This popular title has been completely updated to reflect the new Arrangements introduced for the 2005/06 course. In addition to comprehensive coverage of key areas to consolidate and enhance understanding, quick questions and differentiated exam-style questions at the end of each chapter sharpen exam technique. Use the case studies to broaden subject knowledge, whilst a full glossary makes reference quick and easy. Contents Chapter 1: Business in contemporary society * Cycle of business * Factors of production * Sectors of business activity * Private sector organisations * Non-profit making organisations * Publicly-funded organisations * Objectives * Stakeholders * Role of enterprise and the entrepreneur * Franchising * What is a manager? * Sources of finance * Sources of assistance * Methods of growth * Internal business environment * External business environment * Changing business environment Chapter 2: Business information and ICT * Sources of information * Types of information * Value of information * Uses of information in business * Types of ICT * Costs and benefits of ICT * Business software * Uses of ICT * Effects of ICT Chapter 3: Decision-making in business * Types of decisions * Mission statement * Decision-making process * Role of managers in decision-making * Influence of stakeholders on decision-making * SWOT analysis * Costs and benefits of POGADSCIE and SWOT * Why is effective decision-making difficult? * What do quality decisions depend on? * Other decision-making techniques Chapter 4: Internal organisation * Types of organisational groupings * Organisation charts * Formal organisational structure * The role and responsibility of management * Organisational relationships * Changes in organisational structure * Empowerment * Corporate culture Chapter 5: Marketing Chapter 6: Operations Chapter 7: Financial management Chapter 8: Human resource management Chapter 9: Key terms and solutions