In this lesso I cover: Business cycle: Main stages of the business cycle, e.g. growth, boom, recession, slump Impact on businesses of changes in employment levels, inflation and Gross Domestic Product (GDP) How government control over the economy affects business activity and how businesses may respond: Identify government economic objectives, e.g. increasing Gross Domestic Product (GDP) Impact of changes in taxes and government spending Impact of changes in interest rates How businesses might respond to these changes

This is a word document with 6 tips and advice on how to achieve high grade in IGCSE English as a Second Language (ESL) I have also included some useful links to help you with your exam. Thank you in advance for taking these tips into account. Good luck for your exam.

Grade descriptions are provided to give a general indication of the standards of achievement likely to have been shown by candidates awarded particular grades. The grade awarded will depend in practice upon the extent to which the candidate has met the assessment objectives overall and it might conceal weakness in one aspect of the examination which is balanced by above average performance in another. This document explain what is required of students in IGCSE Business Studies exam for grade A – F. Key points: A Grade ‘A’ candidate should demonstrate the following? A Grade ‘C’ candidate should demonstrate the following? A Grade ‘F’ candidate should demonstrate the following? You will find the answers inside. Thank you for your purchase

In this lesson I cover: The importance of globalisation: * The concept of globalisation and the reasons for it * Opportunities and threats of globalisation for businesses * Why governments might introduce import tariffs and import quotas Reasons for the importance and growth of multinational companies (MNCs): Benefits to a business of becoming a multinational and the impact on its stakeholders Potential benefits to a country and/or economy where a MNC is located, e.g. jobs, exports, increased choice, investment Potential drawbacks to a country and/or economy where a MNC is located, e.g. reduced sales of local businesses, repatriation of profits The impact of exchange rate changes: Depreciation and appreciation of an exchange rate How exchange rate changes can affect businesses as importers and exporters of products, e.g. prices, competitiveness, profitability (exchange rate calculations will not be assessed) I have also included some questions to help students remember the key points.

In this lesson I cover: Environmental concerns and ethical issues as both opportunities and constraints for businesses: How business activity can impact on the environment, e.g. global warming The concept of externalities: possible external costs and external benefits of business decisions Sustainable development; how business activity can contribute to this How and why business might respond to environmental pressures and opportunities: e.g. pressure groups The role of legal controls over business activity affecting the environment, e.g. pollution controls Ethical issues a business might face: conflicts between profits and ethics How business might react and respond to ethical issues, e.g. child labour I have included some key terms to remember for the exam. Question at the end to help remember the main points of the lesson.

In this lesson I cover: Profitability: The concept and importance of profitability Liquidity: The concept and importance of liquidity How to interpret the financial performance of a business by calculating and analysing profitability ratios and liquidity ratios: Gross profit margin Profit margin Return on Capital Employed Current ratio Acid test ratio Why and how accounts are used: Needs of different users of accounts and ratio analysis How users of accounts and ratio results might use information to help make decisions, e.g. whether to lend to or invest in the business I have also created a task students to help students remember the main outcomes of this lesson.

In this lesson I cover: What profit is and why it is important: How a profit is made Importance of profit to private sector businesses, e.g. reward for risk-taking/enterprise, source of finance Difference between profit and cash Income statements: Main features of an income statement, e.g. revenue, cost of sales, gross profit, profit and retained profit Use simple income statements in decision making based on profit calculations (constructing income statements will not be assessed) Explaining what Statement of financial position The main elements of a statement of financial position: The main classifications of assets and liabilities, using examples Interpret a simple statement of financial position and make deductions from it, e.g. how a business is financing its activities and what assets it owns, sale of inventories to raise finance (constructing statements of financial position will not be assessed) There is also a Task for students to complete to help them remember this topic.

In this lesson I cover: The importance of cash and of cash-flow forecasting: Why cash is important to a business What a cash-flow forecast is, how a simple one is constructed and the importance of it Amend or complete a simple cash-flow forecast How to interpret a simple cash-flow forecast How a short-term cash-flow problem might be overcome, e.g. increasing loans, delaying payments, asking debtors to pay more quickly Working capital: The concept and importance of working capital There is also a task at the end to help students remember what they have learnt in the lesson.

In this lesson I cover: The need for business finance: The main reasons why businesses need finance, e.g. start-up capital, capital for expansion and additional working capital Understand the difference between short-term and long-term finance needs The main sources of finance: Internal sources and external sources with examples Short-term and long-term sources with examples, e.g. overdraft for short-term finance and debt or equity for long-term finance Importance of alternative sources of capital, e.g. micro-finance, crowd-funding The main factors considered in making the financial choice, e.g. size and legal form of business, amount required, length of time, existing loans there is also an activity for students to get involved and remember.

In this lesson I cover: Why quality is important and how quality production might be achieved: What quality means and why it is important for all businesses The concept of quality control and how businesses implement quality control The concept of quality assurance and how this can be implemented

In this lesson I cover: Identify and classify costs: Classifying costs using examples, e.g. fixed, variable, average, total Use cost data to help make simple cost-based decisions, e.g. to stop production or continue Economics and diseconomies of scale: The concept of economies of scale with examples, e.g. purchasing, marketing, financial, managerial, technical The concept of diseconomies of scale with examples, e.g. poor communication, lack of commitment from employees, weak coordination Break-even analysis: The concept of break-even Construct, complete or amend a simple break-even chart Interpret a given chart and use it to analyse a situation Calculate break-even output from given data Define, calculate and interpret the margin of safety Use break-even analysis to help make simple decisions, e.g. impact of higher price Understand the limitations of break-even analysis

In this lesson I cover: The meaning of production: Managing resources effectively to produce goods and services Difference between production and productivity Benefits of increasing efficiency and how to increase it, e.g. increasing productivity by automation and technology, improved labour skills Why businesses hold inventories The concept of lean production: how to achieve it, e.g. just-in-time inventory control and Kaizen; benefits of lean production The main methods of production: Features, benefits and limitations of job, batch and flow production Recommend and justify an appropriate production method for a given situation How technology has changed production methods: e.g. using computers in design and manufacturing

In this lesson I cover: Marketing strategy Justify marketing strategies appropriate to a given situation: * Importance of different elements of the marketing mix in influencing consumer decisions in given circumstances * Recommend and justify an appropriate marketing strategy in given circumstances The nature and impact of legal controls related to marketing: * Impact of legal controls on marketing strategy, e.g. misleading promotion, faulty and dangerous goods The opportunities and problems of entering new foreign markets: * Growth potential of new markets in other countries * Problems of entering foreign markets, e.g. cultural differences and lack of knowledge * Benefits and limitations of methods to overcome such problems, e.g. joint ventures, licensing

Business studies - Mergers and Takeovers

Porter 5 Forces

Investment appraisal Explained

Operational Targets

Measuring Profit Margin

Cash flow activity

In this lesson, I cover. Marketing Mix 4 P’s Technology and the Marketing Mix