Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Business > Mr Slattery Business > Flashcards

Mr Slattery Business Flashcards

1
Q

Factors of production (definition)

A

The inputs available to supply goods and services to the economy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Factors of production

A

Land, Labour, capital, enterprise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the sectors of the economy?

A

Primary (raw materials)
Secondary (manufacturing)
Tertiary (service based)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Adding value

A

Additions or improvements to something which makes it worth more than the cost of doing it

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How can value be added?

A

High quality, craftsmanship, prestige design, unique and different, convenience, branding

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Why is adding value important?

A

It allows the entrepreneur to make a profit
This gives the entrepreneur the incentive to be creative
It allows the business to charge a higher price
Makes you different and better than the competition

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Private sector

A

The part of a country’s economic system that is run by individuals and companies, rather than a government entity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Public sector

A

The proportion of the economy composed of all levels of government and government-controlled enterprises

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Third sector

A

Voluntary and community group, charities, social enterprises, cooperatives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Advantages of operating as a sole trader

A

Keeping all profit
Make all decisions
Self satisfaction
Remain private

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Disadvantages of operating as a sole trader

A

Unlimited liability
Hard work
Harder to raise finance
Can pay a higher % tax

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Advantages of operating as a partnership

A

Shared skills/ideas/resources
Easier to raise finance
Shared workload

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Disadvantages of operating as a partnership

A

Conflict over decision making
Shared profits
Unlimited liability
No continuity

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How is a private limited company different (Ltd) from a public limited company (PLC)?

A

A private limited company only sells shares to family and friends whereas a public limited company sells shares to anyone from the public who wants to buy them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Advantages of operating as a limited company

A

Limited liability
Easier to raise finance
Separate legal entity
Continuity
Pays corporation tax rather than income tax

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Disadvantages of operating as a limited company

A

Must be incorporated at Companies House (requires a fee)
You cannot set one up if you are bankrupt

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Multinational corporations (MNC)

A

A business which operates in many countries

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What do MNCs bring?

A

Job opportunities
Boosts the economy
Improves the skills of the workplace
Economies of scale
Improve local infrastructure
Better prices

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

What problems do MNCs cause?

A

Sweat-shop Labour
Local businesses can’t compete
Increase pollution
Import skilled labourers
Don’t always leave profits local
Can remove jobs from their own countries
Unethical

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Franchise

A

A business based upon the name, logo and trading methods of an existing company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Franchisee

A

The person that buys into the franchise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Franchisor

A

The owner of the franchise

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Advantages of franchises

A

The franchisee receives ongoing training and support
The franchisee is setting up a business that is already established
Allows for growth
The franchisor receives investment for marketing and growth

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

What are the costs involved in buying a franchise?

A

Initial franchise fee
Total investment
Royalties
Marketing fund
Building

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Q

Co operatives

A

It is owned and run by its members
Profits are shared among members (not a charity or not-for-profit organisation)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
26
Q

Advantages of cooperatives

A

It is legally straightforward
Cheap to set up
All involved are working towards a common goal (and so have motivation)
Limited liability for members

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
27
Q

Disadvantages of cooperatives

A

Capital may be small (members)
Lenders may be reluctant to sell
Weak management is possible
Large amount of decision makers (members)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
28
Q

What are the function areas?

A

Marketing
Production/operations
Human Resources
Finance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
29
Q

Market segmentation

A

The process of dividing a broad consumer or business market into sub-groups based on some type of shared characteristics

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
30
Q

Roles in the marketing function

A

Producing promotional materials
Monitoring and managing social media
Conducting customer and market research

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
31
Q

Roles of the Human Resources department

A

Recruitment, training, administering employee benefits, firing employees, health and safety, onboarding, HR compliance

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
32
Q

Retention

A

The ability to prevent employee turnover

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
33
Q

Recruitment

A

The process of finding, screening, hiring and eventually onboarding qualified job candidates

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
34
Q

Wages

A

Hourly or daily payments for work done during the day

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
35
Q

Salary

A

A fixed, agreed sum, payable at regular intervals

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
36
Q

What does the finance department do?

A

Estimate capital requirements, manage cash flow, analyse business performance, managing operations systems, preparing budgets, accounting, paying employee wages

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
37
Q

What does the production/operations department do?

A

Ensuring good quality
Managing logistics
Managing stock

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
38
Q

Logistics

A

Receiving deliveries and sending out finished goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
39
Q

Stock control

A

Maintaining stock levels and ensuring that the cost of holding the stock is minimised

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
40
Q

Ways of defining business size

A

Number of employees
Amount of capital invested
Sales turnover
Market share
Brand name and history
Assets
Profits

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
41
Q

Horizontal integration

A

When firms in the same industry and at the same stage of production combine

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
42
Q

Forward vertical integration

A

When you integrate with a business in front of you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
43
Q

Backward vertical integration

A

When you integrate with a business behind you

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
44
Q

Vertical integration

A

Occurs when a firm expands by combining with an existing business in the same industry but at different stages of production

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
45
Q

Advantages of vertical integration

A

Reducing your own costs
Controls the quality and delivery of raw materials
More powerful against competitors

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
46
Q

Disadvantages of vertical integration

A

Increase in costs (ie may need to appoint staff to run the business)
Inexperience in the new business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
47
Q

Diversification (also called a conglomerate)

A

Integration with a totally unrelated industry

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
48
Q

Why diversify?

A

To spread the risk
To obtain other sources of finance
To increase the range of products they make or sell

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
49
Q

Joint venture

A

A business arrangement where two or more parties agree to pool their resources for the purpose of achieving a specific task. The businesses remain separate in legal terms.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
50
Q

Advantages of a joint venture

A

Shared investment
Shared expenses
New market penetration
New revenue streams
Improved economies of scale

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
51
Q

Disadvantages of a joint venture

A

Risk of disagreements
The objectives of each partner may change, leading to conflict
There is likely to be an imbalance in levels of expertise, investment or assets

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
52
Q

Strategic alliance

A

Where two or more businesses work together, but it’s not a legally enforceable contract

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
53
Q

Benefits of strategic alliance

A

Reach a broader audience
Reduced costs
Provide a distribution system
Enter new markets
Share expertise and resources
Both grow market share

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
54
Q

Aims

A

The overall long term goals of the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
55
Q

Objectives

A

The specific and measurable results the business is trying to achieve

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
56
Q

Strategic objectives

A

The longer term specific objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
57
Q

Tactical objectives

A

The short term specific objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
58
Q

Operational objectives

A

The objectives of each functional area

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
59
Q

What does SMART stand for?

A

Specific
Measurable
Achievable
Realistic
Time-related

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
60
Q

Mission statement

A

The overriding goal of the business and the reason for its existence

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
61
Q

Why innovate (and invent)?

A

It grows your business
To adapt to change
To stay ahead of competition
To charge a higher price

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
62
Q

Problems with innovation (and invention)?

A

Very costly
Time consuming
Can end up wasting resources developing something that doesn’t sell
Risk of failure
Resistance to change to new ways of thinking
Employees may not be motivated to innovate

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
63
Q

Stakeholder

A

Anyone with an interest in the business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
64
Q

Internal stakeholder

A

Anyone within the business (eg employees)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
65
Q

External stakeholder

A

Anyone outside the business (eg customers)

66
Q

Job production

A

Making a unique and specific product to the customers order

67
Q

Batch production

A

Making a specific quantity of a product

68
Q

Mass/flow production

A

Making very large quantities of the same product on one machine

69
Q

Advantages of job production

A

Can meet specific wants and needs
Businesses can charge high prices
Motivated staff

70
Q

Disadvantages of job production

A

Time consuming
May be a while before customers pay you
Have to employ skilled workers/train staff
Have to break customer loyalty to other businesses
High cost of production
Only specific customers

71
Q

Advantages of batch production

A

Can make a wide variety of products
Greater quality control
More interesting for workers as there is variety
Producing in smaller quantities can reduce waste
Useful for seasonal items
Machinery isn’t continually active which reduces running costs

72
Q

Disadvantages of batch production

A

Errors with the batch will result in wasted time and costs
The product cannot be personalised to the individual customer
Time consuming to change between batches
Training costs
Periods of downtime when altering machinery

73
Q

Advantages of flow production

A

No downtime
Produce a high number of products at a low cost
Production can happen 24/7
Economies of scale
Cheaper staff as they are lower skilled
Reduced human errors

74
Q

Disadvantages of flow production

A

Difficult to alter the production process
All products have to be very similar or standardised
High cost of machinery
Repetitive and boring for workers -> lack motivation, low retention
Have to have a lot of storage available
Maintenance costs

75
Q

Cell production

A

The flow production line is split into a number of sections and each team or ‘cell’ is responsible for several parts of the finished product

76
Q

Specialisation

A

Where a business focuses on one type of product

77
Q

Division of Labour

A

Specialisation of Labour into separate tasks to ensure higher productivity per worker

78
Q

Advantages of specialising staff

A

Jobs are done efficiently
May be quicker at their job
Jobs are done to a higher standard
Organised workplace
Higher productivity
Workers have a defined skill set
Less waste

79
Q

Disadvantages of specialising staff

A

Have to train staff
May not be able to carry out other tasks
Harder to employ new staff with the same skill set
Boring and repetitive work

80
Q

Free float

A

The amount of time that an activity can be delayed without delaying the start of the next task

81
Q

Free float equation

A

Next tasks EST - this tasks EST - duration

82
Q

Total float

A

The amount of time that an activity can be delayed without impacting on the completion date of the whole project

83
Q

Total float equation

A

This tasks LFT - this tasks EST - duration

84
Q

Dummy run

A

A task that needs completing, but it’s delay has no impact anywhere

85
Q

Advantages of CPA

A

Reduces the risk and costs
Help spot which activities have some slack (‘float’)
Links well with other aspects of business planning such as cash flow

86
Q

Disadvantages of CPA

A

Reliability of CPA based on accurate estimates
Does not guarantee the success of a project
Resources may not be as flexible

87
Q

What does PERT stand for?

A

Program
Evaluation
Review
Technique

88
Q

Calculation for estimated duration of a project

A

((Optimistic time) + (4 x likely time) + (pessimistic time)) / 6

89
Q

What is a Gantt chart?

A

A graphical layout of tasks including start and finish times and when tasks can overlap

90
Q

Advantages of Gantt charts

A

Easy to schedule tasks
Easy to understand
Clear and visual representation of time frames
Helps manage resources
Allows you to balance multiple projects

91
Q

Disadvantages of Gantt charts

A

Difficult to prepare and manage
Updating the chart can be time consuming
All tasks are not visible in a single view
They don’t designate priorities
Don’t offer much detail

92
Q

Productivity

A

The ability to maximise the use of your inputs (workers and machines)

93
Q

Equations for productivity

A

Number of products / average number of employees
Number of products (output) / capital
Sales revenue / staff

94
Q

Capacity utilisation

A

The percentage of your potential capacity that you are currently using

95
Q

Capacity utilisation equation

A

(Actual output / potential output ) x 100

96
Q

Advantages of operating at high capacity

A

More output
Justifies wages and equipment

97
Q

Disadvantages of operating at high capacity

A

Breakages
Staff illness / stress

98
Q

Types of internal economies of scale

A

Purchasing
Production / technology
Marketing
Managerial
Financial
Risk bearing

99
Q

Purchasing economies of scale

A

Getting a discount for buying in bulk

100
Q

Production / technology economies of scale

A

Spreading the cost of production over more output

101
Q

Marketing economies of scale

A

Promoting the brand name

102
Q

Managerial economies of scale

A

Employing best specialist managers

103
Q

Financial economies of scale

A

Borrowing at cheaper rates of interest

104
Q

Risk bearing economies of scale

A

Spreading the risk over a range of products

105
Q

External economies of scale

A

When the average costs fall for the entire industry together

106
Q

Diseconomies of scale

A

When becoming a very large business eventually makes your costs go up

107
Q

Examples of diseconomies of scale

A

Staff morale
Staff working poorly in a big team
Communication problems
Poor cooperating between departments
Office politics
Impersonal relationship with customers

108
Q

Lean production

A

Ensuring everything is done to the best quality and produced as efficiently as possible

109
Q

Benchmarking

A

Identifying the best and trying to match it

110
Q

Continuous improvement (kaizan) / marginal gains

A

Improving everything by a small amount so that, over a period of time, overall performance is improved

111
Q

Total quality management (TQM)

A

Everybody is involved in checking quality where they work. The product will only move down the line once it passes quality checks

112
Q

Advantages of TQM

A

Eliminates defects and waste
Higher productivity
Reduced costs
Allows you to make the best products possible
Improves quality reputation
Ability to adapt to changing market conditions
Can spot errors quickly
Could set higher price

113
Q

Disadvantages of TQM

A

All of the company has to commit to quality improvement
Staff may need more training
Time consuming
May require more staff
May reduce output
Have to design the system
A fault could slow / stop production

114
Q

Jidoka

A

Technology which automatically stops production if a fault is spotted

115
Q

Ergonomics

A

Laying out the factory so workers, machines and tools are efficiently close and in the best place

116
Q

Just in time stock control

A

Involves keeping stock to an absolute minimum and the raw materials are ordered only when they are needed

117
Q

Advantages of just in time

A

Less warehousing
Less time consuming
Improves cash flow

118
Q

Disadvantages of just in time

A

Could run out of stock
Deliveries may be late
May have mistakes with orders

119
Q

Problems with having too much stock

A

Could get stolen / damaged / spoiled / lost
Expensive to store
Pay for extra insurance
Reduces available cash flow
Takes up a lot of room

120
Q

Calculation for average stock level

A

(Maximum level + minimum level) / 2

121
Q

Other stock control methods

A

Last in first out (LIFO)
First in first out (FIFO)
Electronic point of sale (EPOS)
Kanban - automatic re-ordering of minimum stock needed

122
Q

Automation

A

The use of robotic equipment in a manufacturing process

123
Q

Benefits of being automated

A

Fewer human errors
Having to employ fewer workers
Higher productivity
Reliability
More efficient use of materials
Time saving
Reduced training costs
Improved safety

124
Q

Disadvantages of being automated

A

Having to train staff to use the technology / employ specialist staff
High initial costs
Any errors would be time consuming
Expensive to replace / update / maintenance
Lose human interaction
May become dependent on technology
Inability to tailor / customise the product
Redundancy costs

125
Q

Customer service

A

Providing services to customers before, during and after purchase, to standards that meet their expectations

126
Q

Benefits of good customer service

A

Attracts repeat customers (customer loyalty)
Receive a good reputation
Can charge a higher price
Improve employee happiness (higher retention)
Remain competitive in the marketplace
Customer recommendations
Increase sales
Increase market share

127
Q

Examples of good customer service

A

Knowing your customers
Well-trained staff
Warrantees
Selling online

128
Q

External quality award

A

When a recognised awarding body gives you a formal award for reaching set measurable standards

129
Q

Factors affecting location

A

Rent (cost and availability)
Availability of labour
Close to raw materials
Close to customers
Infrastructure
Government grants

130
Q

Logistics

A

Plans, implements and controls the flow (and storage) of goods from the point of origin to the point of consumption

131
Q

Examples of logistics

A

Supply chain management
Distribution management
Warehousing
Distribution centres

132
Q

Procurement

A

The process of selecting suppliers, establishing the payment terms and negotiating the purchasing of goods

133
Q

Why do businesses need reliable suppliers?

A

Supply problems disrupt the business
Helps develop better business forecasts for finance and operations
Good and consistent quality is important

134
Q

Factors that impact decisions on logistics

A

Time
Reliability of supply
Length of supply chain
Costs
Customer service

135
Q

Warehousing

A

The storing of inventory (stock)

136
Q

Why is warehousing used?

A

To store more products in bulk before shipping them out to other locations or customers

137
Q

Problems with warehousing

A

Storage cost
No full control
Security costs
Requires more staff to operate it
Lack of space in public warehousing

138
Q

Advantages of warehousing

A

Improved efficiency and productivity
Safe and secure storage
Flexibility
Cost savings
Enhanced storage
Organised

139
Q

Corporate social responsibility (CSR)

A

When a company becomes socially accountable to itself, it’s stakeholders, and the public

140
Q

Why do businesses use CSR?

A

Customer retention
Increase employee engagement
Improves reputation
Attracts investment opportunities
Reduce business costs
Business growth

141
Q

Main examples of CSRs

A

Reducing carbon footprint
Improving labour policies
Ethical suppliers
Charity
Volunteering in the community
Social investments in the community

142
Q

Disadvantages of CSR

A

Can be expensive (for the firm and the customer)
Impacts of being in the public eye
May require skills the business lacks
May discourage certain investors
Less productivity
Might not be appreciated
Virtue signalling (doing something just to look good)

143
Q

Business plan

A

A report by a new or existing business that contains all of its research findings and explains why the firm hopes to succeed

144
Q

Examples of things included in a business plan

A

Objectives, strategies, sales, marketing and financial forecasts, mission statement, product/service, the company’s leadership team, employees, location, competitive analysis, suppliers

145
Q

What does a business plan do?

A

Helps reduce risk
May need to go to the bank for a loan to help with setting up
Provides a guide and a written strategy
To evaluate and update progress

146
Q

Advantage of business planning

A

Helps with applying for loans
Helps set targets
Helps monitor performance
Helps evaluate the business
Reduces risk

147
Q

Disadvantages of business planning

A

Often changes significantly
Ignores competitor actions
Too optimistic / pessimistic
Time consuming

148
Q

The plan-do-review model

A

Ensures that a project is still on track, achieving its aims and responding to any necessary changes

149
Q

Advantages of the ‘plan-do-review’ model

A

It forces a strategic approach
Helps to identify good and bad practice
Constant improvements and corrections can be made
It encourages Kaizen
Allows evaluation of the objectives set and methods used

150
Q

What does contingency planning involve?

A

Preparing for predictable and quantifiable problems
Preparing for unexpected and unwelcome events
An agreed plan of action is ready to put in place

151
Q

Why is a contingency plan likely to work well?

A

Ensures you’re prepared
Minimises the impact of an event
Helps you to get back to normal operations quickly

152
Q

Porter’s 5 forces model

A

Examines five forces that determine the competitive intensity of an industry
(How competitive the industry is and if it’s attractive to enter/remain in that market)

153
Q

The 5 forces examined in Porter’s 5 forces model

A

Threat of new entrants
Threat of substitutes
Bargaining power of buyers
Bargaining power of suppliers
Degree of rivalry

154
Q

Benefits of Porter’s 5 Forces Model

A

Helps to understand your competitive environment
Helps with decision making

155
Q

Disadvantages of Porter’s 5 Forces Model

A

The model only provides a snapshot
The results only focus on the short term
The model doesn’t give you an action plan

156
Q

Examples of non-financial measures of business performance

A

Productivity
Customer satisfaction
Employees
Conversion rate
Retention rate
Customer reviews
Company reputation
Customer relationships
Policies (eg environmental, equality)

157
Q

Examples of financial measures of performance

A

Final accounts (accounts to illustrate profit or loss)
Ratio analysis (interprets key performance indicators)
Gearing (ratio of debt to equity)
Cash flow
Budgets (financial plan for the future)
Variance analysis (difference between actual and budget figures)
Gross / net profit margin
Return on equity
Turnover

158
Q

Examples of qualitative forecasting

A

Delphi technique (expert opinion)
Brainstorming (bringing together a team of experts)
Consumer opinion / expectations
Leading academic opinions (university professors)
Frontline staff opinions (often sales staff)

159
Q

Advantages of qualitative forecasting

A

Flexibility to explore opinions, judgement and intuition from experts
Intuition when sales data is lacking
Can integrate various kinds of information
Valuable insight
Can choose an expert

160
Q

Disadvantages of qualitative forecasting

A

Errors in judgment
May be unexpected changes
May be biased
Can be too optimistic / pessimistic
No statistics to support it
Time consuming

161
Q

Time series analysis

A

Calculates the average over a period of time

162
Q

Elements of time series analysis

A

Raw data = looks at trends over time
Cyclical variations = looks at economic booms and downturns
Seasonal variations = takes into account seasonal factors (eg hotels at Christmas)
Random fluctuations = unexpected changes in trends (eg water shortage leads to boom in bottled water sales)

Business (21 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions