IGCSE & A LEVELS GUIDE

Chapter 18 - Market Research Learning Objective: To understand the basics of Market Research What is Market Research? "Market research is the action or activity of gathering information about consumers' needs and preferences, competitors, and the market itself." Market Research reveals important information about customers, competitors, and the market in which the business competes. It is useful for various reasons: It helps businesses understand what customers like and disli

Motivation is the desire of workers to see a job done quickly and well: By meeting their individual objectives, motivated workers drive companies to reach their own goals (MBO). Motivation is a management issue: effective managers are able to align workers' individual objectives to the business goal while maintaining motivation levels high. Highly motivated workers have positive impacts on a business productivity and efficiency. They are also more likely to be loyal (reduce t

Chapter 10 - Human Resources Management Learning Objective: To understand employee appraisal, career plans, and trade unions Human Resources Managers are responsible for a very complicated issue: Appraisal is about evaluating an employee's performance against pre-set objectives; Development, on the other hand, can take the form of new challenges and opportunities, trainings, promotions, etc. - motivation; Development and Appraisal are important parts of employee satisfaction

Chapter 10 - Human Resource Management Learning Objective: Understand various responsibilities of the HRM There are different reasons why a business might recruit new workers, for example: Business is expanding and need workforce to support the growth; When workers leave and need to be replaced. That's when the process of Recruitment & Selection comes in - a process made out of various stages that can either be handled by the business itself or outsourced to specialist recrui

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