Higher Business Management SQA

This subject is broken down into 35 topics in 5 modules:

  1. Understanding Business 9 topics
  2. Management of Marketing 10 topics
  3. Management of Operations 5 topics
  4. Management of People 6 topics
  5. Management of Finance 5 topics
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  • 5
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  • 35
    topics
  • 13,621
    words of revision content
  • 1+
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This page was last modified on 28 September 2024.

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Business Management

Understanding Business

Role of Business in Society

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Role of Business in Society

Role of Business in Society

Creating Jobs

  • Businesses play a vital role in providing employment opportunities thus contributing to economic growth.
  • A decrease in unemployment results in an increase in purchasing power of consumers, thereby driving demand for goods and services.

Producing Goods and Services

  • Businesses contribute to society by meeting the demands of consumers through the production of a wide range of goods and services.
  • They ensure the availability of essential items like food, clothing, housing, healthcare services etc.
  • New innovative products can enhance quality of life and increase work efficiency.

Investment in Research and Development

  • Businesses contribute significantly by investing in research and development.
  • This leads to technological advancements, innovations and improvements in product quality, all of which benefit society.

Contributing to National GDP

  • Successful businesses generate profits and add to the country's Gross Domestic Product (GDP).
  • An increase in GDP suggests a healthier economy with increased consumer spending.

Promoting Corporate Social Responsibility

  • Many businesses undertake initiatives to support social, environmental, and humanitarian causes referred to as Corporate Social Responsibility (CSR).
  • Businesses can support local communities by funding initiatives like education, healthcare, environmental conservation etc.
  • Businesses can promote workplace diversity and equal opportunities.

Paying Taxes

  • Businesses pay multiple types of taxes which provide considerable revenue to the government. This revenue is used for public amenities and services, infrastructure development and other government expenditures.

Providing Opportunities for Investment

  • Businesses present individuals, groups and other businesses with opportunities for investment.

Please note the roles and responsibilities of a business can vary depending on its size, industry and other factors. The above points provide a general overview of how businesses can contribute to society.

Course material for Business Management, module Understanding Business, topic Role of Business in Society

Business Management

Management of Marketing

Role of Technology in Marketing

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Role of Technology in Marketing

Section: Understanding the Impact of Technology on Marketing

  • Technology has dramatically transformed the field of marketing, expanding opportunities for business-customer interaction, data analysis and targeted advertising.
  • Emergence of digital platforms has enabled marketers to reach a global audience, personalise marketing messages and rapidly adapt to market trends.
  • The rise of eCommerce has influenced purchasing behaviour, leading to increased emphasis on digital marketing strategies.

Section: Use of Social Media in Marketing

  • Social Media has emerged as a powerful tool in marketing due to its vast reach and high user engagement.
  • Platforms like Facebook, Twitter, and Instagram allow businesses to promote directly to consumers, elicit feedback and build customer relationships.
  • Social media marketing requires careful content planning, regular engagement and prompt response to customer queries or complaints.

Section: Mobile Marketing and Apps

  • Mobile marketing engages customers through smartphones and tablets, capitalising on increasing daily screen-time to drive marketing messages.
  • A designed mobile app enhances customer experience, creates a direct marketing channel, and offers benefits such as loyalty rewards, appointments, and personalised content.
  • Mobile websites need to be customer friendly, responsive, and optimised for search engines to improve their visibility.

Section: Data-Driven Marketing

  • Data-driven marketing uses customer information to refine marketing strategies, predict trends and enhance decision-making processes.
  • Market analytics provide insights into sales trends, customer behaviour, and the overall effectiveness of marketing campaigns.
  • Data protection and privacy are critical when handling customer information to uphold trust and comply with legal requirements.

Section: Use of Artificial Intelligence (AI) in Marketing

  • Artificial Intelligence (AI) is being increasingly used in marketing for predictive analytics, programmatic advertising and customer segmentation.
  • AI chatbots and virtual assistants improve customer service by enhancing responsiveness, personalising interactions, and providing 24/7 support.
  • Leveraging AI in marketing automation can lead to cost savings and improved efficiency, but can raise ethical questions around data use and job displacement.

Section: Advantages and Challenges of Technology in Marketing

  • Technology in marketing can lead to customer satisfaction, competitive advantage and improved brand reputation, but it also necessitates continuous learning and adaption to technology changes.
  • Marketers must ensure their use of technology delivers value to customers, respects privacy norms, and aligns with their organisation’s ethical standards.
  • Mitigating cyber-security risks is also paramount, as failures can damage brand credibility and customer trust. High technology investment costs and digital skill gaps are other significant challenges.

Section: Future Trends in Marketing Technology

  • Technological innovations like augmented reality (AR), voice search, and Internet of Things (IoT) will continue to shape the future of marketing.
  • Integrating new technologies into marketing strategies can improve customer engagement and maximise returns, but should be implemented prudently and in line with business objectives.
  • To stay competitive, businesses will need to continually monitor emerging trends, embrace digital transformation and foster a culture of continuous learning.

Course material for Business Management, module Management of Marketing, topic Role of Technology in Marketing

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