127 Business Studies O Level IGCSE Topical Workbook

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1 UNDERSTANDING BUSINESS ACTIVITY 5
1.1 Business Activity 5
1.1 ANSWER KEY 9
1.2 Classification of Business 11
1.2 ANSWER KEY 9
1.3 Enterprise, Business Growth and Size 17
1.3 ANSWER KEY 26
1.4 Types of Business Organisation 31
1.4 ANSWER KEY 45
1.5 Business Objectives and Stakeholder Objectives 53
1.5 ANSWER KEY 65
2 PEOPLE IN BUSINESS 71
2.1 Motivating Employees 71
2.1 ANSWER KEY 82
2.2 Organisation and Management 89
2.2 ANSWER KEY 103
2.3 Recruitment, Selection and Training of Employees 110
2.3 ANSWER KEY 126
2.4 Internal and External Communication 135
2.4 ANSWER KEY 143
3 MARKETING 147
3.1 Marketing, Competition and the Customer 147
3.1 ANSWER KEY 160
3.2 Market Research 167
3.2 ANSWER KEY 172
3.3 Marketing Mix 175
3.3 ANSWER KEY 208
3.4 Marketing Strategy 225
3.4 ANSWER KEY 238
4 OPERATIONS MANAGEMENT 245
4.1 Production of Goods and Services 245
4.1 ANSWER KEY 266
4.2 Costs, Scale of Production and Break-Even Analysis 279
4.2 ANSWER KEY 296
4.3 Achieving Quality Production 304
4.3 ANSWER KEY 310
4.4 Location Decisions 313
4.4 ANSWER KEY 319
5 FINANCIAL INFORMATION AND DECISIONS 323
5.1 ANSWER KEY 331
5.2 Cash-flow Forecasting and Working Capital 336
5.2 ANSWER KEY 346
5.3 Income Statements 351
5.3 ANSWER KEY 356
5.4 Statement of Financial Position 359
5.4 ANSWER KEY 364
5.5 Analysis of Accounts 366
5.5 ANSWER KEY 377
6 EXTERNAL INFLUENCES ON BUSINESS ACTIVITY 383
6.1 Economic Issues 383
6.1 ANSWER KEY 383
6.2 Environmental and Ethical Issues 400
6.2 ANSWER KEY 413
6.3 Business and the International Economy 420
6.3 ANSWER KEY 428