Oxford University Press
Principles of Business CSEC®
Robert Dransfield
Test Preparation
Principles of Business CSEC®
US$ 35.99
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Newly updated to match the latest syllabus, Principles of Business for CSEC 2nd edition focuses on the theoretical and practical aspects of business that apply to the Caribbean's diverse economic environment. Written by a team of experts in Caribbean business education, it engages students with the fundamentals of business and encourages the development of their critical thinking and entrepreneurial skills.

1. The nature of business
1.1 Explain the development of barter
1.2 Describe the role of money
1.3 Identify the instruments of exchange
1.4 Interpret information on various instruments of payment
1.5 Differentiate between private and public sectors
1.6 Describe the various forms of business organisation and arrangements (formation, management and characteristics)
1.7 Differentiate among the types of economic systems
1.8 Describe the functional areas of a business
1.9 Identify the stakeholders involved in business activities
1.10 Discuss the role and functions of the stakeholders involved in business activities
1.11 Explain the ethical and legal issues in the establishment and operation of a business
1.12 Explain the principles that must be adopted in the establishment and operation of a business
1.13 Explain the consequences of unethical and illegal practices in business
1.14 Describe the careers in the field of business
2. Internal organisational environment
2.1 Describe the functions of management
2.2 Outline the responsibilities of management
2.3 Construct simple organisational charts
2.4 Interpret simple organisational charts
2.5 Outline the essential characteristics of a good leader
2.6 Discuss the different leadership styles
2.7 Identify potential sources of conflict within an organisation
2.8 Outline strategies used by employers and employees to gain an upper hand during periods of conflict
2.9 Describe strategies for the resolution of conflict within an organisation
2.10 Establish guidelines for the conduct of good management and staff relations in the workplace
2.11 Identify strategies for motivating employees in a business
2.12 Evaluate the role of teamwork in the success of an organisation
2.13 Outline strategies for effective communication within an organisation
3. Establishing a business
3.1 Define the term “entrepreneur”
3.2 Explain the functions of an entrepreneur
3.3 Identify the characteristics of the typical entrepreneur
3.4 Describe the role of the entrepreneur in the decision-making process
3.5 Outline the role of the entrepreneur in economic development
3.6 Outline reasons why an individual may want to establish a business
3.7 Outline the essential steps that should be taken in establishing a business
3.8 Identify the reasons for preparing a business plan
3.9 Describe the elements of a business plan
3.10 Identify sources of information for conducting research into the establishment of businesses
3.11 Discuss the significance of conducting a feasibility study into the establishment of a business
3.12 Explain the relationship between planning and the operation of a business
3.13 Identify regulatory practices instituted by governments for the establishment and conduct of different types of businesses
3.14 Outline the factors that determine the location of a business
3.15 Explain the significance of collateral in accessing capital to establish a business
4. Legal aspects of business
4.1 Explain the concept of a contract
4.2 Identify the types of contract
4.3 Describe the characteristics of a simple contract
4.4 Describe the characteristics of a specialty contract
4.5 Explain the conditions under which offer and acceptance are communicated
4.6 Explain ways by which contracts may be terminated or discharged
4.7 Apply the principles of a simple contract to cases
4.8 Explain why documentation is necessary in business transactions
4.9 Prepare business documents for various purposes
4.10 Evaluate the principles upon which insurance is based
4.11 Explain the various types of insurance policies
4.12 Explain how insurance facilitates trade
5. Production
5.1 Identify factors in the production of goods and services
5.2 Identify industries developed from the natural resources of Caribbean territories
5.3 Differentiate between production and productivity
5.4 Explain the importance of productivity
5.5 Explain the role of capital in production
5.6 Differentiate among types of capital
5.7 Classify the different types and levels of production
5.8 Describe the characteristics of cottage industries
5.9 Outline the functions of small businesses
5.10 Discuss the advantages and disadvantages of small business
5.11 Explain how a business grows internally and externally
5.12 Outline the opportunities for and benefits of developing linkage industries
5.13 Explain the effects of growth on a business
6. Marketing
6.1 Explain the concepts of markets and marketing
6.2 Explain marketing activities
6.3 Describe the “marketing mix”
6.4 Describe the factors that influence consumer behaviour
6.5 Identify factors affecting packaging and presentation of goods
6.6 Describe methods of promoting sales
6.7 Identify the techniques of selling
6.8 Explain the various terms of sales
6.9 List the functions of consumer organisations
6.10 Outline the role of customer service
6.11 Describe forms of customer service
6.12 Explain the concept of intellectual property rights
7. Logistics and supply chains
7.1 Explain the terms “logistics” and “supply chain operations”
7.2 Describe the links in the chain of distribution
7.3 Distinguish between multimodal and intermodal transport
7.4 Interpret information on transport documents
7.5 Explain the role of transport in marketing
7.6 Identify advantages and challenges of supply chain operations
7.7 Explain the impact of logistics and supply chain operations on the competitiveness of business
7.8 Identify the problems likely to be encountered in distribution
7.9 Outline measures to mitigate problems in distribution
7.10 Outline the impact of information technology on logistics and supply chain operations
8. Business finance
8.1 Identify various financial institutions
8.2 Describe the functions and services offered by financial institutions
8.3 Describe the role and functions of financial regulatory bodies
8.4 Describe the relationship between financial institutions and regulatory bodies
8.5 Outline ways used by individuals to manage personal income
8.6 Differentiate between savings and investments
8.7 Explain the concepts of short-term and long-term financing
8.8 Identify personal sources of capital for setting up a business
8.9 Identify the purposes of basic financial records for sole traders
9. The role of government in an economy
9.1 Outline the responsibilities of government in an economy
9.2 Describe how government can influence businesses to protect the environment
9.3 State the purposes of taxation
9.4 Distinguish between direct and indirect taxes
9.5 Describe the forms of assistance offered by governments to businesses
9.6 Discuss the social services provided by government
10. Technology and the global business environment
10.1 Explain the concept of business technology
10.2 Explain the role of information and communications technology (ICT) in business
10.3 Describe the types of ICT used in business
10.4 Distinguish between e-commerce and e-business
10.5 Identify ways in which ICT can be used to improve the efficiency of business operations
10.6 Discuss the ethical implications of the use of ICT in business
10.7 Outline the factors that determine a country’s standard of living and its quality of life
10.8 Explain national income and its variations: gross national product, gross domestic product, per capita income
10.9 Describe the role of education in economic growth and development
10.10 Outline the reasons for international trade
10.11 Identify the functions of major economic institutions and systems
10.12 Explain how economic institutions or trade agreements impact the Caribbean
10.13 Identify major economic problems of the Caribbean
10.14 Outline appropriate solutions to the major economic problems of the Caribbean
10.15 Explain the role, benefits and impact of foreign investment
The importance of the school-based assessment (SBA)
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