Business Studies revision notes

One chapter for each section of the 7115 syllabus, with worked examples. Read a chapter, then practise it with real past-paper questions.

1. 1Understanding business activityWhy businesses exist, adding value, primary, secondary and tertiary sectors, public and private sector, enterprise and business plans, business size and growth, failure, types of business organisation and business and stakeholder objectives.11 min read
2. 2People in businessMotivation theories and methods, organisation charts and management, leadership styles and trade unions, recruitment, selection and training, redundancy and employment law, and effective communication.9 min read
3. 3MarketingThe role of marketing, changing markets, niche and mass marketing, segmentation, market research, the four Ps (product, price, place, promotion), e-commerce, marketing strategy, legal controls and entering foreign markets.12 min read
4. 4Operations managementProduction and productivity, lean production, job, batch and flow production, technology in production, classifying costs, economies and diseconomies of scale, break-even analysis, quality control and assurance, and location decisions.10 min read
5. 5Financial information and decisionsWhy businesses need finance and where it comes from, cash-flow forecasts and working capital, profit and income statements, the statement of financial position, and profitability and liquidity ratios.11 min read
6. 6External influences on business activityThe business cycle, how government taxes, spending and interest rates affect businesses, environmental and ethical issues, globalisation, tariffs and quotas, multinational companies and the effect of exchange rate changes.9 min read