Edexcel Business A Level Revision

Business ethics - The moral principles that guide the way a business behaves. Corporate Social Responsibility - A business's initiatives regarding the community and environment and willingness to take responsibility for the effects the company's actions have on environmental and social issues and the impact on a range of stakeholders. Pressure groups - A group that tries to influence company policy in the interest of a particular cause. CSR is based on the concept that society needs business to employ staff, make investment and raise taxes from profits and the business needs society to create demand, to use public infrastructure, such as roads and power, and for legal protection. THE SHAREHOLDER CONCEPT Not all business organisations operate in a socially responsible manner. Some argue that it is not the job of businesses to be concerned about social issues and problems. The shareholder concept is closely associated with the writing of US economist Milton Friedman...

Batch production - Identical or similar items are produced together in groups (batches), each item passing through the production process at the same time, before moving onto the next Examples of batch production: Printers = printing a certain number of newspapers, magazines or books and then resetting their machines to produce a batch of another issue or titles Baker = produces a batch of 50 white loaves. Only after they are completed will he or she start baking 50 loaves of brown bread. Factory = produces a batch of size 14 t-shirts, then a batch of size 12 t-shirts Aims: Concentrate skills Achieve better use of equipment and so will produce good quality products more economically than manufacturing them individually.   BATCH PRODUCTION ADVANTAGES DISADVANTAGES Costs savings can be achieved when buying in bulk and allows for quicker and cheaper production of individual items Time consuming as it may take time to swi...