IGCSE & A LEVELS GUIDE

Chapter 5 - Stakeholders in Business Lesson Objective: To understand what are stakeholders and what are their interests towards the business Stakeholders are any individual or group who are impacted or can impact a business activities/decisions. Stakeholders can be internal or external: Each stakeholders group have their own interests regarding the business and its activities. Let's look over some of these stakeholders and what are they interested in the most: Customers are l

Chapter 5 - Business Objectives and Stakeholder Objectives Learning Objectives: To understand the various business objectives Business Objectives! Objectives are important since they give businesses a target to achieve. When businesses run their operations to achieve their objectives, their activities will affect many different groups of people: stakeholders. Different businesses have different objectives - here are some of the most common ones: Survival: The biggest first ch

Chapter 4 - Types of Business Organization Lesson Objective: To understand franchises and joint-ventures Franchises which are nothing but a legal agreements between two firms, the Franchisor and the Franchisee (e.g. Tavan Bogd and KFC). This contract establishes that the franchisee has the rights to using the name, logo, and trading systems of an existing successful franchiser brand: Franchise is not a type of business organization such as sole trader, partnership, or limited

Chapter 4 - Types of Business Organization Lesson Objective: To understand the different types of organizations businesses can have. There are several different possibilities of structure a company in the private sector can have. Choosing the right one will depend on the nature and purpose of the business activity and it is of vital importance for the business itself. A sole trader is the most common and the simplest structure a business can have: Sole Traders are single busi

Chapter 3 - Enterprise, Business Growth, and Size Learning Objectives: To understand the importance of startups to economies We all heard that trendy word... Start-ups: A business start-up is a newly formed business. They usually start small but might grow bigger. Start-ups have a great importance in a country's economy and therefore governments support business start-ups in different ways: Low interest loans; Grants (e.g. lower taxation or other financial incentives); Rent-f

Lesson Objective: The Meaning of 'An Economy' (2.1) What do you understand by the word 'economy'? What is an 'economy'? An economy is the measure of all the resources and wealth in a country - everything produced and purchased within a country. An economy is the place where business activity happen. An economy is made of businesses in different sectors (the sectors of an economy): The primary sector of an economy is based on activities that extract raw materials from nature (

Chapter 1.2 - Business Activity Learning Objective: Business Activity: Specialization in Providing Goods & Services (1.2) Do you know one thing every business has in common? They all try to add as much value as possible to their products and services! Adding value is increasing the difference between the cost of producing a good/service and the price of selling. Businesses can add value in different ways: 1. The most common way of adding value is through production: turning r

Chapter 1.1 - Business Activity Learning Objective: The Purpose of Businesses (1.1) What do you think is the purpose of businesses? Business are there to provide us (customers) with goods and services to meet our needs and wants! Wait, but what are needs and wants? Let's understand this concept better: The business activity, therefore, is the process of producing goods and services to satisfy consumer demands! Another very important concept for us to learn today is the so cal