Contents

How to use this book vii

Acknowledgements viii

Theme 1 Marketing and people 1

Section 1.1 Meeting customer needs 2

1 Introduction to marketing 2
2 The market 8
3 Market research 14
4 Market positioning 21

Section 1.2 The market 25

5 Demand 25
6 Supply 30
7 Markets and equilibrium 34
8 Price elasticity of demand 39
9 Income elasticity of demand 45

Section 1.3 Marketing mix and strategy 50

10 Product and service design 50
11 Branding and promotion 55
12 Pricing strategies 61
13 Distribution 68
14 Product life cycle and portfolio 73
15 Marketing strategy 79

Section 1.4 Managing people 84

16 Introduction to managing people 84
Copyright © 2019. Hodder Education Group. All rights reserved.

17 Approaches to staffing 89
18 Recruitment, selection and training 95
19 Organisational design 101
20 Motivation in theory (non-financial techniques) 108
21 Motivation in practice 115
22 Leadership 122

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Marcouse, I., Hammond, A., & Watson, N. (2019). Pearson edexcel a level business. Hodder Education Group.
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 Section 1.5 Entrepreneurs and leaders 127
23 Role of an entrepreneur 127
24 Entrepreneurial motives and characteristics 133
25 Business objectives 139
26 Forms of business 145
27 Business choices 152
28 Moving from entrepreneur to leader 157

Theme 2 Managing business activities 161

Section 2.1 Raising finance 162
29 Introduction to finance 162
30 Sources of finance: internal and external 167
31 Liability and finance 173
32 Planning 176

Section 2.2 Financial planning 182

33 Sales forecasting 182
34 Sales, revenue and costs 187
35 Break-even 192
36 Budgets 199

Section 2.3 Managing finance 204

37 Profit 204
38 Liquidity 210
39 Business failure 216

Section 2.4 Resource management 220

40 Introduction to resource management 220
41 Production, productivity and efficiency 224
42 Capacity utilisation 232
43 Stock control 237
44 Quality management 243

Section 2.5 External influences 248

45 Economic influences 248
Copyright © 2019. Hodder Education Group. All rights reserved.

46 Legislation 255
47 The competitive environment 260

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Marcouse, I., Hammond, A., & Watson, N. (2019). Pearson edexcel a level business. Hodder Education Group.
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 Theme 3 Business decisions and strategy 265
Section 3.1 Business objectives and strategy 266
48 Corporate objectives 266
49 Corporate strategy 271
50 Ansoff’s Matrix 277
51 SWOT analysis 283
52 Impact of external influences 289
53 The competitive environment 293

Section 3.2 Business growth 299

54 Growth 299
55 Organic growth 304
56 Mergers and takeovers 308
57 Reasons for staying small 315

Section 3.3 Decision-making techniques 320

58 Quantitative sales forecasting 320
59 Investment appraisal 326
60 Decision trees 335
61 Critical Path Analysis (CPA) 342

Section 3.4 Influences on business decisions 350

62 Corporate influences 350
63 Corporate culture 356
64 Shareholders versus stakeholders 362
65 Business ethics 367

Section 3.5 Assessing competitiveness 372

66 Interpretation of financial statements 372
67 Ratio analysis 379
68 Human resources 387

Section 3.6 Managing change 393

69 Causes and effects of change 393
70 Key factors in change 399
Copyright © 2019. Hodder Education Group. All rights reserved.

71 Scenario planning 404

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Marcouse, I., Hammond, A., & Watson, N. (2019). Pearson edexcel a level business. Hodder Education Group.
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 Theme 4 Global business 409
Section 4.1 Globalisation 410
72 Growing economies 410
73 China versus India 417
74 Business potential in Africa 423
75 International trade and business growth 430
76 Factors contributing to increased globalisation 435
77 Protectionism 442
78 Trading blocs 448

Section 4.2 Global markets and business expansion 454

79 Conditions that prompt trade 454
80 Assessment of a country as a market 458
81 Assessment of a country as a production location 463
82 Reasons for global mergers or joint ventures 468
83 Global competitiveness 473

Section 4.3 Global marketing 479

84 Global marketing 479
85 Global niche markets 485
86 Cultural and social factors in global marketing 489

Section 4.4 Global industries and companies (multinational

corporations) 493
87 The impact of multinational corporations 493
88 Ethics in global business 499
89 Controlling multinational corporations 504

Assessment 510
Glossary 529
Index 537
Text acknowledgments 550
Copyright © 2019. Hodder Education Group. All rights reserved.

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Marcouse, I., Hammond, A., & Watson, N. (2019). Pearson edexcel a level business. Hodder Education Group.
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