Cambridge IGCSE Business Studies 4th edition eBook PDF free direct download from GCE Guide. Cambridge IGCSE® and O Level Business Studies Fifth edition Consolidate knowledge with answers to all questions in the Student Book. This is the book An Introduction to Business (v. ). This book is (http:// caite.info) in an effort to preserve the availability of this book. Normally, the author.
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Business Studies Textbook - Ebook download as PDF File .pdf), Text File .txt) or read book online. Business Studies textbook, by Jacaranda. Synopsis: Give your students the best possible preparation for success in Business Studies with this 4th edition of Ian Marcouses bestselling textbook. - Suitable. Results 1 - 10 of 37 Download Business Textbooks Books for FREE. All formats available for PC, Mac , eBook Readers and other mobile devices. Large selection.
Successful managers are the ones who anticipate and adjust to changing circumstances rather than being passively swept along or. This ebook consists of two parts — beginner's and advanced, and it covers every SEO strategy possible to make it to the first page of google query. A partnership is similar to a sole trader in that the owner and the business are regarded as the same. Foreign competitors are those businesses located overseas or offshore. Do you think this trend will continue? Simply select the desired chapter from the drop-down list.
These businesses also provide employment for about 5. Businesses may be organised in a variety of ways. The four common methods used to classify businesses are: Although no two businesses are identical.
These businesses are referred to as micro businesses. Recent research undertaken by the Australian Bureau of Statistics ABS revealed that the majority of small businesses are not those that employ 10 to 20 people.
Local businesses such as these will frequently be used by consumers who live nearby. Australia is just one of the independent nations that are part of the global network. The consolidation of all these local communities is what forms the nation of Australia. Local A local business. The majority of local businesses tend to be small to medium in size. BizWORD Geographical spread is the presence of a business and the range of its products across a suburb.
It serves the surrounding area and is in no position to offer a range of products to another suburb or town. The main characteristics of micro businesses are that: As a result of the rapid expansion of these businesses over the past decade.
Apart from quantitative measures. These qualitative measures are based on personal observation about the business. This table also outlines the features of. It just means that many SMEs are based in the one location and. Smaller businesses do not usually have a large share of the total market sales and therefore have less control over such things as price. BizWORD A transnational multinational corporation is a company that has branches in many different countries.
From a qualitative viewpoint. If the business wishes to keep expanding. Started by George Coles and his brother Jim. Today the magazine operates more than 70 stores across Australia. With a history dating back years. The Australian Geographic magazine was started in by Australian entrepreneur and adventurer Dick Smith.
As a national business expands and increases its sales. Other well-known Australian businesses that serve the national market include: This allows the business to tap into new markets. Coles is a leader in Australian food retailing. Global A global business. Jag and Diana Ferrari. As a business grows. The company offers a wide range of fashion and accessories. As it does this. Founded in Melbourne in In Coles variety store in Collingwood.
Billabong designs. News Corporation. In a fully developed TNC. TNCs conduct a large percentage of their business outside their home country. New Zealand and Brazil. BHP Billiton. Transnational corporations come in many different forms and sizes. Established in Queensland in by Gordon Merchant. Determine the advantages for Billabong of producing products in a number of countries. To satisfy this increase in consumer demand. Von Zipper. Billabong employs about staff around the world.
Billabong products are distributed in more than countries and are available in approximately 10 outlets worldwide. Billabong is committed to ethical and responsible business practices and requires all suppliers to abide by its supplier code of conduct. This requires a sophisticated system to monitor the production and delivery schedules. It is currently the leading surfwear apparel brand in Australia. Honolua Surf Company.
Increase in sales. North America. Palmers Surf. Sector 9 and Tigerlily. Billabong originally manufactured only boardshorts. Riding the wave: For such companies.
Over the last decade. One way to do this is to serve a wider market. There is increasing uniformity among consumers around the world. BizWORD e-commerce is the buying and selling of information and products via the internet. This begins the struggle for market share. In the long term. Global consumers. Increase in market share.
Write the sentences in your notebook. Revision 1 Deduce whether the following businesses are small. Provide two examples of each. New Zealand. It produces gourmet macadamia nuts for domestic and export markets. It supplies clothes worldwide. There are three main types of industry groupings or sectors: On the information page: Another useful method used to classify businesses is based on the type of activity they undertake.
Business activity Food and drink Private or public enterprise Private Size: Due to the rapid growth in the tertiary industry over the last three decades. When businesses are involved in similar types of production. Business name 1. Extension 1 Construct a database of seven businesses that you have dealt with over the last few months.
Outline the criteria you used to classify the size of each business. Both companies have taken action against overseas suppliers over human rights issues and environmental codes of conduct. Ford and Toyota. Without them. Copy and then complete the following table.
Create either an oral or written report and present it to the rest of the class. To help you. Even though this sector employs only 4 per cent of the labour force. All production begins here. Examples of these businesses include all types of farming.
Examples include retailers. Secondary and Tertiary Industries weblink in your eBookPLUS to discover more about these industries in the past compared to what they are today. Steel and car manufacturers are both examples of secondary industry businesses. Over the past 50 years. Businesses in the tertiary industry provide a service. Weblink Use the Primary.
Due to this increase in numbers. Tertiary industry involves people performing a vast range of services for other people.
Examples include hospitality. Many small businesses in particular have recently begun providing these services. The quaternary sector is expected to undergo dramatic change over the next 20 years due to the rapid advances in telecommunications. BizWORD Quaternary industry includes services that involve the transfer and processing of information and knowledge. Examples include telecommunication.
Quaternary industry Quaternary industry includes services that involve the transfer and processing of information and knowledge.
Expansion in e-commerce and internet-based business activity will see an increase in the number of people employed in information processing and analysis. Quinary industry Quinary industry includes all services that have traditionally been performed in the home. Due to social and lifestyle changes. It includes both paid and unpaid work. Propose reasons why the primary sector accounts for only 4 per cent of total employment whereas the tertiary sector accounts for 77 per cent of total employment.
Discuss what this tells you about future employment prospects within the two sectors. The concept map has already been started for you.
Provide examples for each sector. Quaternary and Quinary. At the top of the columns put the headings Primary. From the list of businesses. The most common legal structure for a small business in Australia is the unincorporated business entity because this structure is the easiest and cheapest to establish. This means the business exists in its own right.
When the owner dies then so too does the business entity. An unincorporated business is a sole trader or partnership where the business entity and the owner are one and the same. Regardless of what happens to individual owners shareholders of the company. The business has taken on a life of its own. A sole trader is not regarded as a separate legal entity. This means that if the business is sued then the owner is sued.
This is referred to as unlimited liability. This type of business is easy to establish in terms of legal requirements. This responsibility may include selling personal assets.
Selecting the appropriate business structure is one of the most important decisions a business owner has to make. Jones or Paul Jones. Each of the different business structures is covered by different government regulations that must be followed and. BizWORD Unlimited liability occurs when the business owner is personally responsible for all the debts of his or her business. The owner may employ other people to work in the business. Sole trader businesses A sole trader is a business that is owned and operated by one person.
The advantages and disadvantages of being a sole trader are shown below. There are exceptions to this number. Partnerships A partnership is a legal business structure that is owned and operated by between two and 20 people.
A partnership is similar to a sole trader in that the owner and the business are regarded as the same. A written partnership agreement is not compulsory.
A partnership can be made verbally or in writing or by implication. A partnership agreement usually has a standard set of contents see the Biz Fact at left. Cut n curl hair studio: I wanted to be a hairdresser. We were young and quite naive. When I left school. Ever since I was in Year 8 at school. What changes to the management of the business have been the most important? Recall why Kristen and Michelle decided to purchase an established business. Would you like to take in another partner or even become a private company?
Not at this stage. Evaluate whether being a sole trader is a suitable type of legal structure for Kristen. I would worry that it could lose the friendly.
Deduce why drawing up a partnership agreement was a sensible thing to do. It is challenging but rewarding.
The only fee I have to pay is the yearly business registration. Why did you decide to purchase an established business? We both wanted a business that had a good reputation and a viable customer base.
How did this come about? Michelle wanted to begin a family. Above all else. Did you realise at this stage the risks you were taking? You started the business as a partnership but now operate it as a sole trader. Luckily they did! I think that was because Michelle and I had good reputations and over the years we had built up a large clientele of regular customers. I have an excellent team and greatly enjoy running the business just as it is. Explain the process by which the partnership was dissolved.
They are the only method of determining whether you are actually making any money. Clarify why Kristen would have to register her business. Did you have any business experience? Not a great deal. In our partnership agreement there was a section that dealt with how the business could be sold to one of the partners. I have begun a more orderly system of stock ordering and control.
Outline two new skills they might have had to learn to make the transition from employees to business owners. Identify the outside support services used by Kristen and Michelle. The one sensible thing we did do. Perhaps the most satisfying thing about operating as a sole trader is that the success of the business rests solely with yourself. I like the freedom of being a sole trader. Describe the key advantages and disadvantages Kristen has discovered in becoming a sole trader.
At the beginning it was stressful without having someone to share the burden and talk things over with. They are the ones who determine the success or failure of my business.
I found that I liked being solely in charge because I could make all the decisions. We had our accountant value the business and I paid Michelle half that amount.
Michelle and I just thought the customers would keep on coming. The process of incorporation is governed by the Commonwealth Corporations Act All companies are incorporated enterprises or have gone through the process of incorporation. Refer to the Biz Fact page 38 for ideas. This means that the company has become a separate legal entity from its owners shareholders.
Create a list of questions you should ask the owner before you sign the partnership agreement. The owner has offered you a 35 per cent partnership and you are going to accept. This separate legal entity means that the company can sue and be sued.
Justify your selection. Decide on a business name and then create a brief partnership agreement. Assess the accuracy of this statement. Investigate the following topics. Your business will specialise in designing home pages on the internet. Extension 1 a Explain why limited partnerships were introduced into some states of Australia.
In limited liability companies. To offset this risk. Once incorporated. Over recent years this advantage has been gradually reduced through legislation laws penalising directors of companies who make false or misleading statements see Biz Fact at right. For a business to become incorporated. Commission ASIC. A company can be organised as either a proprietary private or public company.
Under some circumstances. Directors accused of such unlawful behaviour may face common law suits and criminal charges. This Act was necessary for the expansion of companies because it offered a degree of protection to shareholders. Directors must be appointed to run the company on behalf of the owners.
Shareholders can only sell their shares to people approved of by the other directors. Whereas private companies tend to be small or medium-sized businesses. Public companies The shares for public companies are listed on the Australian Securities Exchange. BizWORD A proprietary private company is an incorporated business and usually has between two and 50 private shareholders. The main advantage of a private company is that shareholders have limited liability protection.
Proprietary private companies A proprietary private company is the most common type of company structure in Australia. It is not listed on. Private companies often tend to be small to medium-sized.
Shares in a proprietary company are only offered to those people the business wishes to have as part-owners. Optus World. Privatisation is the process of transferring the ownership of a government business to the private sector.
Australia Post and Great Southern Energy. Franchising — a popular form of business entity Under a franchise agreement a person buys the right to use the business name and distribute the goods or services of an existing business.
Australia followed this trend. Key considerations in setting up a franchise will be examined in more detail in chapter They are often referred to as public sector businesses and provide essential community services such as health. Tandy Electronics. BizWORD A franchise means buying the rights from another business to distribute its product under its name.
Examples include Railcorp formerly State Rail Authority. Due to the process of privatisation. Franchising has a success rate of almost three times that of independent businesses.
The business that grants the right to others to use its name and products is known as a franchisor. Predict and account for the likely trend in franchising over the next three years. Although only small in number — approximately — they are typically large. The franchisor supplies a known and advertised business name.
Beginning in the early s. Government enterprises Government enterprises are government-owned and operated. During the s. GBEs are owned and operated by all levels of government: Some well-known franchises include Bakers Delight. They are also known as government business enterprises — GBEs. The franchisee supplies the start-up money and labour.
Franchising is the area of fastest business growth in Australia. The business that buys those rights is known as a franchisee. A franchisee is an individual or business that purchases a franchise. A franchisor is an individual or business that grants a franchise.
Identify the training Gregg received from the franchisor. Gregg was inspired to take this up as his next challenge. I embraced the training with the intent to one day own my own Bakers Delight business. Appreciate the importance of such training. I had some experience but I think what got me ahead was a lot of heart and determination to succeed.
Without the solid training behind me. I would not be where I am today. Gregg achieved his dream of purchasing his own bakery. The Sydney Morning Herald. There are a number of advantages and disadvantages attached to operating a franchise. Revision 1 Explain the legal steps that are required to incorporate a business.
Identify what you believe to be the three main advantages and the three main disadvantages of a company form of business ownership. Explain why you chose each one. Companies have liability.
A There are two types of companies.
Justify what form of business ownership you would prefer. Partnerships have unlimited. From the list of businesses shown below. These companies must general public may buy and sell number of one shareholder and have the abbreviation have a in their names. At the top of each column put the headings Sole Trader. Public companies are listed on the in them. Private Company and Public Company. This person faces liability. Evaluate the performance of your share parcel over this period. Size of the business As sales increase and the business operations grow to meet this higher level of customer demand.
A second option is to operate as a franchise. Determine which option you prefer and justify your choice. One option is to open your own store and purchase your stock from a local wholesaler.
Present your arguments to the rest of the class. Most businesses begin their life as small or micro business enterprises. If sales continue to increase. These factors will change as the business expands. In reality. The structure should be reviewed as the business expands and develops.
The business will need to purchase new plant and equipment. Create a report outlining the information listed below. She asks you to advise her on the most appropriate legal structure. This money will be used to purchase new equipment. This is because a private company structure provides the owner with a large degree of control over who can become a shareholder of the business. Each business owner will make a personal decision that best suits the conditions at the time.
Sole traders and partnerships. The degree of ownership. Ownership structure If a business owner wishes to have complete control and ownership of a business.
If expansion is rapid. Finance As mentioned earlier. Of course. The prospectus provided details about the company to existing investors. A prospectus is a document giving details of a company and inviting the public to buy shares in it. Some businesses may establish themselves as public companies from the beginning. On the other hand.
Venture capital is money that is invested in small and sometimes struggling businesses that have the potential to become very successful. As the business continues to grow. Digital doc: BizWORD Venture capital is money that is invested in small and sometimes struggling businesses that have the potential to become very successful. The institutional shareholders have the game to themselves.
Assume you wish to establish a landscaping business.
Summary Revision 1 2 3 4 5 Explain the general relationship between the size of a business and its legal structure. Outline the reasons a sole trader would be motivated to alter the legal structure to become either a partnership or public company. Recall the percentage of all the shares sold that a person needs to hold in order to own and control a company. Have them explain to you the reasons for the business success. Give reasons for your answers.
This includes such factors as the syllabus subject matter. Businesses also have to deal with an ever-changing environment in which they operate. As a student. You have some degree of control over the factors that make up part of your learning environment.
If interest rates increase. This allows them to respond positively to changes that take place and prepare for the impact such changes will have on their business operations.
All business decisions about how and what to produce are affected by the environment in which the business operates. Successful business managers have a good understanding of the environment in which the business operates. There are many other factors within your learning environment. Influences in the business environment BizWoRD The business environment refers to the surrounding conditions in which the business operates.
Economic Markets Financial Geographic eLesson: Figure 3. The external environment includes those factors over which the business has very little control. They are continually undergoing change. The internal environment includes those factors over which the business has some degree of control. This may include the introduction of new government regulations that require the business to make adjustments. The business environment refers to the surrounding conditions in which the business operates.
It can be divided into two broad categories: External influences Internal influences If the business can respond positively to these influences. Although such an extreme situation would not happen in reality. In other words. Economic disaster! These cycles are a basic feature of our economic system. After a period of prosperity. The level of economic activity does not remain at a constant level.
Economic influences Imagine your local shopping centre to be a small-scale representation of the Australian economy. This completes the cycle. In periods of growth. No economic system works perfectly all the time under all conditions.
In the space of a few days. A business must work harder to gain sales. The government action shielded the Australian economy from the worst of the global recession. Explain why governments in rich nations introduced economic stimulus packages in early Outline the main cause of the —09 global economic crisis.
Lehman Brothers. World stock markets collapsed and world economic growth and trade severely declined with a consequent increase in unemployment. The state of the economy has a great impact on business.
These packages contained a mixture of immediate stimulus to encourage consumer spending and longer term infrastructure projects. The long-established US global investment bank. Predict the likely impact of a severe recession on most businesses. The policies implemented by the government are aimed at keeping the economy growing steadily. The economy is also affected by overseas trends — changes in trade. It was caused by the substantial increase in the number of US homeowners defaulting on their mortgage payments.
Like a house of cards. Expansionary economic policies were needed to act as a buffer against the deteriorating global conditions. Many businesses are supplying not just raw materials such as coal.
Characteristics of a recession period A recessionary period in an economy is characterised as follows: Reduced spending by consumers affects business as profits fall. Business can increase production and will require workers. Evidence of an expanding economy is seen with falling unemployment. Consumers become more cautious.
One important factor to consider in terms of economic cycles is that not all businesses experience a downturn in revenue and sales during a recession. Spending and consumer confidence fall. Some businesses fare very well during a recession. When economic problems start to appear.
The consumer is more willing to purchase consumer or luxury goods. Increased spending will increase business profits. Cost cutting must occur. Workers may be retrenched.
Consumer confidence returns and spending increases. But retailers struggle in a tougher economy and once things improve. Its managing director. But Australian retailers have been slower on the uptake. Walker says retailers operating in any category must have both an online and physical store presence.
But the rules of the game are changing as a new breed of consumer demands more from retailers than ever before. If the shelves were well stocked and an A-board promoting your specials was out the front. Not surprisingly. The managing director of the Retail Doctor Group. Stephen Ogden-Barnes. These companies include British fashion chain Top Shop.
Exceptional service. Walker says that once the economy improves. Recent research conducted by the ACRS in conjunction with Google has also found that consumers use the internet as a research tool before hitting the shops. Survival of the fittest Demanding consumers and a tough market are forcing retailers to be creative. Retailing used to be fairly simple. Time-poor consumers want to buy everything from fashion.
The Seed. Sean Adams. Bargain hunting as a pastime is increasingly popular. And a US jeweller selling online will deliver to Australia free. Even at the low end of the market. Brian Walker. While getting rid of plastic bags is a good start. Those looking for a bargain are just as likely to be high earners as battlers.
Use the information in the article to outline the main issues for business during periods of: The Wallis Report in the mid s recommended that the process of deregulation be extended even further.
A substantial number of new banking products have emerged. News Limited.
Explain the positive and negative effects on businesses. Changes in any of these factors can lead to changes in demand levels and the nature of products and services. The result was increased competition within the banking sector. In broad terms. You should aim to identify three main points to support your explanation.
A major demographic issue that has a considerable impact on businesses is changes in the age structure of our population. Further changes that are likely to have a profound effect on business activity in Australia originate from changing demographic factors. Outline how the internet is used by contemporary consumers. According to the ACRS. They provide challenging opportunities for business expansion.
Nina Hendy Demography is the study of particular features of the population. We live in a global world. The world is becoming a very small place! The Earth is a global community whose individual members are linked through the mechanism of international trade: Consider the news and entertainment we receive from around the planet. Figuratively speaking. Any change in population growth will also have major implications for Australian businesses.
This inevitably leads to exploitation of workers. International trade includes all those economic transactions that take place between consumers. Consumers rely on being able to purchase a wide range of goods and services. Predict what your life would be like if there was no international trade. Not only has the world economy been transformed.
Over the past decade. Failure to respond to social changes can threaten business stability and viability. By using the internet. BizWoRD Globalisation is the process that sees people. They then trade their surplus with other countries. This process has been strengthened by the impact of globalisation: Globalisation is not a new process. Markets are no longer local and real. Australians have become aware of a number of practices that lead to deterioration in the environment.
Visit any department store. Our economy is therefore linked to the world economy via export and import sales. Distinguish between an export and an import. While most business owners are willing to comply with regulations. Society expects business owners to abide by the laws of a country. These changes are characterised by boom and recessionary periods in the economic cycle. All levels of government impose legal responsibilities on businesses.
Legal influences Too much government interference! Too much red tape! Too many regulations! These are familiar cries from many business owners who face an increasing number of legal obligations in every aspect of their businesses. The ACCC operates nationally for the enforcement and administration of competition and consumer protection laws. In the past two decades. An example of a dominant political issue affecting Australian businesses was the introduction in July of a goods and services tax.
A breach of any of the consumer protection provisions of the Trade Practices Act can result in the ACCC taking criminal proceedings against the business concerned.
This legislation includes laws on taxation. As governments at all levels in Australia regularly face elections. Each level of government imposes a range of regulations on businesses to standardise and protect their dealings with consumers and competitors.
State government State government obligations include: Deregulation is the removal of government regulation from industry. Federal government Federal government obligations include: Telstra and Qantas. Local government Local governments city. The goods and services tax GST is a broad-based tax of 10 per cent on the supply of most goods and services consumed in Australia. The GST had a major impact on many aspects of business operations because businesses became responsible for collecting the tax on behalf of the government.
Examples of privatisation involve the sale or partial sale of the Commonwealth Bank. BizWoRD Regulations are rules. Ok Tedi mine in Papua New Guinea. This includes monitoring of: A regulatory body is one that is set up to monitor and review the actions of businesses and consumers in relation to certain issues such as advertising and the appropriate legislation.
This is to ensure that businesses conduct themselves fairly in relation to the consumer. The roles of these regulatory bodies are summarised in table 3. Regulatory bodies Weblinks Use the Department of Environment. There are a number of regulatory bodies that operate in New South Wales and Australia. TABLE 3. They include: Climate Change and Water. Some of these are shown in table 3. With appropriate technology. Other institutional influences In addition to government bodies.
If slow to use and exploit technology. The use of hi-tech robotics in many manufacturing industries is improving productivity. A business that wants to be locally. Rapid advances in information technology IT have reduced communications delays and allow suppliers and customers to interact over great distances. The main reason for this is to raise extra capital. New communications technologies allow information to be rapidly transmitted to an ever-increasing number of customers with a speed that now makes communication almost instantaneous.
There are four main types of market concentration see table 3. From the business point of view. Each business aims to achieve a sustainable competitive advantage over its competition in order to capture a larger portion of the market. It can provide the consumer with more choices. The ease of entry will be determined by the type of market concentration.
TablE 3. Local and foreign competitors Local competitors are those who produce or sell a good or service in the same market. There are four main types of market concentration: Oligopoly Banks Oil companies Car manufacturers Monopolistic competition Clothing manufacturers Local retailing Perfect competition Fruit and vegetable growers Ease of entry Ease of entry refers to the ability of a person or persons to establish a business within a particular industry.
They are unable to differentiate products from each other and so can only use price as a way of achieving market share. Potential competitors must have enough resources to gain some control in the market. These variables include: Foreign competitors are those businesses located overseas or offshore. Local competitors must deal with the same variables as each other. They sell their goods or services in Australia and compete with local businesses. The chief executive of Sydney media buying shop Aegis.
Some products. Smaller businesses may rely on simple marketing methods such as pamphlets. Lee Stephens. This is necessary to maintain or increase market share. Its challenge is to get its brand in front of the serious gardening enthusiast.
Aim to identify 3—4 reasons. Niche marketing is the answer for garden tool manufacturer and supplier Fiskars. These include buying ad space around teller machines or placing an ad on the tabletops at the local shopping mall. This involves giving stockists large stacks of branded counter cards.
A small army of delivery vans painted with the company logo also spreads the word on the street for no ongoing cost. If Search Engine Optimization matters to This section is just on capital budgeting, a key aspect of financial management that seems somewhat challenging for beginners and MBA. Enjoy the simplicity! Businesses are continuing to embrace the cloud, mobility and data solutions in new and inventive ways.
Made Simple. This ebook consists of two parts — beginner's and advanced, and it covers every SEO strategy possible to make it to the first page of google query. WIN the ultimate Audiobook experience! Enter here no purchase necessary. Join Now Login. Sort by: Showing results: Oct Downloads: Jun Downloads: