Thursday, 20 September 2018

Tools for success in business - Break Even Point






Hi Year 12


I have listed below the skills that you need for the different grades that are available.


Learners should for a PASS (C):


  • Be able to define break-even - the point that a business has made enough money through product sales to cover the costs of making the product (no profit and no loss)

  • Be able to interpret (point out or identify) from a break-even chart: the 

  • break even point
  • profit
  • loss
  • variable costs
  • fixed costs
  • total revenue
  • total costs
  • margin of safety
  • Be able to calculate the break-even (formula will be given in the given assessment) using method 1, 2 or both




Todays note pack and activities can be found here








Learners should for a MERIT (B)
Learners should for a DISTINCTION (A)


  • Analyse the effect on the break-even point if sales or (fixed and variable) costs change, and explain the impact of these changes on the business. 
Homework 3 Week 3 

Monday, 17 September 2018

Learning Outcome B Planning tools for success

Topic 3 (B.1) Understand the planning tools businesses use to predict when they will start making a profit

To answer all the 'online assessment' questions on this next topic on the course:

Learners should for a PASS (C):

  • Be able to define break-even - the point that a business has made enough money through product sales to cover the costs of making the product (no profit and no loss)
  • Be able to interpret (point out or identify) from a break-even chart: the 

  • break even point
  • profit
  • loss
  • variable costs
  • fixed costs
  • total revenue
  • total costs
  • margin of safety
  • Be able to calculate the break-even (formula will be given in the given assessment) using method 1, 2 or both

Method 1 - Contribution Method   For a PASS


Break-even point    =                            total fixed costs
       (output)                    selling price per unit - variable cost per unit


Method 2 - The Break Even Point - (BEP) Graph Method or Seven Steps to Break Even Heaven click here

Learners should for a MERIT (B)
  • Be able to analyse and explain the value and importance of break-even analysis to businesses when planning for success 
  • Analyse and explain the associated risks to a business of not completing a break-even analysis 
  • Present the given information graphically on a break-even chart 

Learners should for a DISTINCTION (A)


  • Analyse the effect on the break-even point if sales or (fixed and variable) costs change, and explain the impact of these changes on the business. 

NEXT STEPS in our next lesson - click here

Homework 3 Wk 3

That's all you need to know for topic three now test yourself here

Good luck and enjoy


Mr T

PS if you haven't bought a core textbook the link here might be useful or alternatively you could get a second hand one or dare I say take a trip to use a free one in the library as they are ordering some for in there!

Sunday, 16 September 2018

Unit 7 - European Destinations P3 M2 D1

Hi Year 13


For P3 we need to look at the FACTORS and FEATURES that determine the APPEAL of TWO leisure destinations in Europe for different visitor types.


Select two destinations need to be from two different types of resorts e.g. beach, winter sports, countryside or cities.


You need to explain what type of visitor would be attracted to this resort and use the list of features and factors below to demonstrate how the destination will appeal to that visitor type.  The types of visitors you need to consider for each of the two resorts include:
  1. Solo travellers
  2. Couples - be they teenagers, young professionals, empty nesters or retired
  3. Families with young children and or teenage children
  4. Groups by age, event, shared interest.



Demonstrate how the factors and features below would appeal to TWO selected types of visitors:
  • Climate - how many hours of sunshine, mm of rainfall, snow does this location get and are the  seasons very different and how? You should also comment of the temperature all year around if that relevant i.e. don't go there in monsoon season or no snow for skinning in the spring
  • Natural and built attractions - include any beaches, mountains, forests, lakes, conservation areas as well as any leisure parks, museums, art galleries, historic buildings, nightlife and any shopping malls
  • Cultural should include any signature food and drink specialities, different religious behavioural considerations for visitors and any cultural events that occur annually
  • Accessibility should focus on transport options form the UK market by air, sea, rail and road. indicated how long the journey and transfer time would take.
  • Economic should discuss any low cost travel options, the impact of exchange rates, the cost of staying in the destination and the perceived value for money 
To secure the distinction you need to focus on ONE of the chosen destinations and give detailed and realistic RECCOMMENDATIONS of how this destination could increase its APPEAL for DIFFERENT types of visitors from the UK


A wee PowerPoint is here if you still need some more self help!


Good luck and remember you are all aiming for a DISTINCTION this year


Mr T


Deadline Wednesday 3rd October 2018

Thursday, 13 September 2018

Thank goodness for Friday's

Dear Year 10

Whos birthday was it last and yes we do now have time to sing to him as we hand over the birthday batten to him?

Current affairs quiz

Individual and Tutor Photo 10am in the main hall.

Jeans for Genes Day next Friday £2 each not £1.

Inset day 28th September 2018.  What else is happening that day?

Christmas Market 2018 who wants to be involved and what would you like to do?

Have a good weekend

Mr T


Year 12 L2 Lesson 2 Fixed costs, variable costs and making a profit

Dear Year 12


  • Can we start by marking the homework?


  • Recap of last lesson here.  How many will you get out of 10?

  • Remind me how do we calculate revenue?

  • Notes
    There is a saying 

     "if the numbers don't add up on the spread sheet they wont add up in real life"
    Costs
    Running costs also know as operating costs or overheads
    Start up costs
    Fixed costs - also known as indirect costs
    A fixed cost, however, does not change in the short term so the rent of a factory at £500 per week will not change if the business makes 100 pizzas or 1000 pizzas

    Variable costs - also known as direct costs
    Remember variable costs are the cost of making one item so if you make 100 items this cost is multiplied by 100.

    Total costs = Variable costs + Fixed costs
    Calculating total costs then becomes obvious when you understand the different costs a business has to deal with.


    Key terms test 1
Understanding and calculating profit


Profit means that revenue is more than expenditure


Loss mean that the expenditure is more than the revenue


Profit = Total revenue  - total costs (expenditure)


If the figure is positive, then the business in making a profit
If the figure is negative then the business is making a loss


Work out the profit or loss for the following businesses:


1. Business A sells 20 items at £5 each and has expenditure amounting to £40


2. Business B sells 200 items at £10 each and has expenditure amounting to £800


3. Business C sells 15 items at £50 each and has expenditure amounting to £1000


4. Business D sells 25 items at £15 each and has expenditure amounting to £250


5. Business E sells 115 items at £50 each and has expenditure amounting to £6000





Activity Which is best?


On this course you need to know that there are TW0 types of profit.
Gross Profit & Net Profit but I think that's enough for today!



Well done for keeping up


Mr T





Profit = Revenue - expenditure
 



 

 









and this here a great revision resource also.




Mr T

P2 Unit 7 European Destinations



To complete this P2/M1 challenge you will need to identify EIGHT holidays types from the different locations in the different countries that you have identified on one of your maps in P1.

To do this well you should consider ALL of the following locations when meeting the different MOTIVATIONS of the four customer types:
  • city locations such as Milan, Paris and Athens
  • coastal locations such as Ile du Ray, Benidorm, Magaluf
  • purpose built holiday locations such as LEGOLAND, Disneyland Paris
  • natural locations such as the Alps
  • historical and cultural locations such as Venice, Rome, Berlin, Paris, Athens


You should also consider and talk about  the different types of holidays that meet the needs of these PEN PORTRAITS:
  • Short break holidays are no longer than 3-4 days
  • Single centre holidays are one destination holidays..  Which pen portrait does this satisfy?
  • Twin or multi centre holidays are very different and require your customers to pack up and transfer location.
  • Cruise holidays vary from 3 days to 84 days.  Is there an opportunity to use this type of holiday for one of your pen portraits?
  • Holidays that require you to tour around an area may meet the needs of those active customers or those wanting to visit many cultural or historical locations.  They could be coach holidays or campa van road trips but make sure that these are recommended for the correct motivation. 
So you need to identify TWO holidays from DIFFERENT countries for each of the FOUR customers pen portrait and then recommend your preferred holiday and explain why you think it is the best fit out of the two.  This provides evident for M1.


We have several lessons before then to hit this deadline so shout if you need anything


Mr T


Deadline is 3pm on Wednesday 19th September in the library 






Wednesday, 12 September 2018

P1 Unit 7 Euroean Destinations


Year 12 reading week challenge
 Unit 7 European Destinations


To PASS P1 you will need to submit four maps to allow you to identify the information in the task one below

Locate all countries, key gateways and key leisure destinations within the European travel market
 
Task 1 (This provides evidence for P1)
 
On blank maps of Europe that you will be provided with:
 
a)     Accurately locate all countries of continental Europe
 
b)     Research all EU, Schengen and Eurozone countries and create a key to ID all these on your map/ maps.
 
c)     Locate and code all key gate ways (1 air gateway with IATA code & 1 seaport per country,
PLUS Eurostar termini to UK market) IATA codes are the short international codes that ID the different airports.
 
d)     Locate two leisure destinations per country from the categories below:
 
-       Beach resorts
-       Winter sports
-       Countryside
-       Cities
-       Cruise areas
 
Deadline Wednesday 12th September 2018