product Development, and Diversification.

Boston Matrix (BCG Matrix)

A product portfolio management tool categorising products by market share and market growth rate into Stars, Cash Cows, Question Marks, and Dogs.

Stars

Products in the Boston Matrix with high market share and high market growth that require investment to maintain.

Cash Cows

Products in the Boston Matrix with high market share and low market growth that generate income with low investment.

Question Marks

Products in the Boston Matrix with low market share and high market growth; uncertain and may need investment.

Dogs

Products in the Boston Matrix with low market share and low market growth; consideration should be given to removing them from the portfolio.

Power Culture

A culture identified by Charles Handy as centralised and shaped like a spider-web, where decisions are made by one person at the top.

Role Culture

A culture described by Charles Handy as a Greek temple, driven by rules, procedures, and hierarchy.

Task Culture

A culture described by Charles Handy as a net, which is project-based and values team expertise over hierarchy.

Person Culture

A culture described by Charles Handy as a cluster, focusing on individuals as seen in professional partnerships.

Maslow's Hierarchy of Needs

A motivational theory proposing that human needs are arranged in a five-level pyramid: Physiological, Safety, Social, Esteem, and Self-Actualisation.

Hygiene Factors

Factors in Herzberg's theory such as pay and working conditions whose absence causes dissatisfaction but whose presence does not actively motivate.

Motivators

Factors in Herzberg's theory such as achievement and recognition whose presence actively increases motivation and job satisfaction.

Belbin's Team Roles

Identifies nine team roles naturally adopted by people, clustered into Action Roles, People Roles, and Thought Roles.

Tuckman's Team Development Model

Describes five stages of team progression: Forming, Storming, Norming, Performing, and Adjourning.

Autocratic Leadership

A leadership style where the leader makes all decisions alone with strict, top-down control.

Democratic Leadership

A leadership style where team members are consulted and involved in decision-making.

Laissez-faire Leadership

A leadership style where full autonomy is given to the team with minimal manager intervention.

Matrix Structure

An organisational structure where employees report to two managers (function and project), offering flexibility but complexity.

Emotional Intelligence (EI)

A model by Daniel Goleman proposing five competencies: Self-Awareness, Self-Regulation, Motivation, Empathy, and Social Skills.

Eisenhower's Matrix

A time management tool dividing tasks into four quadrants based on urgency and importance: Do First, Schedule, Delegate, and Eliminate.

Kolb's Learning Cycle

A four-stage experiential learning model: Concrete Experience, Reflective Observation, Abstract Conceptualisation, and Active Experimentation.

Gibbs' Reflective Cycle

A six-stage structured reflection framework developed by Graham Gibbs ($1988$): Description, Feelings, Evaluation, Analysis, Conclusion, and Action Plan.

Equality Act 2010

Legislation protecting against discrimination based on $9$ protected characteristics such as age, gender, race, and disability.

GDPR / Data Protection Act 2018

Legislation requiring personal data to be collected, stored, and processed lawfully and securely, enforced by the ICO.

Modern Slavery Act 2015

Requires businesses with a turnover over £$36$m to publish an annual transparency statement to prevent exploitation in supply chains.