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JC Business Studies
JC Business Studies
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The Time Value of Money

http://www.youtube.com/embed/MhvjCWfy-lw?rel=0&hd=1&showsearch=0&showinfo=0&autoplay=0&wmode=transparent&iv_load_policy=3&modestbranding=0

We’ve all heard the phrase “Time is money.” But what do these two things actually have to do with one another? This video explains the math behind interest rates, revealing the equation that will allow you to calculate the future value of your money (if you wisely put it in the bank, that is).

Getting Started & Ownership Structures

Why start a business?

  • Challenge: Some people will become restless working for someone else, want more of a challenge
  • Profit: Setting up the business offers the chance of earning profits
  • New Ideas/Inventions:
  • Circumstances: People can be forced to set up their business due to unforeseeable circumstances e.g A redundant worker with a sum of money

Problems in setting up a business:

  • Right Product: getting the right product that will satisfy the needs for the customer fully e.g. Value for money
  • Cash Flow: new starts ups often fail because cash flow issues i.e. run out of cash
  • Premises: finding the... (More)

Management Skills - Communication

Communication: involves the exchange of information

Importance of Good Communication:

  • Gets work done: It would be impossible to run a business without communication. E.g Workers need to communicate in order to complete tasks and assignments
  • Improves coordination: Managers rely on effective communication to co-ordinate tasks around the world.
  • Benefits Industrial Relations: Need to discuss issues with employees before they escalate. If minor problems are left unresolved, they may develop into major ones.
  • Avoids costly mistakes: May cause Financial or Reputational (Bad PR)
  • Reflects a changing work-environment: Modern workplaces = More Teamwork. Communication is key in empowering workers. It’s a... (More)

The straight answer is its OK to use pencil .Rumors of its ability to fade are greatly overstated. Many people like to use pencil as they "tidy as they go" just make sure that the pencil is not too feint. Much easier to a rub out a wrong figure written in pencil than to use tip-ex for a mistake written using a biro. End of the day it's what you think is the best.