1.1 The Purpose and Nature of Business Activity The purpose and nature of business activity is a straightforward introduction to the IGCSE course. However, it’s important to learn a simple definition for each new concept. You may be asked short answer definition questions like this one: Past Paper Question Example Paper 1 (a) Identify two
Classification of business is more likely to appear as a short answer questions on Paper 1 like this example: Past Paper Question Example Paper 1 (a) Define private sector ……………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………[2] 1.2.1 Primary, Secondary and Tertiary Sectors Basis of business classification The primary sector is extracting or growing natural resources
1.3.1 Characteristics of Successful Entrepreneurs An entrepreneur is someone who invests capital, takes a risk and starts up and operates a new business venture. Entrepreneurship drives business growth and innovation. You need to be able to identify and explain four different characteristics of successful entrepreneurs. ⭐⭐⭐Top Tip ⭐⭐⭐It’s helpful to have an entrepreneur who has
There are two types of questions which are normally asked: short answer knowledge questions about features of different types of business organisation and longer questions focused on analysis and evaluation of changing from one type of business organisation to another. Past Paper Question Example Paper 1 (a) Identify two features of a private limited
1.5.1 Businesses Can Have Several Objectives and the Importance of Them Can Change Need for business objectives and their importance Business objectives are simply aims or targets that a business sets out to achieve. So why are they important? Perhaps the best way of explaining the importance of business objectives is to imagine how a
2.1.1 The Importance of a Well-Motivated Workforce Why people work and what motivation means Motivation is the reason why employees work hard and effectively for a business. Why is it so important for a business to have motivated employees? Motivation improves productivity so motivated workers will work harder and produce more output, and the firm
2.2.1 Organisational Charts Organisational Structure is like the skeleton and nervous system of a business. It shows where power, authority, responsibility and status lie, and how communication flows throughout. Most likely, you will already have experience of how organisational structure and the associated concepts work from the hierarchy at your school, or a sports team
2.3.1 Recruitment and Selecting Employees Success or failure may depend on getting the right people to join a business team. If the business hits hard times, survival may depend on reducing the size of the workforce, and keeping the right employees to push the business back into profitability. Furthermore, training plays a crucial role in
2.4.1 Why Effective Communication is Important and the Methods Used to Achieve It Effective communication seems simple, but even between two people talking face to face there can often be misunderstandings. As business grows they have thousands of employees spread across hundreds of countries, speaking numerous different languages. We need to know the: different means
3.1.1 The Role of Marketing Marketing, Competition and the Customer is the introduction to marketing. It includes many of the basic concepts that will come up again and again throughout marketing, and indeed the wider course, so you may already be familiar with many of these ideas. ⭐⭐⭐Top Tip ⭐⭐⭐ Learn a clear definition for
