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Business Studies A Level Notes
Advanced Level Notes
Business Studies A Level Notes
Business Studies A Level Notes
ZIMSEC Advanced Level Business Studies Notes
Business and its Environment
Introduction to Business:
The nature and purpose of business activity
Levels of Economic Activity
The Economic Problem
Factors of Production
The concept of adding value
ree Market Economy
Advantages and disadvantages of a free market economy
Advantages and disadvantages of the command economic system
Private and Public Sectors:
Private Sector Businesses
Types of business organisations: Introduction
Sole Trader Business
Introduction to Limited Liability Companies
Private Limited Companies
Public Limited Companies
Introduction to Company Shares
Introduction to Debentures
Articles of Association, Memorandum of Association, Certificate of Incorporation
Public Sector Business
Types of Business Environments
The internal business environment
The external business environment
The Macro-economic and Micro-economic business environment
Size and Growth of Business
Ways of measuring the size of a business
Ways of Growing a Business: Introduction
Mergers and Takeovers
Advantages and Disadvantages of Mergers and Takeovers
Small and medium enterprises (SMEs)
The importance of SMEs
The problems faced by SMEs
Solutions Faced by SMEs in Zimbabwe
State and government Intervention in SMEs
Advantages and disadvantages of running a large business in Zimbabwe
Advantages and disadvantages of running a small business in Zimbabwe
Business aims and objectives
Advantages and Disadvantages of Objectives.
Strategic, Tactical and Operational Objectives
Mission Statement, business aims and vision statement
Business Objectives: Growth, survival, profit maximisation, providing a service, adding value
Conflict and objectives
Business Constraints and how they impact objectives
Business Ethics and corporate social responsibility
Importance of corporate social responsibility to the business and community
Importance of International Trade
Imports and Exports
ICT in Business
ICT in business: Introduction
Advantages and Disadvantages of ICT in Business
Business Formulation and Project Development
Purpose of a business plan
How to prepare a business plan
Components of a business plan
What is a business project?
Project formulation, implementation, identification, evaluation
Tools for Decision-Making and why they are needed
Critical Path Analysis (CPA)-Network Diagrams
Steps to follow when drawing a Network Diagram for Critical Path Analysis
Benefits and Drawbacks of Critical Path Analysis
What is Decision Tree Analysis?
Benefits and Drawbacks of Decision Tree Analysis
What is Cost Benefit Analysis?
Benefits and Drawbacks of Cost-Benefit Analysis
People in Organisations
Management and Management Functions
What are managerial roles?
Autocratic Leadership style
Democratic Leadership style
Laissez-Faire Leadership style
What are management theories
The theory of scientific management by FW Taylor
McGregor’s Theory of X and Y
Human Relations Management by Elton Mayo
Administrative Management by Henry Fayol
Understanding and Meeting Worker’s Needs in the Workplace
What is Motivation and why is it important?
Indications/Signs of a motivated workforce
Maslaw’s Hierarchy of Needs
FW Taylor’s Theory of Scientific Management
How managers can motivate using FW Taylor’s Theory?
Hezberg’s Two Factor Theory
Human Relations Theory By Elton Mayo
David McClelland’s Motivational needs theory
Vroom’s Expectancy Theory
What are motivational theories and are they useful?
Financial vs Non-Financial Ways to Motivate Workers
The Piece Rate System
Time Rate System
What is a commission?
What is a salary?
Human Resources Management
Purpose of communication
What is effective communication and why is it important?
The Communications Model
Popular communication methods their advantages and disadvantages
Communication channels and their advantages and disadvantages
Problems and solutions to using given communication channels
Business Communication Media
Factors affecting which choice of media to use
Informal vs Formal Communication
Barriers to communication
How to overcome barriers to effective communication
Role of management in faciliatating communication
Evolution of marketing
Production oriented marketing
Sales oriented approach
Marketing oriented approach
Differences between the marketing and market-oriented approaches
Common business functions: marketing, finance, human resources etc
The role of the marketing function
Marketing vs Selling
What is e-marketing?
What is Market segmentation?
Segmenting by demographics
Segmenting the market using geography
What is mass marketing?
What is Niche Marketing?
Differences between niche marketing and mass marketing
Introduction to marketing research and market research
What is market research?
What is primary research?
Common methods of collecting data during primary research
What is random sampling?
What is systematic sampling?
What is stratified random sampling?
What is quota sampling?
Interviews as a way of gathering data
Questionnaires as a way of gathering data
Surveys as a way of carrying out market research
What is secondary research?
Common sources of secondary research information
Data Analysis in Market and Marketing Research
Data analysis: Measures of central tendency
Data Analysis: Linear regression
Data Analysis: Measures of dispersion
Sales forecasting and why it is important?
Using market research to forecast sales
Forecasting sales using the Delphi method
Forecasting sales using time series
Forecasting sales using regression analysis
Demand and Supply concepts (Market Forces)
Factors affecting supply/Determinants of supply
Factors affecting demand/Determinants of demand
Importance of supply and demand: price floors, price ceilings, glut and black market
The elasticity of demand: Introduction
Price Elasticity of Demand
Income Elasticity of Demand
Cross Elasticity of Demand
Understanding and using results of elasticity of demand
Promotional Spending and Elasticity of Demand
Marketing Decisions and Elasticity of Demand
Marketing mix and marketing strategies
Impact of ICTs on marketing
Nature of operations: what is operations management and why is it important?
The three levels of production: Primary, Secondary and Tertiary
The Production Function
Production and Productivity
Labour Productivity and Efficiency
How labour and capital efficiency can be used in decision-making?
How to boost labour and capital efficiency
Effectiveness vs Efficiency
What is efficiency?
What is effectiveness?
What is value engineering?
Operations planning/organising production
What is job production?
What is batch production?
What is flow production?
What is line production?
What is continuous production?
Flow Production vs Line Production vs Continous Production?
Factors affecting which production method to choose
Capital intensive vs Labour intensive production
Reasons why a business may change its production method and challenges it will likely face
The production function: how to organise it
What is Lean Production?
What is outsourcing and what are its benefits?
Automation in Production
What is computer-aided manufacturing?
What is computer-aided design?
Flexible Management Systems (FMS)
Just-In-Time Strategy In Production
Total Quality Management (TQM)
What is Capacity Utilisation?
Factors affecting location and relocation
Production costing and why is it important?
The Costing Process
Types of costs and terms used in costing
What is Absorption Costing
What is Marginal Costing?
Absorption vs Marginal Costing Income Statement
Break Even Analysis
What are Fixed Costs?
What are variable costs?
Break Even Charts
Business Finance and Accounting
Business Finance: The Importance of Finance
Capital versus Revenue Expenditure
What is working capital?
What is working capital management and why is it important?
Ways of boosting working capital
Profitability vs Working Capital
Financial Markets: Sources of Capital
Longterm vs shorterm sources of finance
Retained Earnings as a source of finance
Sale of an asset as a source of finance
Reducing working capital as a source of finance
Debt as a source of finance
Bank loans as a source of finance
Mortgage as a type of finance
Debentures as a source of finance
Bank Overdraft as a source of finance
Bonds as a source of finance
Special and General Reserves as a source of finance
Shares as a source of finance
Ordinary Shares as a source of finance
Preference shares as a source of finance
Venture Capital as a form of finance
Grants and subsidies as a form of finance
Crowdsourcing as a source of finance
Debt Factoring As a source of finance
Hire Purchase As a source of Finance
Lease as a source of finance
Micro-finance as a source of finance
Trade Credit as a source of finance
Factors to consider when choosing a source of finance
Capital versus Financial Markets
Role of financial markets in business
The Zimbabwean Stock Exchange
The Reserve Bank of Zimbabwe
Commercial Banks in Zimbabwe
Merchant Banks in Zimbabwe
Development Banks in Zimbabwe
Discount Houses in Zimbabwe
The features and functions of money
Role of international financial institutions in Zimbabwe
The African Development Bank (AFDB)
The International Monetary Fund (IMF)
The World Bank
The African Import Export Bank
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