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IGCSE Business Studies

These are comprehensive and concise IGCSE Business Studies Notes I used these notes as my main study preparation and they have been formatted to facilitate easy navigation and quick learning of the essential concepts. The notes are extremely well structured and can be relied on for study in closed or open book exams. The notes are exam focused material designed to anticipate the sorts of exam questions thereby ensuring that the student only focuses on knowing what is required to do well on the exam Topics covered in these notes include: 1.) Understanding business activity This section introduces the underlying ideas and concepts of business and includes the purpose and nature of business activity and how businesses can be classified. Enterprise and entrepreneurs, and why some businesses grow while others remain small are further important issues. How business size can be measured, types of business organisation, business objectives and stakeholder objectives are the concluding topics. 2.) People in business The focus is the functional area of human resources and includes the importance and methods of motivating a workforce. How businesses are organised and managed and the methods of recruitment, selection and training of employees are also considered. Finally, the section covers the importance and methods of effective internal and external communication. 3.) Marketing This section includes the role of marketing, the distinctions between niche and mass markets and the techniques of market segmentation. The methods and importance of market research are covered. The central role of the marketing mix, i.e. the four Ps, is made clear. Marketing strategies to influence consumer decisions at home and in new foreign markets are the final topics in this section. 4.) Operations Management The focus is the functional area of production and includes the meaning and methods of production and how productivity can be increased. The different costs of production and break-even analysis are covered. The section concludes with the importance and methods of achieving quality in the production process and location decisions of businesses. 5.) Financial information and decisions This finance and accounting section covers the need for and sources of business finance, cash-flow forecasting and working capital. Simple income statements are covered as well as statements of financial position and the analysis of accounts including why and how accounts are used. 6.) External influences on business activity This section focuses on different external influences on business activity and how these impact on a business. It includes government influences on economic, environmental and ethical issues and how they impact on the functional areas of businesses. In addition, the international economy including globalisation and its effects on businesses and governments, multinational businesses and exchange rates are important issues. Legal constraints are an external influence to be considered but these influences are covered in the relevant functional areas above, as well as in this last section. Using these notes, I was able to achieve an A* in my IGCSE Business Studies with a Percentage Uniform Mark of 92%. I hope that you can use these notes as effective as I did. Good Luck!