121 Business Studies O Level Notes by Shahraiz Chishti

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121 Business Studies O Level Notes by Shahraiz Chishti Features: – Sufficient for excelling at both Paper 1 and Paper 2. – Complete course outline, paper pattern with concerned percentages – Concise yet comprehensive enough to be used as a quick revision guide. – Important topics discussed in greater detail to cater syllabus 7115 for O level and requirements. Business Studies O Level Notes written for students of Code 0450 IGCSE/ O levels Code 7115 Business Studies. The book covers the whole syllabus and is written in a concise manner. The book can be used as a primary text for covering the syllabus and at the same time can be used as revision text as it is written in a concise manner. The language used is simplistic so that students of all backgrounds/language ability can engage with the content of the book. Exam questions are not present in this book so it is highly suggested that students solve Past Papers to understand the paper pattern. The Author Mr Shahraiz Javed Chishti completed his MBA/BBA in Marketing and media with minor in social sciences from LSE and did his O levels from Aitchison College Lahore. The author has been a renowned teacher of O/A Levels Business, Commerce and Social Sciences. He has not only been a teacher but a debates coach as well. He has coached parliamentary debates and Model United Nations to multiple schools and was also the Co-Coach for the Pakistan team that went to the World Schools debating championship held at Stuttgart Germany. In his university he himself was an excellent public speaker who represented Pakistan in multiple competitions held in Germany, Malaysia, India, Macau, Thailand and Philippines. Following topics are covered in this book in the same order Business Studies O Level Notes Business Studies O Level Notes by Shahraiz Chishti sufficient for excelling at both Paper 1 and Paper 2. Complete course outline, Paper pattern with concerned percentages. Concise yet comprehensive enough to be used as a quick revision guide. Important topics discussed in greater detail to cater syllabus requirements. TABLE OF CONTENTS Ch: 1 & 2 Business Activity and Types of Businesses Needs Wants Factors of productions: The economic problem: Opportunity cost: Specialization Goods vs Private sector activities Public ownership Privatization: Ch: 3 Enterprise, Business Growth and Sales Enterprise and Entrepreneurship Entrepreneur Characteristic of successful entrepreneurs Why should governments support business startups Value of sales Which method should you choose? Ch: 4 Types of Business Organizations Private Sector Partnership Private Limited Companies Public Limited Companies Co-operatives Close Corporations: Joint ventures Franchising Public Sector Municipal enterprises Ch: 5 Business Objectives and Stakeholders Objectives Business objectives Stakeholder Groups Ch: 6 Motivation Theories Motivation Motivation Theories F(121 Business Studies O Level Notes by Shahraiz Chishti) Maslow Herzberg McGregor Why do people work? Wages Motivating factors – non-financial motivators Job satisfaction: Job rotation: Job enlargement: Job enrichment: Autonomous work groups or team-working: Leadership Formal and informal groups Formal groups in business Informal groups in business 121 Business Studies O Level Notes by Shahraiz Chishti Ch: 7 Organizational Structure Delegation Functional departments Decentralisation Role of Managers Trade Unions Ch: 8 Recruitment, Training and Human Resources Recruitment and selection Job Analysis and Description: Job specification Advertising the vacancy Internal recruitment External recruitment Job advertisement Applications forms and CVs/résumés Interviews Rejecting unsuccessful applicants Workforce planning Dismissal and Redundancy Ch: 9 Communication in Business Formal Communication Informal Communication Methods Motivation and Communication Effective communication Barriers to Successful Communication How to Improve Communication Grapevine Direction of communication Ch: 10 Marketing What is marketing? Product-orientated and market-orientated businesses What is marketing The Marketing department The objectives of marketing SWOT analysis Market segments The marketing mix Four C’s: Ch: 11 Market Research Why is market research needed? Primary research Ch: 12 Marketing Mix Product Product Types and classification Development phase Ch: 13 Pricing Strategies Price Elasticity of Demand Cost-plus Pricing Strategy Ch: 14 Promotions Promotion Legal and other constraints Internet Ch: 15 Place Channel of Distribution Agents Retailer Ch: 16 Marketing Strategy Legal constraints on marketing Ch: 17 Production Operations department: Stock control and inventory control Lean Production Techniques Kaien TECHNOLOGY IN BUSINESS Ch: 18 Break Even and Business Costs Costs Break Even Analysis Ch: 19 Quality What is quality Quality Control Quality Assurance TQM (Total quality management) Ch: 20 Factors Affecting Location Factors affecting the location of a manufacturing business Factors affecting the location of a retailing business Factors that influence a business to relocate either at home or abroad Factors affecting the location of a service sector business Roles of legal control Ch: 21 Financing Activities Working Capital External Sources of Finance Other Sources of Finance Factors Influencing Choices of Finance Ch: 22 Cash Flow Cash Flow Statement Limitations of Cash Flow Causes of Cash-Flow Problems Increase cash inflows Ch: 23 & 24 Income Statement and Balance Sheet Income Statement Assets Trade Receivables (Debtors) Accounts/Trade Payable (Creditors) Goodwill Ch: 25 Ratio Analysis Profitability Liquidity Ch: 26 Government and Economic Influences on Business Government economic objectives: Low inflation: Low levels of unemployment: Economic growth Balance of payments Fiscal Policy Monetary policy Ch: 27 Environment and Ethics Externalities Ch: 28 Business in the International Economy Globalization Points for globalization Multinational company References 121 Business Studies O Level Notes by Shahraiz Chishti