IGCSE & A LEVELS GUIDE

Chapter 21 - Marketing Analysis Learning Objective: To understand the different factors impacting elasticity of demand I hope you remember the concept of price elasticity of demand... It is the measure of responsiveness of demand for a product following a change in its price. In other words it measures how price influences demand. The demand for different products react differently following a change in price: Having such information is of key importance for marketing decisio

Chapter 16 - Human Resources Management Strategy Learning Objective: Strategies for improving workforce performance; the use of technology in HRM Now that you fully understand the different methods of measuring employee performance (productivity, absenteeism, wastage rates, rejection rates, consumer complaints, performance vs. targets), let's go on further in the issue and discuss strategies for improving employee performance. The main reason for poor employee performance has

Chapter 16 - Human Resources Management Strategy Learning Objective: To understand additional methods of flexible working; to understand the different measures of employee performance. As we learned, there are many ways employers are now trying to attract skilled workforce by offering different types of flexible contracts. Part-Time and Contractors is just the beginning. There are many more: Flextime Arrangements: allows an employee to alter the starting and/or end time of he

Chapter 16 - Human Resources Management Strategy Learning Objective: To understand the differences between hard and soft HRM Human Resource Management (HRM) is the strategic approach to the effective management of an organization's workers so that they help the business gain a competitive advantage and meet its objectives. Having a Human Resource Management Strategy, therefore, is of immense importance: a long-term plan for the management of an organization's Human Resources.

Chapter 15 - Leadership Learning Objectives: To understand the many characteristics and roles of leaders. Leadership involves setting directions that others will be ready to follow and therefore it has a large impact on an organization's success. Characteristics of the best leaders: Self-confidence in success; Innovative and encouraging of others; Multi-talented to follow multiple topics; Inspirational; Honesty, integrity, ethics; Good communicator; Empathy and emotional inte

You should now be clear that Strategic Analysis is the process of conducting research into the business environment within which an organization operates, and into the organization itself, to help form future strategies. One step ahead, after acquiring a clear view of the business and its environment, is Strategic Choice: Identifying strategic options and choosing between them; Good strategic options have the following features: - They create a competitive advantage to the bu

As we all know there are three main stages on formulating a Corporate Strategy. We will now start focusing on the first one - Strategic Analysis: Strategic Analysis is the process of conducting research into the business environment within which an organization operates, and into the organization itself, to help form future strategies. Strategic Analysis answers three big questions: Where is the business now? How might the business be affected by what is happening or likely t

Chapter 8.1 - Business Strategy Learning Objective: Strategizing (8.1) Strategy: long-term decisions that will push the business towards its SMART objectives: Strategic decisions include products, markets, pricing; Such decisions are made by senior managers/directors; Strategy provides integration, direction, and focus. There are four main influences on the formulation of a Corporate Strategy: Availability of Resources Resources are scarce/limited; A good Corporate Strategy m

Chapter 6 - External Influences on Business Activity Learning Objective: 6.1 External Influences on Business Activity It's no news that the only constant is change. Businesses operate in dynamic environments compromised of laws, political and social factors, economic conditions, level of technology, competitors and suppliers, international trade links, and environmental pressures. Decision-making is closely dependent on such external forces which, therefore, need to be thorou