Summary IGCSE Business Revision Guide Checklis

IGCSE Level Business – Review

Instructions

Think about the work done to date and think about your
understanding to RAG your performance to date please be
honest.

Do not forget to think about the action plan/points towards
the end of the document.

• RED – I really struggle with this topic.
• AMBER – I have some understanding of this topic but
also have some questions/issues.
• GREEN – I am totally happy with this topic.



Student Name:

, TOPIC R A G COMMENT/DATE
Business activity and influences on
business
Business Objectives
• Businesses can have several
objectives:
• financial aims and objectives -
survival, profit, sales, market share,
financial security.
• non-financial aims and objectives -
social objectives, personal
satisfaction, challenge, independence
and control.
• Why business aims and objectives
change as businesses evolve:
• in response to market conditions
• technology
• performance
• legislation
• internal reasons.
Types of organisations
• The main types of business
ownership:
• sole trader
• partnerships
• limited companies (private and
public)
• public corporations.
• Characteristics relating to size:
• concepts of risk,
• ownership and limited liability
• public corporations – reasons for and
against public ownership
• ownership, control, sources of
finance, use of profits, stakeholders
and shareholders
• appropriateness of different forms
of ownership.
• Different forms of business
organisation:
• franchises

, • social enterprises
• multinationals.
Classification of businesses
• Primary, secondary and tertiary
activities:
• primary sector – extracting raw
materials from the earth
• secondary sector – converting raw
materials into finished or semi-
finished goods
• tertiary sector – provision of a wide
variety of services.
Decisions of location
• The main factors influencing
location decisions and relocation of
a business:
• proximity to market, labour,
materials and competitors
• nature of the business activity
• the impact of the internet on
location decisions - e-commerce
and/or fixed premises
• legal controls and trade blocs.
Business and the international economy
• Globalisation:
• concept of globalisation
• opportunities and threats of
globalisation for businesses.
• The importance and growth of
multinationals:
• benefits of a business becoming a
multinational
• benefits to a country and/or
economy where a multinational
company is located
• possible drawbacks to a country
and/or economy where a
multinational is located.
• Exchange Rates:
• Exchange rate calculation.

, • The impact of exchange rate
changes:
• on international competitiveness
• on importers and exporters
Government objectives and policies
• Government spending:
• to provide public service
• taxation and constraints on public
spending.
• How governments can affect
business activity:
• infrastructure provision
• legislation
• trade policy - membership of trading
blocs, tariffs.
• The effect of interest rates on:
• businesses
• consumer spending.
External Factors
• The external factors affecting
business decisions:
• social
• technological
• environmental
• political.
What makes a business successful?
• Measuring success in business:
• revenue
• market share
• customer satisfaction
• profit
• growth
• owner/shareholder satisfaction
• employee satisfaction.
• Reasons for business failure:
• cash flow problems/lack of finance
• not competitive
• failure to adapt to changes in the
market.
People in Business
Internal and external communication