Cambridge · O Level · Syllabus 7115
Business Studies
6 topics6 with notes
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Form 3 3 topics
- Understanding business activity Businesses combine factors of production to produce goods and services that satisfy needs and wants; added value; specialisation; the economic problem and opportunity cost.
- People in business Why people work; motivation theories – Taylor (money), Maslow (hierarchy of needs), Herzberg (hygiene factors and motivators). Financial rewards (wages, salaries, bonuses, commission, profit sharing) and non-financial methods (job rotation, job enrichment, teamwork, training, opportunities for promotion).
- Marketing Role of marketing; market changes; niche versus mass marketing; market segmentation (age, gender, income, location, lifestyle).
Form 4 3 topicsExam year
- Operations management Productivity (output per worker); improving efficiency (training, technology, motivation); inventory management (buffer inventory, reorder level, just-in-time); lean production (kaizen, JIT).
- Financial information and decisions Needs (start-up capital, working capital, capital expenditure and revenue expenditure); internal sources (retained profit, sale of assets, owner's savings) and external sources (loans, overdrafts, share issues, trade credit, leasing, hire purchase, microfinance, crowdfunding); choosing finance.
- External influences on business activity The business cycle (growth, boom, recession, slump); government objectives (growth, low unemployment, stable prices, balance of payments); government policies (taxes, interest rates, exchange rates, spending) and their effects on businesses.