Revision techniques

Flash cards/revision cards

These are useful for summarising content, key word definitions and important facts. Use colours to make certain things stand out – for example, you could use different colours for advantages and disadvantages or for key words. You can test yourself using the revision cards.

Mind maps

These are a really useful visual summary of information and you can put them on the wall. They allow you to show links between ideas and concepts. You can start by adding the topic to the centre of the diagram and then add the sub-topics around that and a summary of the information. New target market Geographic Improve product specification Digital Non-digital Exploration of new markets High price Low price

New packaging Advertising Price changes Adding value EXTENSION STRATEGY Create a mind map activity for a topic of your choice. Revise it!DRAFT Highlighting

Making notes and highlighting key areas to go back to is a good way of working out what you know and don’t know. You can then use these notes as you come to your final revision. You can use different colours to highlight different factors or different types of information. For example, there are four different forms of ownership for business start-ups that you need to know for R067. You could highlight:

• key terms in red • ownership in purple • advantages in green • disadvantages in orange.

• Sole trader – a business owned by one person. They can make their own decisions and do not have to share profits earned. However, the owner has unlimited liability. • Partnership – a business owned by two or more partners. They can share skills/experiences to run the business and make decisions. However, profits must be shared and there is a risk of disagreements. • Limited liability partnerships – a business owned by two or more partners but benefiting from limited liability. However, profits are still shared and disagreements may occur. • Private Limited Company – a business owned by shareholders with limited liability.

Additional capital can be raised by selling more shares with the permission of the other shareholders. Decision making may be slower, though.

Summaries On the revision pages of this book, you’ll find summaries of key ideas and themes. Use these to help you summarise the key points you’ll need to remember to answer questions on those topics. For example, you need to know the characteristics of successful entrepreneurs. You can make a summary of these yourself – and if you think through these points in the exam, you are more likely to remember them. Mnemonics A mnemonic is another useful way of remembering key facts by using the first letter of each of the parts to make up a memorable phrase. For example, the elements of the marketing mix are sometimes referred to as the 4Ps as the first letter of each element is P. This is a good way to remember Product, Place, Price and Promotion. Quizzes Many people enjoy quizzes, and creating and sharing quizzes with your friends and class is a great way to remember facts and concepts. You could suggest to your teacher that, in pairs, you create a quiz of ten questions each week and go through them with another pair – swapping answers. It’s also a good way for you to check your knowledge. Make a note of the areas where you really didn’t know the answer and add these to your revision list. Practice questions Doing past papers and practice exam questions is an essential part of your revision. It prepares you for answering different types of exam questions and allows you to become familiar with the wording of the questions used by OCR. DRAFT You should also use the mark scheme. This will help you understand how to get full marks for each question. It is helpful to highlight key words in exam questions so you’re clear what the question is asking before you answer it.